633 Ray RdGilbert, AZ 85296

Property Details for 633 Ray Rd

Lot size

4.00 AC

Zone code

CC

Property type

Office properties

APN

304-44-929

APU

30444929

Description

This 1,219-square-foot Class B office condo, built in 2004, presents a unique owner-user opportunity in Gilbert, Arizona. Located at 633 E Ray Rd, 85296, this single-tenancy property is ideally suited for medical or traditional office uses. The asking price is $419,000, translating to $343.72 per square foot. The property features convenient on-site secure storage/warehouse space, a rare amenity for smaller office users. Situated in Maricopa County, this location offers easy access to Loop 202 Freeway, ensuring seamless commuting for employees and clients. The thriving Gilbert market provides access to a robust workforce, a growing consumer base, and numerous business amenities. The area boasts a desirable blend of suburban charm and urban conveniences, attracting a diverse population with high levels of education, income, and homeownership. This makes it an attractive location for a wide range of businesses seeking a strategic foothold in a dynamic and expanding area. The property's combination of office space and secure storage makes it an exceptional investment for the right business.

• CAP approach

  CAP return

  Valuation

  6%

  $51,856,560

  6.5%

  $47,867,596

  7%

  $44,448,480

• Comparable approach

  Method

  Valuation

  Relative Method

  $36,768,016

  Geo Method

  $36,768,016

• Alternative Use

  Use

  Valuation

  Residential

  $59,355,820

  Hospitality

  $54,369,612

  Educational

  $45,234,876

  Medical

  $46,790,576

  Retail

  $70,365,368

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Latitude

33.3208

Longitude

-111.776

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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