NOT LISTED FOR SALE

647 W Ray Rd Unit 2 Gilbert, AZ 85233

Southwest Gilbert Neighborhood

Estimated Value: $514,449

1.25 Acres
$411,559 Price per Acre
54,450 Sq Ft Lot

Sale Details

Date Sold: May 5, 2025

Last sale price $525,000

Est. 2% decrease in value since last sale

Current estimated payment $3,426 / mo

375 Days on Market

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

Hannah Hammond

The Firm RE License #BR658731000 Listed on: 03/21/2024

Co-Listed By

Amber Monaco

The Firm RE License #SA708280000

Last Buyer's Agent

Aartie Aiyer

Aartie Aiyer Realty LLC License #BR560106000

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

Property Details

Property Type

Land

Est. Annual Taxes

$7,689

Lot Details

1.25 Acres

Listing Details

  • Cross Street: Ray Rd & Cooper Rd
  • Legal Info Range: 5E
  • Property Type: Land
  • Zoning: SC
  • Tax Year: 2023
  • Lot Size Acres: 1.25
  • Co List Office Mls Id: reatf001
  • Co List Office Phone: 480-716-1400
  • Subdivision Name: COOPER SQUARE FINISHLINE CARWASH LOT 4 REPLAT
  • Special Features: None
  • Property Sub Type: LotsLands

Exterior Features

  • Disclosures: Other (See Rmks)

Utilities

  • Electric: Other (See Rmks)
  • Water Source: See Remarks

Condo/Co-op/Association

  • Association: No

Schools

  • Junior High Dist: Chandler Unified District

Lot Info

  • Lot Size: rectangular
  • Lot Size Sq Ft: 54307.0
  • Additional Parcels: Yes
  • Parcel #: 302-83-963
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Annual Amount: 7689.0
  • Tax Book Number: 302.00
  • Tax Lot: 2
  • Tax Map Number: 83.00

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 21, 2024
Closed on
May 1, 2025
Sold by
Bought by
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%
Views
99
Current Estimated Value
$514,449

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$10,551
Avg. Annual Appreciation
-1.72%

Purchase Details

Closed on
Sep 20, 2021
Sold by
Bought by

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
0.027%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$525,000 Title Services Of The Valley
$195,000 Thomas Title & Escrow Llc
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $195,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $7,970 $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

    (480) 560-7157

    1 in this area

    40 Total Sales

    Hannah Hammond
    Section Image
  • Amber Monaco

    Seller Co-Listing Agent in 2025

    Amber Monaco

    The Firm RE

    (845) 492-9501

    1 in this area

    11 Total Sales

    Amber Monaco
    Section Image
  • Aartie Aiyer

    Buyer's Agent in 2025

    Aartie Aiyer

    Aartie Aiyer Realty LLC

    (480) 242-8573

    3 in this area

    104 Total Sales

    Aartie Aiyer
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6680461

Arizona Regional Multiple Listing Service (ARMLS)

APN: 302-83-963

Arizona Maricopa County Gilbert 85233 Southwest Gilbert

647 W Ray Rd Unit 2, Gilbert, AZ

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.

Arizona Regional Multiple Listing Service (ARMLS) 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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