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    Property profile & analytics

    1851 E Baseline Rd Gilbert, AZ 85233

    • Strip malls
    • 5,568 SF
    • 0.97 lot acres
    For Lease
    View listing
    $2,600,000
    Last Sale
    May 14, 2025
    $2,520,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-3373658
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • MoneyGram / Bank / Credit Union
    • Dr. Ethan Savory / Dental Office
    • Jonathan Zuniga / Dental Office
    • Ethan Jessel Savory / Dental Office
    • Mattingly Tara a DDS / Dental Office

    Property Details for 1851 E Baseline Rd

    Year built
    2003
    Construction
    CONCRETE
    Lot size
    0.97 lot acres
    Property size
    5,568 SF
    Zone code
    SC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    310-05-236A
    APU
    31005236A

    Description

    This exceptional 1,271-square-foot retail space is located at 1851 E Baseline Rd in Gilbert, Arizona, within Maricopa County. The property is a single-tenant building offering a completely vacant, 1,271-square-foot space, described as a "vanilla shell" condition. This provides a blank canvas for a prospective tenant to customize the interior to perfectly suit their business needs. The property's address is easily accessible and visible from Baseline Road, offering excellent visibility and potential for high foot traffic. The property type is classified as retail commercial. The zip code for this location is 85233. This presents a unique opportunity for businesses seeking a move-in ready space in a thriving Gilbert location. The property's geographic coordinates are latitude 33.3785028 and longitude -111.7913695. This single-tenant building offers complete control and flexibility for the tenant. The property is ready for immediate occupancy. The "vanilla shell" condition allows for complete customization, minimizing upfront renovation costs and maximizing design flexibility. This prime location in Gilbert, Arizona offers excellent potential for business growth and success. The property is situated in a dynamic area with high visibility and accessibility. This is an ideal opportunity for businesses seeking a well-located, adaptable retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,948,000
      Market price range: $1.23M - $3.13M
      AI Estimate
      $1,948,000
      Market price range: $1.23M - $3.13M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,025,000
      Current use
      RESTAURANT
      $3,060,000
      Change: +51% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,470,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $2,045,000
      Change: +1% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.792
    Latitude
    33.3785
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,221
    $0.00
    $0.00
    $240,183
    -
    $648,800
    $806,854
    $1,455,654

    Comparable in this City

    • Value Estimation
      $3,370,000
      6,000 SF

      734 Mcqueen Rd

      SHOPPING CENTER, STRIP CENTER • 6,000 SF
      734 Mcqueen Rd, Gilbert, AZ 85233-3542
      View Details
    • Value Estimation
      $5,230,000
      15,062 SF

      81 Guadalupe Rd

      SHOPPING CENTER, STRIP CENTER • 15,062 SF
      81 Guadalupe Rd, Gilbert, AZ 85233-3321
      View Details
    • Value Estimation by Request
      7,749 SF

      730 Cooper Rd Ste, Unit 106

      SHOPPING CENTER, STRIP CENTER • 7,749 SF
      730 Cooper Rd Ste, Gilbert, AZ 85233-3791
      View Details
    • Value Estimation
      $2,800,000
      7,800 SF

      1295 Arizona Ave

      SHOPPING CENTER, STRIP CENTER • 7,800 SF
      1295 Arizona Ave, Gilbert, AZ 85233-1613
      View Details
    • Value Estimation
      $3,020,000
      5,187 SF

      Gilbert, AZ 85233

      SHOPPING CENTER, STRIP CENTER • 5,187 SF
      Gilbert, AZ 85233
      View Details
    • Value Estimation
      $2,160,000
      10,680 SF

      81 Mcqueen Rd

      SHOPPING CENTER, STRIP CENTER • 10,680 SF
      81 Mcqueen Rd, Gilbert, AZ 85233-5503
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      1,600 SF

      Retail Space in Gilbert Commons

      Retail spaces available in Gilbert, Arizona shopping center.
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      View Details
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      Retail Space in Gilbert Commons

      Retail spaces available in Gilbert Commons shopping center.
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      Retail Space Near Costco, Winco

      Retail shops anchored by Costco and Winco Foods.
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      25,569 SF

      Prominent Intersection Retail Opportunity

      Retail space available at a high-traffic Gilbert intersection.
      694-884 S Cooper Rd, Gilbert, AZ 85233
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      Retail Space in Gilbert, Arizona

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    • Contact for pricing
      1,080 SF

      Retail Space Available For Rent

      End cap retail space available in Gilbert, Arizona.
      876 N Mcqueen Rd, Gilbert, AZ 85233
      View Details
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    1851 E Baseline Rd
    Gilbert, AZ 85233
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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