2363 Lindsay Rd, Gilbert, AZ 85295-4744
- Drug stores
- 15,120 SF
- 2.06 lot acres
Current Use by Public Records
- Rebecca Simpson / Pharmacy
- BMO ATM / Atm
- CyberSecurity Corp / IT Consulting Firm / Tech Support Center
- Jenny Doyle / Pharmacy
- Western Union / Bank / Credit Union
Property Details for 2363 Lindsay Rd
- Year built
- 2001
- Construction
- CONCRETE
- Lot size
- 2.06 lot acres
- Zone code
- CC
- Property type
- Drug stores
- APN
- 304-42-820
- APU
- 30442820
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 8, 2025 | $5,620,000 | D&r Rivercity Rv Resort INC | Cot Wg Meadow LLC | Special Warranty Deed | — |
| Nov 27, 2023 | $4,823,678 | Cot Wg Meadow LLC | Walgreen Arizona Drug Co | Special Warranty Deed | $90.3M · Wells Fargo Bank NA |
| Nov 27, 2023 | — | Walgreen Co | Cot Wg Meadow LLC | Lease | — |
Description
This exceptional investment opportunity presents a 15,070-square-foot Walgreens located in Gilbert, Arizona, on a 2.06-acre lot. The property boasts a strong 5.90% cap rate and a substantial net operating income (NOI) of $346,909. Built in 2001, the single-tenant, NNN-leased property features a prominent location at the signalized intersection of East Williams Field Road and South Lindsay Road, benefiting from high visibility and excellent access. The Walgreens lease commenced in November 2003 and has approximately 14 years remaining, with favorable lease terms including 5% rent increases every five years and in each of the twelve, five-year renewal options. The property is strategically positioned within a thriving retail corridor, near major shopping centers such as SanTan Village, SanTan Village Marketplace, and Crossroads Towne Center, offering a diverse mix of retail, office, industrial, and residential properties within a three-mile radius. This prime location within the Phoenix-Mesa-Chandler MSA, a major economic hub with a population exceeding 5.06 million, provides exceptional long-term growth potential. The surrounding area includes numerous big-box retailers, further enhancing the property's value and appeal. This is a rare opportunity to acquire a high-performing, well-located Walgreens property with significant long-term income potential. The asking price is $5,879,814, representing a price per square foot of $390.17.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,350,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $6,550,000
- AI Estimate
- $5,318,000
Market price range: $2.83M - $10.5MMarket price range: $2.80M - $8.93M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $5,550,000 Current use
- RESTAURANT
- $8,305,000 Change: +50% Conversion: Easy
- AUTO REPAIR, GARAGE
- $6,715,000 Change: +21% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $5,500,000 Change: -1% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Gilbert
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.772
- Latitude
- 33.3073
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
