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

    3050 E Queen Creek Rd Gilbert, AZ 85297

    • Strip malls
    • 5,087 SF
    • 0.84 lot acres
    For Sale
    View listing
    Last Sale
    Oct 12, 2021
    $2,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2021779
    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

    • Elite Tae Kwon Do School / Martial Arts School
    • Filibertos / Mexican Restaurant

    Property Details for 3050 E Queen Creek Rd

    Year built
    2021
    Lot size
    0.84 lot acres
    Property size
    5,087 SF
    Zone code
    GC
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    304-59-975
    APU
    30459975

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,267,000
      Market price range: $1.13M - $2.86M
      AI Estimate
      $2,267,000
      Market price range: $1.13M - $2.86M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,850,000
      Current use
      RESTAURANT
      $2,795,000
      Change: +51% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,260,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $1,870,000
      Change: +1% Conversion: Easy
      OFFICE BUILDING
      $1,565,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Gilbert
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.724
    Latitude
    33.2637
    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
    $15,850
    $0.00
    $0.00
    $279,566
    -
    $647,700
    $1,046,640
    $1,694,340

    Comparable in this City

    • Value Estimation
      $9,365,000
      17,529 SF

      75 Rivulon Blvd

      SHOPPING CENTER, STRIP CENTER • 17,529 SF
      75 Rivulon Blvd, Gilbert, AZ 85297-0004
      View Details
    • Value Estimation
      $3,535,000
      15,960 SF

      3317 Higley Rd

      SHOPPING CENTER, STRIP CENTER • 15,960 SF
      3317 Higley Rd, Gilbert, AZ 85297-5436
      View Details
    • Value Estimation
      $3,990,000
      18,000 SF

      8490 Power Rd

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      8490 Power Rd, Gilbert, AZ 85297-8028
      View Details
    • Value Estimation
      $9,465,000
      27,033 SF

      4604 Higley Rd

      SHOPPING CENTER, STRIP CENTER • 27,033 SF
      4604 Higley Rd, Gilbert, AZ 85297-8513
      View Details
    • Value Estimation
      $2,685,000
      7,670 SF

      4764 Higley Rd

      SHOPPING CENTER, STRIP CENTER • 7,670 SF
      4764 Higley Rd, Gilbert, AZ 85297-8523
      View Details
    • Value Estimation
      $3,485,000
      9,687 SF

      3303 Queen Crk Rd

      SHOPPING CENTER, STRIP CENTER • 9,687 SF
      3303 Queen Crk Rd, Gilbert, AZ 85297-8532
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      315,000 SF

      Retail PAD Available For Sale

      Last retail pad available in Gilbert shopping center.
      3142 E Queen Creek Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      160,000 SF

      Retail Center and Pads Available

      Retail spaces and pads available in Gilbert, Arizona.
      4095 S Gilbert Rd, Gilbert, AZ 85297
      View Details
    • $1,462,000
      837 SF

      New NNN Ground Lease Opportunity

      New 20-year NNN ground lease in a growing area.
      3317 S Val Vista Dr, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      19,669 SF

      Higley Pavilion Retail Space Available

      Last 19,669 SF Retail PAD in Gilbert, AZ
      0 Cor Higley Rd & Queen Crk Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      4,994 SF

      Retail Space Near Gilbert Park

      Retail space available across from Gilbert Regional Park.
      3050 E Queen Creek Rd, Gilbert, AZ 85297
      View Details
    • $2,049,000
      1.95 Acres

      Gilbert Commercial Land - $2M

      Prime Gilbert land, ideal retail, Loop 202 access.
      14329 Lexington St, Gilbert, AZ 85297
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      160,000 SF

      Crossroads Towne Center: Gilbert, AZ

      Prime Gilbert Retail Center - 7 Spaces Available
      0 Sec Gilbert Rd & Germann Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      1,167 SF

      Retail Space in Power Center

      Retail space available in Southeast Valley's largest power center.
      3841 S Gilbert Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      28,000 SF

      Retail Space and Land Available

      Retail spaces and land for lease in Gilbert, Arizona.
      4075-4095 S Gilbert Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      6,000 SF

      Prime Retail Space, Power & Germann

      Maricopa County retail space available.
      0 Nwc Power & Germann, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      232,179 SF

      Prime Gilbert Executive Office Suites

      Val Vista & Germann Rd: 12 Suites Available
      0 Nwc- Val Vis Rd And Germann Rd, Gilbert, AZ 85297
      View Details
    • Contact for pricing
      2,320 SF

      Retail Space Near Val Vista

      Retail space in Gilbert, near Dignity Health Mercy Hospital.
      3635 Val Vista Dr, Gilbert, AZ 85297
      View Details

    Property Visit Statistics

    • Visits by month
      4.2k
    • Visitors by month
      5.6k
    • Avg Time on site
      16 min
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    Gilbert, AZ 85297
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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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