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

    302 Gilbert Rd Gilbert, AZ 85234-9312

    • Turn key restaurants
    • 5,581 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $1,625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-0753524
    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

    • Joyride Taco House / Take-out & Catering / Catering Service
    • Prime TowTruck Gilbert, AZ / Auto Parts Store
    • Raptor Mold Removal & Remediation Gilbert AZ / Hardware & Home Improvement / Construction Company
    • Postino East / Take-out & Catering / Catering Service

    Property Details for 302 Gilbert Rd

    Year built
    1998
    Construction
    CONCRETE
    Lot size
    0.50 lot acres
    Property size
    5,581 SF
    Zone code
    C-O
    Property type
    Turn key restaurants
    APN
    302-16-978
    APU
    30216978

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,751,000
      Market price range: $1.75M - $5.52M
      AI Estimate
      $1,493,000
      Market price range: $1.49M - $5.52M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,480,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.79
    Latitude
    33.3551
    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
    $16,786
    $0.00
    $0.00
    $226,699
    -
    $372,600
    $1,001,335
    $1,373,935

    Comparable in this City

    • Value Estimation
      $1,455,000
      5,005 SF

      301 Gilbert Rd

      RESTAURANT • 5,005 SF
      301 Gilbert Rd, Gilbert, AZ 85234-9317
      View Details
    • Value Estimation
      $1,225,000
      4,205 SF

      344 Gilbert Rd

      RESTAURANT • 4,205 SF
      344 Gilbert Rd, Gilbert, AZ 85234-5770
      View Details
    • Value Estimation
      $2,335,000
      3,955 SF

      5155 Baseline Rd

      RESTAURANT • 3,955 SF
      5155 Baseline Rd, Gilbert, AZ 85234-2967
      View Details
    • Value Estimation
      $4,250,000
      14,536 SF

      383 Gilbert Rd

      RESTAURANT • 14,536 SF
      383 Gilbert Rd, Gilbert, AZ 85234-5766
      View Details
    • Value Estimation
      $4,065,000
      9,284 SF

      1799 Higley Rd

      RESTAURANT • 9,284 SF
      1799 Higley Rd, Gilbert, AZ 85234-1630
      View Details
    • Value Estimation
      $3,160,000
      7,189 SF

      1715 Higley Rd

      RESTAURANT • 7,189 SF
      1715 Higley Rd, Gilbert, AZ 85234
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,000 SF

      Retail Pad with Drive-Thru Option

      Retail space for sale, lease, or build-to-suit with drive-thru.
      4700 S Val Vista Dr, Gilbert, AZ 85234
      View Details
    • $3,088,888
      2,363 SF

      New Construction Drive-Thru Restaurant

      New construction drive-thru restaurant operating since 2021.
      3640 S Val Vista Dr, Gilbert, AZ 85234
      View Details
    • $1,200,000
      2,141 SF

      Retail Property in Gilbert, Arizona

      Retail property available for sale in Gilbert, Arizona.
      4915 E Baseline Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      864 SF

      Downtown Gilbert Retail Investment Opportunity

      Prime retail investment in the heart of Downtown Gilbert.
      309 N Gilbert Rd, Gilbert, AZ 85234
      View Details
    • $3,125,000
      1,275 SF

      Gilbert Retail NNN Investment Opportunity

      NNN leased retail property in growing Gilbert trade area.
      1545 W Elliot Rd, Gilbert, AZ 85234
      View Details
    • $3,000,000
      11,400 SF

      Retail Center with Stable Tenants

      Retail center with long-term tenants and professional management.
      53 N Val Vista Dr, Gilbert, AZ 85234
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,600 SF

      Vibrant Retail Space in Gilbert

      Dynamic retail space in Gilbert's Heritage District, 2600 square feet.
      40 W Elliot Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      1,800 SF

      Restaurant Space in Village Square

      Second generation restaurant space available for lease.
      3510 East Baseline Rd, Mesa, AZ 85234
      View Details
    • Contact for pricing
      11,500 SF

      Gilbert Retail/Restaurant/Automotive Space

      11,500 SF retail building suitable for restaurant or automotive businesses.
      685 S Gilbert Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      1,163 SF

      Retail Space Near San Tan

      Retail space with frontage, visibility, and monument signage available.
      3126 S Higley Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space Near Loop 202

      Corner retail space available off Loop 202 at Gilbert Road.
      3107 S Gilbert Rd, Gilbert, AZ 85234
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near Heritage District

      Retail space available near Downtown Gilbert's Heritage District.
      675 N Gilbert Rd, Gilbert, AZ 85234
      View Details

    Property Visit Statistics

    • Visits by month
      11.5k
    • Visitors by month
      9.4k
    • Avg Time on site
      70 min
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    302 Gilbert Rd
    Gilbert, AZ 85234-9312
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    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
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