Office/Warehouse with Five
215 & 219 S Water St. Derby, KS 67037
For Sale
$490,000
Well-maintained office/warehouse with five 10-by-10 drive-in overhead doors and quick access to Hwy K-15.
Property Size3,352 SF
Price / SF$146.18
Days on Market32
Property Features for 215 & 219 S Water St.
General Information
- Standard status
- Active
- Size
- 3,352 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1976
Listing Agency:
J.P. Weigand & Sons, Inc.
(316) 292-3967
Listed By:
Ben Gartner, SIOR, CCIM
Source:
Weigand
Added: Jun 25
Changed: Jul 10
Last Checked: Jul 26 at 4:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J.P. Weigand & Sons, Inc.
Investment Insights
Based on property information with market context.
This well-maintained office/warehouse building includes an office area of approximately 3,352 SF and five 10’ x 10’ drive-in overhead doors for straightforward loading and access. The property is being offered in connection with a tenant relocation, supporting an owner-user or multi-use configuration that pairs functional office space with warehouse operations.
The property is located at 215 & 219 S. Water St., Derby, KS 67037, with quick access to Hwy. K-15. The offering allows for the commercial building to be purchased separately or together, with the home not being sold separately prior to the commercial building.
For tenants and buyers seeking a combined workspace, the drive-in door setup supports daily receiving, deliveries, and storage needs while keeping office space on-site. The current layout should appeal to businesses that need proximity between administrative functions and warehouse activity, particularly when planning for continued operations during or after a relocation timeline.
The property is located at 215 & 219 S. Water St., Derby, KS 67037, with quick access to Hwy. K-15. The offering allows for the commercial building to be purchased separately or together, with the home not being sold separately prior to the commercial building.
For tenants and buyers seeking a combined workspace, the drive-in door setup supports daily receiving, deliveries, and storage needs while keeping office space on-site. The current layout should appeal to businesses that need proximity between administrative functions and warehouse activity, particularly when planning for continued operations during or after a relocation timeline.
Key Highlights
- 1976‑built well‑maintained office/warehouse building with approximately 3,352 SF office area
- Includes five 10' x 10' drive‑in overhead doors
- Quick access to Hwy K‑15
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.2k | $19.44 |
| − Vacancy | −$6.2k | −$1.85 |
| EGI | $59.0k | $17.59 |
| − OpEx | −$14.7k | −$4.40 |
| NOI | $44.2k | $13.19 |
3,352 SF · lease $19.44/SF/yr · vacancy 9.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$631.8K
$552.9K – $737.2K
NOI $44,229 @ 7.0% cap · market cap 9.03%
Second Best
Warehouse
$298.1K
$260.9K – $347.8K
NOI $20,868 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$698.7K
$611.3K – $815.1K
NOI $48,906 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar Off Market Nearby
- Big Apple Truck — 1 N Derby Ave, Derby, KS 67037
FAQs
What type of property is this?
Flex space - Well-maintained office/warehouse with five 10-by-10 drive-in overhead doors and quick access to Hwy K-15.
Where is this flex space located?
The property is located at 215 & 219 S Water St. Derby, KS.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: 1976‑built well‑maintained office/warehouse building with approximately 3,352 SF office area; Includes five 10' x 10' drive‑in overhead doors; Quick access to Hwy K‑15
