Property profile

240 Sunway Dr Gilbert, AZ 85233

OFF-MARKET
Flex space
Property ID
US07-0367435
15,765 SF 1.11 ac lot Built 1997
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This 15,765-square-foot industrial property in Gilbert, Arizona is configured for warehouse, industrial, or flex use and includes a large secured yard. Power service is provided at approximately 1,200 amps of 120/208V, 3-phase electricity. The building has four grade-level doors (two doors measure 12’ x 14’ and two doors measure 12’ x 12’) and offers a 17’4” clear interior height. The interior layout includes six bathrooms and eight private offices, with supporting areas such as a reception area, bullpen, storage room, kitchenette, and a server room. The property provides three separate entrances and includes interior roof access. Building features include skylights and three passthrough openings measuring 7’10” x 9’10”, 5’ x 7’, and 6’7” x 7’11”.

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Year built 1997
Construction CONCRETE
Total area 15,765 SF
Lot 1.11 ac (48,352 SF)
Zoning code LI
APN 302-23-060
UPID US07-0367435

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Electronics & Wireless Store (Bike/Boat/Book/etc) Store
  • (Bike/Boat/Book/etc) Store

Location

240 Sunway Dr Gilbert, AZ 85233-5034
Gilbert metro Census 422307 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.95M
Blend (final) Blend
$3.54M

Owner & transaction history

since 2022
Last sale
$3.8M
7 recorded transactions
2022
$3.8M
2018
Price N/A
2013
$1.0M
2001
$1.1M
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

LI · Gilbert, AZ
Zoning description

The intent of the Light Industrial zoning district is to provide for wholesale and warehousing uses as well as those manufacturing uses that include fabrication, manufacturing, assembly or processing of materials that ar…

General category INDUSTRIAL
Top alternative use upside
Medical building $4.0M +66.5%
Office building $3.5M +44.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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