525 Gilbert RdMesa, AZ 85204

Property Details for 525 Gilbert Rd

Year built

1987

Construction

CONCRETE

Lot size

1.28 AC

Property size (Sq ft)

15,720 SF

Zone code

LC

Property type

Strip malls

Property subtype

Neighborhood centers

APN

140-42-416B

APU

14042416B

Description

Gilbert Plaza2, located at 525 S Gilbert Rd in Mesa, Arizona (zip code 85204), presents a compelling retail investment opportunity. This shopping complex, built in 1987 and extensively renovated in 2024, comprises two single-story buildings totaling 20,500 square feet. The property currently offers two vacant retail spaces, ideal for a variety of businesses. One space measures 1,200 square feet, while the other is 1,600 square feet (formerly a massage center). These spaces can be combined to create a contiguous area of 2,800 square feet, providing flexibility for larger tenants. The minimum divisible space is 1,200 square feet, making it suitable for smaller businesses as well. The complex features a total of 11 suites, indicating a thriving retail environment. Situated in Maricopa County, this property benefits from excellent visibility and accessibility due to its location at the intersection of Broadway and Gilbert Road in Mesa. The property's recent renovation ensures modern amenities and a well-maintained appearance, attracting both tenants and customers. This is an exceptional opportunity to acquire a well-located, updated retail property in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $5,697,470

  6.5%

  $5,259,200

  7%

  $4,883,540

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,687,960

  Geo Method

  $3,687,960

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $10,251,000

  Mixed-Use / Specialty

  $5,242,470

  Hospitality / Lodging

  $3,848,870

  Office

  $5,213,430

  Institutional / Educational

  $5,450,780

  Residential Income

  $6,377,410

  Multifamily

  $7,637,520

  Automotive / Energy

  $4,672,100

  Parking / Income-Based Land

  $1,610,290

  Restaurant / Food Service

  $2,730,960

  Healthcare / Senior Housing

  $5,373,990

Location Insight

City

Mesa

County

Maricopa

State

Arizona

Latitude

33.406

Longitude

-111.788

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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