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, this location benefits from high traffic flow, ensuring maximum exposure for any business venture. Gilbert's dynamic economic environment and 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!
Property Details
Property Features
Listing Office:
Office Name: The Firm RE
Office Phone: (480) 716-1400
Listing Agent: Hannah Hammond
Exterior Features
Exterior Information:
Waterfront: See Remarks
Lot Features
Lot Information:
Lot: See Remarks
Lot Size: 1.25 Acres
School Info
Assigned Schools Information:
Perry High School, Public District Grades 9-12
Willis Junior High School, Public District Grades 7-8
Chandler Traditional Academy - Liberty Campus, Public District Grades KG-6
Price Information
Listing Price Info
Price Summary:
List Price: $600,000
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in Gilbert, AZ.
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$3,062
Per Month
Principal & Interest
$2,995
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$1,865
Powered By
Advertisement
NMLS#3030
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
8
/10
Chandler Traditional Academy - Liberty Campus
550 N Emmett Dr
Distance between this listing and this school0.66 miles
Public District Grades KG-6
Middle School
4
/10
Willis Junior High School
401 S Mcqueen Rd
Distance between this listing and this school1.91 miles
Public District Grades 7-8
High School
9
/10
Perry High School
1919 E Queen Creek Rd
Distance between this listing and this school5.11 miles
Public District Grades 9-12
Assigned Schools
8
/10
Chandler Traditional Academy - Liberty Campus
550 N Emmett Dr
Distance between this listing and this school0.66 miles
Public District Grades KG-6
Nearby Schools
3
/10
Sanborn Elementary School
700 N Superstition Blvd
Distance between this listing and this school0.90 miles
Public District Grades KG-6
7
/10
Imagine West Gilbert Elementary School
2061 S Gilbert Rd
Distance between this listing and this school0.98 miles
Public Charter Grades KG-5
Assigned Schools
4
/10
Willis Junior High School
401 S Mcqueen Rd
Distance between this listing and this school1.91 miles
Public District Grades 7-8
Nearby Schools
4
/10
Mesquite Jr High School
130 W Mesquite St
Distance between this listing and this school1.78 miles
Public District Grades 7-8
7
/10
South Valley Jr. High School
2034 S Lindsay Rd
Distance between this listing and this school1.81 miles
Public District Grades 7-8
Assigned Schools
9
/10
Perry High School
1919 E Queen Creek Rd
Distance between this listing and this school5.11 miles
Public District Grades 9-12
Nearby Schools
9
/10
Basis Chandler
1800 E Chandler Blvd
Distance between this listing and this school0.98 miles
Public Charter Grades 5-12
5
/10
Learning Foundation and Performing Arts Gilbert
1120 S Gilbert Rd
Distance between this listing and this school1.00 miles
The neighbors living near this home have an average income of $75,933. Typical income of Gilbert, AZ residents is between $35k-100k annually. Most families are married, with kids. The most common level of education of people living in this area is post secondary degree.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 647 W Ray Rd Unit 2
What is the listing price of this property?
The listing price of 647 W Ray Rd Unit 2 property is $600,000.
What type of property is this?
The property 647 W Ray Rd Unit 2 is land located in Gilbert, Arizona, 85233.
Is this property for sale now?
Active Listing: 647 W Ray Rd Unit 2 is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 647 W Ray Rd Unit 2 are: Chandler Traditional Academy - Liberty Campus: GreatSchools Rating 8/10Willis Junior High School: GreatSchools Rating 4/10Perry High School: GreatSchools Rating 9/10
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 647 W Ray Rd Unit 2 in Gilbert, AZ and zip code 85233. This home sits on a 1.25 acre lot. It has been listed on Rocket Homes since March 21, 2024 and is currently priced at $600,000.
In March 2024, from all listings sold in Gilbert, AZ there were more than 45 sold above asking price, over 153 sold below and more than 75 were sold right at the asked price. The inventory of homes for sale in Gilbert, AZ between February 2024 and March 2024 increased by 3.4%. While the average time on the market in March 2024 was 54 days, the median list price was $566,542.
From Rocket Homes Real Estate and based on county public records data.
The data relating to real estate for sale on this site comes from the Broker Reciprocity/IDX of Arizona Regional Multiple Listing Service, Inc. Indicates a property listed by a real estate brokerage other than Rocket Homes Real Estate, LLC. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Arizona Regional Multiple Listing Service, Inc. do not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing. Information deemed reliable but not guaranteed. Copyright© 2024 Arizona Regional Multiple Listing Service, Inc. All Rights Reserved.
Men's Tennis
Men's Tennis
Hiking/backpacking
Nordstrom Rack
Crate & Barrel
Bloomingdales
The Cheesecake Factory
Starbucks
Boston Market
Volvo
BMW
Audi
News
Alternative
Jazz