Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,325,000
Grocery and convenience stores
797 Ray Rd Gilbert, AZ 85296-4089
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US07-3169922
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2000
Construction
STEEL FRAME
Total area
2,958 SF
Lot
1.07 ac (46,435 SF)
Zoning code
CC
APN
304-43-268
UPID
US07-3169922
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
-
76 Gas Station
-
Athena Bitcoin ATM Crypto Atm Atm
-
U-Haul Neighborhood Dealer Car Rental Facility
-
DigitalMint Bitcoin ATM Atm Currency Exchange Service
-
Blue Owl Catering Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.33M
Owner & transaction history
Mehtas Estates LLC · 5 yrs held
Mehtas Estates LLC
since 2021
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
CC · Gilbert, AZ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of Community Commercial zoning is to allow the integration of less intense small to medium scale businesses within proximity of neighborhoods. The uses permitted within CC are limited in size and scale and are primarily focused on workforce and neighborhood service needs.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
458.78 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$2.4M
+120.5%
Auto repair, garage
$1.3M
+22.0%
Retail stores
$1.1M
+0.9%
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
$1,325,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,075,000
Current use
COMMERCIAL (GENERAL)
$2,375,000
Change: +121% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,315,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$1,085,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$1.33M
Range $1.19M – $1.46M · ±10% · vs last sale $1.60M (Jun 11 2021)
Last sale anchor
$1.60M
Jun 11 2021
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
$448 / 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
$16,435
Tax year 2023
Assessed value
$313,831
Assessed 2024
Previous assessed
$285,124
+10.1% YoY
Effective rate
5.24%
On assessed value
Land market value
$1,300,100
Improvement market value
$601,908
Total market value
$1,902,008
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2000
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Units
2
Total area
2,958 SF
Lot
1.07 ac (46,435 SF)
Zoning code
CC
APN
304-43-268
UPID
US07-3169922
Jurisdiction
MARICOPA
Zoning & alternative use
CC · Gilbert, AZZoning CC · permitted uses
CC · Gilbert, AZ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of Community Commercial zoning is to allow the integration of less intense small to medium scale businesses within proximity of neighborhoods. The uses permitted within CC are limited in size and scale and are primarily focused on workforce and neighborhood service needs.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
458.78 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
2000
Construction
STEEL FRAME
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Units
2
Lot
1.07 ac
Current owner
From public records · entity-resolved
Mehtas Estates LLC
Entity
Mailing address
4104 E MEAD WAY, CHANDLER, AZ 85249-6061
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 17, 2026
—
R Mehtas Estates LLC
—
Deed
related
$1,050,000 · Jackson Food Stores INC
Feb 7, 2024
—
Mehtas Estates LLC
—
Deed
related
$1,950,000 · Western Alliance Bank
Feb 1, 2024
—
Mehtas Estates LLC
—
Deed
related
$1,950,000 · Western Alliance Bank
May 11, 2023
—
Mehtas Estates LLC
—
Deed
related
$1,577,500 · The Huntington National Bank
Jun 11, 2021
$1,600,000
Mehtas Estates LLC
Rajirejo Land LLC
Warranty Deed
$1,800,000 · Bbcn Bank
Jan 8, 2020
$1,530,000
Rajirejo Land LLC
Darayus B Mistry
Special Warranty Deed
$1,249,000 · Metro Phoenix Bank
Dec 23, 2008
$1,000,000
Mistry Family Trust
Bbc LLC
Grant Deed
$200,000 · Murphy Funding LLC
May 17, 2000
—
Bbc LLC
Cwa LLC
Grant Deed
$821,500 · Us Bank NA
—
—
Mistry Family Trust
—
Deed Of Trust
related
$650,000 · United Central Bank
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?”
You own 797 Ray Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
