885 Warner Rd Gilbert, AZ 85296-3075
Property profile & analytics
885 Warner Rd Gilbert, AZ 85296-3075
- Retail space
- 8,494 SF
- 1.14 lot acres
Property ID
US07-1540059
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.
Location Intelligence
Current Use by Public Records
- Taco Bell / Restaurant
- Michael Cullens Collins Chiro / Alternative Medicine Practice
- Banner Physical Therapy - Gilbert - Warner / Medical Clinic
- Collins Chiropractic / Alternative Medicine Practice
- Mobility City / Production Facility
Property Details for 885 Warner Rd
- Year built
- 2008
- Construction
- STEEL FRAME
- Lot size
- 1.14 lot acres
- Property size
- 8,494 SF
- Zone code
- SC
- Property type
- Retail space
- APN
- 304-25-921
- APU
- 30425921
Description
This exceptional 8,500 square foot shopping center in Gilbert, Arizona, presents a compelling investment opportunity. Priced at $2,750,000, it boasts a 6.08% cap rate and a substantial net operating income (NOI) of $167,144. Currently 100% occupied by four tenants in a triple-net (NNN) lease structure, the property offers immediate value-add potential. Two tenants are significantly below market rent, averaging $19.66 per square foot, while the submarket average is approximately $27.00 per square foot. One tenant's lease expires in April 2025, presenting an immediate opportunity to increase rental income. Built in 2008 on a 1.14-acre lot, the center benefits from its location on Warner Road, a high-traffic corridor with over 49,500 vehicles per day, providing excellent visibility. The property is strategically positioned near major retailers including Target, Lifetime Fitness, and Home Depot, serving a dense population with high average household incomes exceeding $128,134 within a 5-mile radius and $141,768 within 3 miles. The property is anchored by an Albertsons grocery store, which recently completed over $1.5 million in renovations, demonstrating a long-term commitment to the location. Rent bumps are included in the lease agreements.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,630,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,560,000
- 6.5%
- $1,440,000
- 7%
- $1,340,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,229,000
- AI Estimate
- $1,809,000
Market price range: $1.59M - $5.90MMarket price range: $1.57M - $5.02M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $3,120,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $3,090,000 Change: -1% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Gilbert
- County
- Maricopa
- State
- Arizona
- Longitude
- -111.771
- Latitude
- 33.335
- 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
$16,736
$0.00
$0.00
$278,355
-
$519,700
$1,167,300
$1,687,000
