Retail Building for
For Sale
$280,000
421-423 E Madison, Derby, KS 67037
Retail building available for sale at 421-423 E Madison Ave in Derby, Kansas.
Property Size2,400 SF
Days on Market108
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Property Features for 421-423 E Madison
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Zoning
B-4
Building Details
Building Size
2,400 SF
Year Built
1968
Listing Agency:
J.P. Weigand & Sons Inc.
Listed By:
Mark Schroeder · License #SP00022213
(316) 292-3946
Source:
Weigand
Added: Jun 30
Changed: Oct 8
Last Checked: Oct 14 at 9:52PM
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 offering is a retail building available for sale at 421-423 E Madison Ave. The property is presented as a two-address retail asset, which can be useful for tenants or buyers looking to consolidate space or evaluate multiple frontage points within a single purchase.
The location is in Derby, Kansas, with the legal/marketing address specified as 421-423 E Madison Ave. No additional site, building configuration, or improvement details were provided in the information available for this listing.
For prospective tenants, buyers, and brokers, this property may be of interest as a straightforward retail acquisition, with due diligence focused on the internal space layout, condition, and any options for occupancy that align with the building’s configuration. Because specific details such as unit count, square footage, and leasing or income history were not included, interested parties should verify those items directly as part of their evaluation. The information provided supports considering the building as a retail investment or redevelopment candidate, subject to inspection and confirmation of all operating and permitting requirements.
The location is in Derby, Kansas, with the legal/marketing address specified as 421-423 E Madison Ave. No additional site, building configuration, or improvement details were provided in the information available for this listing.
For prospective tenants, buyers, and brokers, this property may be of interest as a straightforward retail acquisition, with due diligence focused on the internal space layout, condition, and any options for occupancy that align with the building’s configuration. Because specific details such as unit count, square footage, and leasing or income history were not included, interested parties should verify those items directly as part of their evaluation. The information provided supports considering the building as a retail investment or redevelopment candidate, subject to inspection and confirmation of all operating and permitting requirements.
Key Highlights
- Retail building for sale at 421‑423 E Madison Ave in Derby, Kansas
- Built in 1968
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,738
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,760
$514.8K
Cap Rate 7%
$367,686
$367.7K
Cap Rate 9%
$285,978
$286.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$43.5K $18.12/SF
− Vacancy
−$6.7K −$2.80/SF
EGI
$36.8K $15.32/SF
− OpEx
−$11.0K −$4.60/SF
NOI
$25.7K $10.72/SF
Area
Sedgwick County, KS
Vacancy
15.45%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$514,760
Cap Rate 7%
$367,686
Cap Rate 9%
$285,978
Alternative Uses
Best Use
Retail
$367.7K
$321.7K – $429.0K
NOI $25,738 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.2K
$437.7K – $583.6K
NOI $35,016 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 77%
Shops & Services 23%
McDonald's
Dining
22,876 visits/mo
0.4 miles
Taco Bell
Dining
9,751 visits/mo
0.5 miles
Phillips 66
Shops & Services
5,214 visits/mo
0.5 miles
Dollar General
Shops & Services
5,008 visits/mo
0.2 miles
Gambino's
Dining
4,571 visits/mo
0.2 miles
Demographics for 67037, KS
30,005
Population
12,680
Households
2.4
Avg Household Size
37
Median Age
36%
College-Educated
96%
High-School Grad
53.6 sq mi
ZIP Area
560
Density / Sq Mi
$84,666
Median Household Income
$46,305
Median Earnings
$1,085
Median Rent
$227,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Retail building available for sale at 421-423 E Madison Ave in Derby, Kansas.
Where is this retail space located?
The property is located at 421-423 E Madison Derby, KS.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Retail building for sale at 421‑423 E Madison Ave in Derby, Kansas; Built in 1968
