Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2590 Market St Gilbert, AZ 85295

    • Commercial real estate
    • 3,800 SF
    • 1.55 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2283760
    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

    • Whataburger / Restaurant

    Property Details for 2590 Market St

    Year built
    2022
    Lot size
    1.55 lot acres
    Property size
    3,800 SF
    Property type
    Commercial real estate
    APN
    313-21-979

    Description

    This exceptional investment opportunity presents a single-tenant, 3,800 square foot Whataburger restaurant situated on a 1.55-acre lot in Gilbert, Arizona. The property boasts a corporate-guaranteed net lease with a substantial 12.5 years remaining on the initial 15-year term, featuring 10% rent increases every five years. The strong financial performance is underscored by a 4.60% cap rate and a current NOI of $124,935. Built in 2022, this freestanding building enjoys a prime location across from San Tan Village Marketplace, a major shopping center anchored by Sam's Club and Walmart. Its proximity to other significant retail centers, including San Tan Village and San Tan Pavilions, further enhances its desirability. The property also benefits from its strategic location near Dignity Health Mercy Gilbert Medical Center and within a 10-minute drive of two airports. The surrounding area exhibits robust demographics, with a population exceeding 297,743 and an average household income of $146,872 within a five-mile radius. The lease includes three and five-year renewal options, providing long-term stability and growth potential. This is a rare opportunity to acquire a high-performing, net-leased property anchored by a nationally recognized brand in a thriving market. The ground lease expires May 31, 2037. APN: 313-21-979. Asking price: $2,715,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.7442376
    Latitude
    33.3030441

    Comparable in this City

    • $6,375,000
      9,987 SF

      Prime Location Restaurant Investment Opportunity

      NNN leased restaurant with attractive escalations in high-traffic Gilbert.
      1975 E Williams Field Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      10,600 SF

      Retail Space in SanTan Village

      Retail space available within the SanTan Village master plan.
      1690 S San Tan Village Pkwy, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      285,581 SF

      Santan Village Marketplace Retail Space

      Retail space available in Santan Village Marketplace, Gilbert, Arizona.
      2796 S Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      2.11 Acres

      Gilbert Retail Land - 2.11 Acres

      Prime Gilbert location, restaurant pads available.
      202 & Williams Fld Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      23.66 Acres

      Val Vista Square: Gilbert Retail Land

      Prime Gilbert location, ±23.66 acres, build-to-suit.
      0 Pecos Rd & Val Vis Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      81,123 SF

      Retail Property in Gilbert, Arizona

      Retail property with significant square footage in Gilbert, Arizona.
      2870 S Market St, Gilbert, AZ 85295
      View Details

    Similar Nearby for Sale

    • $6,375,000
      9,987 SF

      Prime Location Restaurant Investment Opportunity

      NNN leased restaurant with attractive escalations in high-traffic Gilbert.
      1975 E Williams Field Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      10,600 SF

      Retail Space in SanTan Village

      Retail space available within the SanTan Village master plan.
      1690 S San Tan Village Pkwy, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      285,581 SF

      Santan Village Marketplace Retail Space

      Retail space available in Santan Village Marketplace, Gilbert, Arizona.
      2796 S Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      2.11 Acres

      Gilbert Retail Land - 2.11 Acres

      Prime Gilbert location, restaurant pads available.
      202 & Williams Fld Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      23.66 Acres

      Val Vista Square: Gilbert Retail Land

      Prime Gilbert location, ±23.66 acres, build-to-suit.
      0 Pecos Rd & Val Vis Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      81,123 SF

      Retail Property in Gilbert, Arizona

      Retail property with significant square footage in Gilbert, Arizona.
      2870 S Market St, Gilbert, AZ 85295
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      285,581 SF

      SanTan Village Marketplace Retail Space

      Prime Gilbert Retail, Multiple Spaces Available
      2796 Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      3,502 SF

      Restaurant and Bar Space Available

      Restaurant and bar space for rent with full kitchen.
      2570-2582 S Val Vista Dr, Gilbert, AZ 85295
      View Details
    • $20 SF/Yr
      17,928 SF

      Prime Casa Grande Office Space

      Executive Suites, Abundant Parking, 17,928 SF
      1015 Florence Blvd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      710,000 SF

      Power Road Retail Center Opportunity

      High-traffic retail spaces available now
      5478 Power Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      12,000 SF

      Retail Space Near ASU Polytechnic

      Retail space available near ASU Polytechnic and Mesa Gateway Airport.
      5110-5340 S Power Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      2,984 SF

      Retail Spaces Available in Gilbert

      Retail spaces for lease with freeway access and signage.
      1661 S Val Vista Dr, Gilbert, AZ 85295
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2590 Market St
    Gilbert, AZ 85295
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.