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The Shops at Lindsay 857 E Warner Rd 5,011 SF 100% Leased Retail Building Gilbert, AZ 85296 $3,175,000 ($633.61/SF) 5.79% Cap Rate



Investment Highlights
- 100% leased, multi-tenant retail center with national and local tenants.
- Features a drive-thru component and outdoor patio.
- Provides stable income with annual rent escalations and built-in growth.
- Prime outparcel to Albertsons with strong visibility and traffic counts.
- Located near Loop 202 in Gilbert’s affluent trade area.
Executive Summary
The Shops at Lindsay, located at 857 E Warner Road in Gilbert, AZ, is a 5,011-square-foot retail center positioned on ±0.97 acres. Built in 2008, the property is 100% leased to a complementary tenant mix including Dunkin’ Donuts, A+ Family Dental, and Flavors of India. Strategically situated as an outparcel to an Albertsons-anchored shopping center at the high-visibility intersection of Warner Road and Lindsay Road, the asset benefits from strong traffic counts, excellent visibility, and proximity to Loop 202. Offering a current NOI of $183,788 and a 5.8% cap rate, the investment provides stable cash flow with annual rent escalations and built-in rent growth. The surrounding trade area features affluent demographics, high household incomes, and sustained population growth, making this a prime acquisition opportunity for investors seeking long-term appreciation. Listing price: $3,175,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,011 SF
Building Class
B
Year Built
2008
Price
$3,175,000
Price Per SF
$633.61
Cap Rate
5.79%
NOI
$183,788
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
0.98 AC
Zoning
PSC-1/SC - Planned Shopping Center/Shopping Center Commercial
Parking
29 Spaces (5.87 Spaces per 1,000 SF Leased)
Frontage
190’ on E Warner
Amenities
- Signage
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 304-25-920 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $149,347 |
Property Taxes
Parcel Number
304-25-920
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$149,347
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The Shops at Lindsay | 857 E Warner Rd
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