647 W Ray Rd Unit 2 Gilbert, AZ 85233
Southwest Gilbert Neighborhood
1.25
Acres
$420,000
Price per Acre
54,450
Sq Ft Lot
About This Lot
As of May 2025*SELLER IN PROCESS OF REMOVING EGRESS EASEMENT RD THAT CUTS ACROSS PROPERTY AND WILL COMPLETE THIS PROCESS WITH AN ACCEPTED OFFER*Introducing a rare opportunity in the heart of Gilbert, Arizona's thriving commercial landscape! This prime parcel of 1.25 acres boasts unparalleled visibility with frontage on Ray Rd, making it an ideal investment for astute developers and entrepreneurs alike.Strategically zoned for shopping center development, this lot offers endless possibilities for those looking to capitalize on the burgeoning commercial demand in the area. Whether you envision a retail hub, dining destination, or a combination of both, this property is primed and ready to be transformed into a lucrative income-generating asset.Situated in the bustling East Valley growing population make it a magnet for businesses seeking to establish a strong foothold in the region.Don't miss out on the chance to secure your slice of Gilbert's commercial success story. Seize this opportunity to turn your vision into reality and unlock the full potential of this premier commercial lot. Act now and position yourself for success in one of Arizona's most coveted business districts!
Last Agent to Sell the Property
The Firm RE License #BR658731000 Listed on: 03/21/2024
Property Details
Property Type
- Land
Est. Annual Taxes
- $7,689
Lot Details
- 1.25 Acre Lot
- Additional Parcels
- Property is zoned SC
Community Details
- No Home Owners Association
- Cooper Square Finishline Carwash Lot 4 Replat Subdivision
Listing and Financial Details
- Tax Lot 2
- Assessor Parcel Number 302-83-963
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Mar 21, 2024
Closed on
May 1, 2025
Sold by
Suleshwari Properties Llc
Bought by
Iyer Properties Llc
Seller's Agent
Hannah Hammond
The Firm RE
Buyer's Agent
Aartie Aiyer
Aartie Aiyer Realty LLC
List Price
$600,000
Sold Price
$525,000
Premium/Discount to List
-$75,000
-12.5%
Total Days on Market
375
Views
99
Purchase Details
Closed on
Sep 20, 2021
Sold by
F & S Oil Iii Llc
Bought by
Suleshwari Gilbert Property Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$195,000
Interest Rate
2.7%
Mortgage Type
Commercial
Similar Properties in the area
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $525,000 | Title Services Of The Valley | |
| Special Warranty Deed | $195,000 | Thomas Title & Escrow |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $195,000 | Commercial | |
| Previous Owner | $1,000,000 | Unknown | |
| Previous Owner | $525,000 | Unknown |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/05/2025 05/05/25 | Sold | $525,000 | -8.7% | -- |
| 04/01/2025 04/01/25 | Pending | -- | -- | -- |
| 05/29/2024 05/29/24 | Price Changed | $575,000 | -4.2% | -- |
| 03/21/2024 03/21/24 | For Sale | $600,000 | -- | -- |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,845 | $86,177 | $86,177 | -- |
| 2024 | $7,689 | $82,073 | $82,073 | -- |
| 2023 | $7,689 | $101,370 | $101,370 | $0 |
| 2022 | $7,448 | $88,245 | $88,245 | $0 |
| 2021 | $7,654 | $88,245 | $88,245 | $0 |
| 2020 | $7,610 | $82,980 | $82,980 | $0 |
| 2019 | $7,339 | $74,220 | $74,220 | $0 |
| 2018 | $7,125 | $69,480 | $69,480 | $0 |
| 2017 | $6,715 | $64,335 | $64,335 | $0 |
| 2016 | $6,494 | $57,435 | $57,435 | $0 |
| 2015 | $6,629 | $56,432 | $56,432 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Hannah Hammond
Seller's Agent in 2025
Hannah Hammond
The Firm RE
(845) 492-9501
1 in this area
35 Total Sales
-
Amber Monaco
Seller Co-Listing Agent in 2025
Amber Monaco
The Firm RE
(845) 492-9501
1 in this area
4 Total Sales
-
Aartie Aiyer
Buyer's Agent in 2025
Aartie Aiyer
Aartie Aiyer Realty LLC
(480) 242-8573
2 in this area
118 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6680461
APN: 302-83-963
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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