428 Gilbert RdGilbert, AZ 85296

Property Details for 428 Gilbert Rd

Lot size

1.91 AC

Zone code

GC

Property type

Office properties

APN

302-35-348

APU

30235348

Description

This exceptional investment opportunity presents a ±5,217 square foot multi-tenant executive office building located at 428 S. Gilbert Road, Gilbert, AZ 85296. The property, built in 2001 and renovated in 2018, boasts an 89% occupancy rate and a strong pro-forma net operating income (NOI) of $94,832.42, yielding an 8.00% capitalization rate. The asking price is $1,185,405, translating to $227 per square foot. The building features convenient client parking, including covered parking, and prominent monument signage on Gilbert Road for excellent visibility. Situated in the rapidly growing Town of Gilbert, Maricopa County, this property benefits from a high median household income and a well-educated workforce. Its strategic location provides easy access to major highways, including US-60, Loop 202, and Loop 101, and proximity to Sky Harbor International Airport (15 minutes) and Williams Gateway Airport (10 minutes). The property is zoned GC, Town of Gilbert, and its APN is 302-35-335, 302-35-336, 302-35-337, 302-35-338, and 302-35-339. The property also includes a distinctive courtyard and is part of a thriving community with robust residential and commercial development. This is an ideal investment for those seeking a high-performing asset in a desirable Arizona market. The property is currently 89% occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $24,716,742

  6.5%

  $22,815,454

  7%

  $21,185,778

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,525,220

  Geo Method

  $17,525,220

• Alternative Use

  Use

  Valuation

  Residential

  $28,291,162

  Hospitality

  $25,914,552

  Educational

  $21,560,604

  Medical

  $22,302,106

  Retail

  $33,538,716

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Latitude

33.3416

Longitude

-111.791

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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