720 W Ray Rd, Gilbert, AZ 85233

Retail · Gilbert · Phoenix metro, AZ

One of 718 reachable retail buildings in Gilbert. Larger than 45% of retail buildings in Gilbert (median 6,464 SF), derived from assessor records.

County gross building area
5,995 SF, Maricopa County Assessor
Lot size
42,672 SF, Maricopa County Assessor
Year built
1998, Maricopa County Assessor
Stories
1, Maricopa County Assessor
Predominant use
Bar Or Tavern, Maricopa County Assessor
Assessed value
$1,481,744, per the Maricopa County Assessor (not a market appraisal)
Assessed value per building SF
$247.16/SF, derived from assessor records
Building area / lot
0.14, derived from assessor records
Vintage
1990s vintage
County use code
BAR OR TAVERN

Nearby comparable buildings

Same building type, by distance. Assessor facts only; not an opinion of value.

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Sale history and market context

MakeMe Estimate: $1.94M (estimated market value), with a likely range of $1.55M to $2.3M (half of recent verified sales in this segment landed inside that range). Computed as the county's full cash value of $1,481,744 times a 1.31 market ratio, measured from 3891 verified arm's-length sale prices vs county values (retail sales in Gilbert, through 2026-06-29). Not an appraisal. How this estimate works.

lower confidence: 11 comparable sales within 3 miles; nearest 0.1 mi. This property type carries wider measured error; treat the estimate as a starting point. Last arm's-length sale: $1,025,000 in 2021. The market has moved since; the estimate reflects current county values and ratios, not that price.

Comparable sales used as evidence

Recorded arm's-length sales of similar buildings nearby; nearer and more recent sales rank first. The strongest 5 of 11 nearby verified sales are shown. Buyer and seller names are withheld. Get this data via API.

Market context: Retail in Gilbert

median verified sale $549.28/SF over the trailing 24 months; 11 sales in the last 12 months and 35 in 24 (newest verified sale 2026-03); the middle 80% of recent sales traded at 0.71x to 2.40x their county full cash value, median 1.38x (35 sales with usable county values).

  • 2022: $411.58/SF median (19 sales)
  • 2023: $511.51/SF median (8 sales)
  • 2024: $567.31/SF median (18 sales)
  • 2025: $452.59/SF median (9 sales)

This estimate sits at 1.31x county full cash value, the 49th percentile of those recent sale premiums.

Computed from 249 verified arm's-length sales in Maricopa County public records (35 in the trailing 24 months). Free public records. Not an appraisal.

Last sold: 2021-03-01 for $1,025,000 (recorded arm's-length sale).

Current ownership dates to 2021 (about 5 years) per recorded transfers.

Source: Maricopa County recorded sales extract; buyer and seller shown only when a company or organization. Individual names are withheld.

Value over time

$0$1M$2M$3M2021202320252027Last sold $1.02M · 2021$1.94M$1.48MCounty assessed valueRecorded sale

Dark line: county assessed value per Maricopa County tax rolls. Diamonds: recorded arm's-length sales.

Land, site, and value history

Assessed value moved from $1,480,857 (2026) to $1,481,745 (2027), up 0% over 1 years, per county tax rolls. The 2027 roll splits $1,481,745 into $616,500 land and $865,244 improvements.