Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2887 Market St Gilbert, AZ 85295-1303

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2887 Market St Gilbert, AZ 85295-1303

    View on Map
    • Outlet malls
    • 143,463 SF
    • 15.75 lot acres
    Off-Market
    Property ID
    US07-1164167
    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.
    Value Estimations
    $35,200,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Costco hearing aid store / Hearing Aid Store
    • James Carpetis / Pharmacy
    • Gaze Optometry / Physician
    • Mark Kusmierczyk / Pharmacy
    • Kevin Kane / Pharmacy

    Property Details for 2887 Market St

    Year built
    2006
    Construction
    CONCRETE
    Lot size
    15.75 lot acres
    Property size
    143,463 SF
    Zone code
    R-3
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    304-46-514
    APU
    30446514

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $38,851,000
      Market price range: $26.8M - $99.6M
      AI Estimate
      $31,543,000
      Market price range: $26.6M - $84.8M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $52,670,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $52,210,000
      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
    -111.746
    Latitude
    33.2961
    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
    $209,664
    $0.00
    $0.00
    $4,851,132
    -
    $13,161,700
    $16,239,100
    $29,400,800

    Comparable in this City

    • Value Estimation by Request
      28,424 SF

      4115 Williams Fld Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 28,424 SF
      4115 Williams Fld Rd, Gilbert, AZ 85295-1144
      View Details
    • Value Estimation
      $36,520,000
      129,790 SF

      2621 Market St

      WHOLESALE OUTLET, DISCOUNT STORE • 129,790 SF
      2621 Market St, Gilbert, AZ 85295-1301
      View Details
    • Value Estimation
      $10,670,000
      20,318 SF

      5340 Power Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 20,318 SF
      5340 Power Rd, Gilbert, AZ 85295-8402
      View Details
    • Value Estimation
      $9,205,000
      50,000 SF

      1765 Williams Fld Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 50,000 SF
      1765 Williams Fld Rd, Gilbert, AZ 85295-5301
      View Details
    • Value Estimation
      $10,015,000
      37,892 SF

      1835 Williams Fld Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 37,892 SF
      1835 Williams Fld Rd, Gilbert, AZ 85295-5303
      View Details
    • Value Estimation
      $16,390,000
      88,082 SF

      1497 Williams Fld Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 88,082 SF
      1497 Williams Fld Rd, Gilbert, AZ 85295-1670
      View Details

    Similar Nearby for Sale

    • 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

      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

      Pecos Road & Val Vista Drive, Gilbert, AZ 85295

      Retail properties & Spaces
      Pecos Rd & Val Vis Dr, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Retail Property in Gilbert, Arizona

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

      Land For Sale

      Land available for sale in Gilbert, Arizona.
      Swc Power & Pecos, Gilbert, AZ 85295
      View Details

    Similar Nearby for Lease

    • 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
    • Contact for pricing
      2,000 SF

      Retail Space in Power Center

      Retail space available in a major retail commercial core.
      3131 S Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      35,399 SF

      Retail Space Near San Tan

      Retail space available in densely populated Gilbert trade area.
      2795 S Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Retail Space Near San Tan

      Retail space available in a densely populated, high-income area.
      2796 S Market St, Gilbert, AZ 85295
      View Details
    • Contact for pricing
      7,000 SF

      Gilbert Retail Center - Prime Location

      7,000 SF Retail Space Available
      0 Nec Val Vis Dr & Pecos Rd, Gilbert, AZ 85295
      View Details
    • Contact for pricing

      Retail Space Anchored by Fry's

      Retail space with high income demographics and ample parking.
      183-195 E Williams Field Rd, Gilbert, AZ 85295
      View Details

    Property Visit Statistics

    • Visits by month
      282.5k
    • Visitors by month
      173.6k
    • Avg Time on site
      35 min
    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.
    2887 Market St
    Gilbert, AZ 85295-1303
    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.
    Sign Up Successful!
    You now have access to more from Realmo!