Property profile

714 Monterey St Gilbert, AZ 85233

OFF-MARKET
Flex space
Property ID
US07-2251058
10,760 SF 0.64 ac lot Built 1986
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

Industrial property located in Gilbert, Arizona, totaling approximately 11,534 square feet and configured for warehouse and flex-style use. The building includes electrical service rated at 1,100 amps of 120/208 volts and is equipped with a wet sprinkler system. The space is arranged as approximately 89% warehouse and 11% office. Warehouse access is provided by five grade-level doors, each approximately 10 feet by 12 feet, and the warehouse area has a clear height of about 16 feet 4 inches. Interior accommodations include one office and one bathroom within the warehouse area, while the office portion contains five private offices and two bathrooms, plus a mezzanine office. Additional on-site functionality includes a secured yard, a built-in spray booth, a kitchen/breakroom area with one bathroom, vinyl flooring in the reception area, an office/showroom area, and a skylight.

Property profile

Verified
Property type Flex space
Use group LIGHT INDUSTRIAL
Year built 1986
Construction CONCRETE
Total area 10,760 SF
Lot 0.64 ac (28,000 SF)
Zoning code LI
APN 302-15-048
UPID US07-2251058

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hardware & Home Improvement Production Facility

Location

714 Monterey St Gilbert, AZ 85233-3832
Gilbert metro Census 422401 PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.95M
Blend (final) Blend
$2.05M

Owner & transaction history

since 2022
Last sale
$2.2M
7 recorded transactions
2022
$2.2M
2021
Price N/A
2018
Price N/A
2016
Price N/A
2012
$390,000
2011
Price N/A
2006
$1.1M

Zoning & alternative use

LI · Gilbert, AZ
Zoning description

The intent of the Light Industrial zoning district is to provide for wholesale and warehousing uses as well as those manufacturing uses that include fabrication, manufacturing, assembly or processing of materials that ar…

General category INDUSTRIAL
Top alternative use upside
Medical building $2.8M +66.5%
Office building $2.4M +44.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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