New search
Property profile & analytics
FOR LEASE
Flex space
660 N Neely St, Gilbert, AZ 85233
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US07-0831795
For Lease
1 / 2
$1.30 SF/Yr
660 N Neely St, Gilbert, AZ 85233
View Listing →
Property summary
AI-generated overview
This exceptional 1,550 square foot space, part of a larger 102,641 square foot multi-tenant building at 660 N Neely St in Gilbert, Arizona, presents a unique opportunity. Located in the Chandler N Gilbert Ind submarket of Maricopa County, this property offers a blend of office and industrial functionality, ideal for a variety of businesses. Built in 1987, the building boasts a 14-foot ceiling height, providing ample vertical space for operations or storage. The space is zoned I-1 by the City of Gilbert, ensuring flexibility for various permitted uses. Power is readily available with 120/208 V, 3-phase service. The property's strategic location in Gilbert, AZ, zip code 85233, offers convenient access to major transportation routes and a thriving business community. This is a rare opportunity to secure a well-maintained space within a larger, established complex. The available space is currently vacant and ready for immediate occupancy. Contact us today to schedule a viewing and explore the possibilities this property offers.
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1987
Construction
CONCRETE
Total area
10,366 SF
Lot
0.98 ac (42,800 SF)
Zoning code
LI
APN
302-15-029
UPID
US07-0831795
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
-
Bionicle Plumber LLC Plumbing Service General Contractor
-
Rune Refinery (Bike/Boat/Book/etc) Store
-
Metal Spinning Solutions Inc Industrial Manufacturer Production Facility
-
Andyvine Market Artist
-
Architectural Woodcarving General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.04M
Blend (final)
Blend
$2.05M
Owner & transaction history
Neely Industrial LLC · 20 yrs held
Neely Industrial LLC
since 2006
6 recorded transactions
Zoning & alternative use
LI · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.7M
+66.5%
Office building
$2.3M
+44.9%
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
INDUSTRIAL (GENERAL)
$1,590,000
Current use
MEDICAL BUILDING
$2,650,000
Change: +66% · Conversion: Difficult
OFFICE BUILDING
$2,305,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$2.05M
Range $1.84M – $2.25M · ±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
$197 / 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
$12,661
Tax year 2023
Assessed value
$361,136
Assessed 2024
Previous assessed
$266,203
+35.7% YoY
Effective rate
3.51%
On assessed value
Land market value
$249,800
Improvement market value
$1,938,900
Total market value
$2,188,700
Applied tax rate
410,600.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
For Lease
Year built
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
YES
Buildings
2
Stories
1
Units
2
Total area
10,366 SF
Lot
0.98 ac (42,800 SF)
Zoning code
LI
APN
302-15-029
UPID
US07-0831795
Jurisdiction
MARICOPA
Zoning & alternative use
LI · Gilbert, AZ
Zoning LI · permitted uses
LI · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gilbert. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.3M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
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
1987
Construction
CONCRETE
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
2
Units
2
Lot
0.98 ac
Current owner
From public records · entity-resolved
Neely Industrial LLC
Entity
Mailing address
271 PORTLOCK RD APT A, HONOLULU, HI 96825-2052
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2025
—
Neely Industrial LLC
—
Deed
related
$1,985,000 · The John Nierad II Ira
Jan 25, 2006
—
Neely Industrial LLC
Wade,john L JR
Grant Deed
related
$1,000,000 · Bank Of The West
Mar 31, 1997
$2,120,000
John L Wade JR.
Bernard & Marianne Ake
Grant Deed
—
Mar 22, 1991
—
Marianne Ake
M
Grant Deed
related
—
—
—
Neely Industrial LLC
—
Deed Of Trust
related
$375,000 · John S II Nierad
—
—
Neely Industrial LLC
—
Deed Of Trust
related
$998,000 · Bank Of The West
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
