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388 N Gilbert Road - Heritage Marketplace - Bldg 3, Gilbert, AZ

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388 N Gilbert Road - Heritage Marketplace - Bldg 3

Gilbert, AZ 85234-5770 - Gilbert Ret Submarket

(2.5 MB)

Property Type:Retail Sub Type:Restaurant Status:Existing Year Built:2014
Building Size:4,500 SF Land Area:1.03 AC (44,719 SF)
For Sale Price:$2,700,000 Price/SF:$600.00
Cap Rate:5.55 %
Portfolio:This property is for sale as part of a portfolio of 4 properties. Parking:Free Surface spaces are available; Ratio of 2.79/1,000 SF
Features:Bus Line



Sale Notes:
Single tenant NNN ten year original lease with eight years remaining, the existing rental rate of $33/SF NNN escallates in May 2020 to $36/SF NNN

Prominent frontage along Gilbert Road

Part of Heritage Marketplace - the largest and most prominent property in the Heritage District
Surrounded by top-tier demographics charcterized as highly dense with 1.1 million people within 20 minutes, youthful, working class and prosperous(Gilbert's average household income is $100,584)

4500 SF building that is 100% leased to Barrio Queen (multiple unit opperator)

Barrio Queen was established in 2011, which offers sophisticated authentic Mexican comfort food.

Cushman & Wakefield
Eric J Wichterman
(602) 224-4471 x271

Michael Coover
(602) 224-4473

Michael P Hackett
(602) 224-4449

Chris Hollenbeck
(602) 224-4475

Ryan J Schubert
(602) 224-4472




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