Log In/Sign Up
Your email has been sent.
615 W Ray Rd 4,306 SF Specialty Building Offered at $4,442,913 CAD at a 6.67% Cap Rate in Gilbert, AZ 85233
Investment Highlights
- Stabilized NNN Investment
- Prime Gilbert Location on Ray Rd & Cooper Rd
- Modern Express Car Wash Facility
Executive Summary
Located in the heart of Gilbert’s thriving Ray Road corridor, this well-maintained express car wash investment at 615 W Ray Rd offers a rare opportunity to acquire a stabilized, tenant-operated asset in a high-traffic retail and residential trade area. The property features a 100-foot express wash tunnel designed for speed and convenience, supported by three automated credit card kiosks with license plate recognition at the entrance and a covered canopy at both the entry and tunnel exit for efficient vehicle flow and customer comfort.
The main structure includes approximately 3,400 square feet of interior space, featuring three dedicated detail bays that complement the express wash operations. The site is equipped with 12 vacuum stations and modern tunnel equipment, both less than three years old and certified, ensuring reliable performance and minimal near-term capital requirements.
The property sits on 1.7 acres and also includes a separate auto service building with two detail bays and underground access with storage, occupied by an additional tenant. Both buildings are tenant-operated under long-term 10-year leases, providing stable income through triple-net (NNN) structures, where tenants are responsible for operating expenses.
The asset has undergone extensive upgrades and renovations completed between late 2025 and early 2026, including a new roof, new HVAC systems and swamp coolers, updated plumbing and fixtures, fresh exterior paint, new windows, and a newly paved lot. The site is professionally maintained with regularly serviced gutters and drainage infrastructure.
Positioned between Ray Road and Cooper Road, the property benefits from strong daily traffic counts and a dense mix of surrounding residential neighborhoods and commercial amenities. With modern equipment, recent capital improvements, and committed operators who take pride in their service, this offering represents a turn-key, low-management investment opportunity in one of Gilbert’s most active retail corridors.
The main structure includes approximately 3,400 square feet of interior space, featuring three dedicated detail bays that complement the express wash operations. The site is equipped with 12 vacuum stations and modern tunnel equipment, both less than three years old and certified, ensuring reliable performance and minimal near-term capital requirements.
The property sits on 1.7 acres and also includes a separate auto service building with two detail bays and underground access with storage, occupied by an additional tenant. Both buildings are tenant-operated under long-term 10-year leases, providing stable income through triple-net (NNN) structures, where tenants are responsible for operating expenses.
The asset has undergone extensive upgrades and renovations completed between late 2025 and early 2026, including a new roof, new HVAC systems and swamp coolers, updated plumbing and fixtures, fresh exterior paint, new windows, and a newly paved lot. The site is professionally maintained with regularly serviced gutters and drainage infrastructure.
Positioned between Ray Road and Cooper Road, the property benefits from strong daily traffic counts and a dense mix of surrounding residential neighborhoods and commercial amenities. With modern equipment, recent capital improvements, and committed operators who take pride in their service, this offering represents a turn-key, low-management investment opportunity in one of Gilbert’s most active retail corridors.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$296,356
|
$68.82
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $296,356 |
| Annual Per SF | $68.82 |
Property Facts
| Price | $4,442,913 CAD | Building Class | B |
| Price Per SF | $1,031.80 CAD | Lot Size | 1.73 AC |
| Sale Type | Investment | Building Size | 4,306 SF |
| Cap Rate | 6.67% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2004 |
| Property Subtype | Car Wash | Parking Ratio | 2.79/1,000 SF |
| Zoning | C-C - C-C; Commercial, Full service car wash, detail, oil and lube, windows tinting, etc. | ||
| Price | $4,442,913 CAD |
| Price Per SF | $1,031.80 CAD |
| Sale Type | Investment |
| Cap Rate | 6.67% |
| Property Type | Specialty |
| Property Subtype | Car Wash |
| Building Class | B |
| Lot Size | 1.73 AC |
| Building Size | 4,306 SF |
| No. Stories | 1 |
| Year Built | 2004 |
| Parking Ratio | 2.79/1,000 SF |
| Zoning | C-C - C-C; Commercial, Full service car wash, detail, oil and lube, windows tinting, etc. |
Amenities
- Bus Line
- Signage
- Air Conditioning
1 1
Property Taxes
| Parcel Number | 302-83-962 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $347,762 CAD (2025) |
Property Taxes
Parcel Number
302-83-962
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$347,762 CAD (2025)
1 of 77
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
615 W Ray Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.