Gilbert, AZ has quickly become a desirable place. From amazing restaurants to family fun, people from all over the state are coming to see what’s new.

Recently the Western Audio location, just north of O.H.S.O and Creamistry on Gilbert Rd, has sold, and it sold big–for $1.6 million! What does a sale like this do for you and the city of Gilbert, AZ?

MORE OPTIONS DOWNTOWN

Unless you were a regular customer of Western Audio, you’re likely excited about this news. The details of the development are yet to be announced, but most believe the purchase of this property means another great location turned into something fun for the public.

One of my favorite aspects of downtown Gilbert is how well it allows for spontaneity.

“What do you want to do tonight?”

“Let’s grab some food.”

“What do you feel like?”

“Not sure. Let’s just go to downtown Gilbert and figure it out when we get there.”

With so many wonderful options in Gilbert, AZ, it provides a general destination to be chosen and an exact location to be picked on the fly. This new land purchase likely means yet another option to choose from when spending time downtown.

If you’re interested in learning more about what’s next for Gilbert, check this article for more details.

MORE MONEY COMING IN

For 4,882 square feet of land, $1.6 million is a lot of money. This equates to $327 per square foot. Though comparing commercial real estate rates to residential is not a wise practice, you might be wondering what this does to the value of your home. Per Valley Wide Homes, Gilbert home values are roughly estimated at $162 per square foot. This estimate probably won’t change as a result of Western Audio land sale. More importantly, you must always remember the value of your home only matters when you’re selling it.

However, more money and increased economic activity is coming to our town and this is always a positive. Expanding our local economy creates more jobs and public destinations and therefore, more demand for housing.

If you’re considering placing your home on the market, schedule some time with one of our home loan advisors. We would be honored to work with you to help make it a wise and fruitful financial endeavor.