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Property profile & analytics
OFF-MARKET
Estimated value
$12,845,000
Outlet malls
2795 Market St Gilbert, AZ 85295-1306
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US07-2164597
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2005
Construction
CONCRETE
Total area
19,990 SF
Lot
24.9 ac (1,084,445 SF)
Zoning code
R-3
APN
304-46-976
UPID
US07-2164597
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Which Wich Superior Sandwiches Take-out & Catering
-
GameStop Arcade & Gaming Center Electronics & Wireless Store
-
Mattress Firm San Tan Village Furniture & Home Goods
-
East Valley Vacuums Home Appliance Store (Bike/Boat/Book/etc) Store
-
SanTan Nails & Spa Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.88M
Blend (final)
Blend
$12.85M
Owner & transaction history
Ross Dress For Less INC · 1 yrs held
Ross Dress For Less INC
since 2025
7 recorded transactions
Zoning & alternative use
R-3 · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Layer: Zoning (ID: 8)
Top alternative use upside
Commercial (general)
$16.0M
+118.6%
Restaurant
$11.0M
+49.6%
Auto repair, garage
$8.9M
+20.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Gilbert submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gilbert submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$16,045,000
Change: +119% · Conversion: Easy
RESTAURANT
$10,980,000
Change: +50% · Conversion: Easy
AUTO REPAIR, GARAGE
$8,875,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$12.85M
Range $11.56M – $14.13M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$643 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$438,357
Tax year 2023
Assessed value
$6,645,276
Assessed 2024
Previous assessed
$6,344,060
+4.7% YoY
Effective rate
6.60%
On assessed value
Land market value
$19,381,000
Improvement market value
$20,893,399
Total market value
$40,274,399
Applied tax rate
410,609.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
14
Stories
1
Units
14
Total area
19,990 SF
Lot
24.9 ac (1,084,445 SF)
Zoning code
R-3
APN
304-46-976
UPID
US07-2164597
Jurisdiction
MARICOPA
Zoning & alternative use
R-3 · Gilbert, AZZoning R-3 · permitted uses
R-3 · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Layer: Zoning (ID: 8)
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$16.0M
RESTAURANT
Est. value
$11.0M
AUTO REPAIR, GARAGE
Est. value
$8.9M
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2005
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
14
Units
14
Lot
24.9 ac
Current owner
From public records · entity-resolved
Ross Dress For Less INC
Entity
Free & Clear · 1 yrs held
Mailing address
2425 E CAMELBACK RD STE #750, PHOENIX, AZ 85016-4261
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 16, 2025
—
Ross Dress For Less INC
Santan Mp LP
Deed
—
Aug 24, 2018
$9,457,500
Lg Santan Apt LLC
Santan Dev Group INC
Grant Deed
related
—
May 14, 2018
$51,500,000
Santan Mp LP
Bre Ddr Br San Tan II Az LLC
Special Warranty Deed
—
Aug 31, 2016
—
Promar Corp
—
Trustees Deed
related
$231,796 · Western Alliance Bk
Nov 5, 2014
$66,100,000
Bre Ddr Br San Tan II Az LLC
Cole Mt Gilbert San Tan Az LLC
Deed
$800,000,000 · Wells Fargo Bank NA
Mar 30, 2012
$54,580,000
Mt Gilbert San Tan Az L Cole
Macerich Santan Phase 2 Spe Ll
Grant Deed
—
Apr 15, 2008
—
Macerich Santan Phase 2 Spe Ll
Owner Name Unavailable
Grant Deed
related
—
—
—
Mt Gilbert San Tan Az L Cole
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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