885 Warner Rd Gilbert, AZ 85296

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.