Demisable Flex Office
421-423 E Madison Ave Derby, KS 67037
For Sale
Contact for pricing
Flex building with three rooms, break room, storage, two HVAC systems, and front and rear parking.
Property Size2,400 SF
Price / SF$116.67
Days on Market877
Property Features for 421-423 E Madison Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
RETAIL
Listing Agency:
J.P. Weigand & Sons, Inc.
(316) 292-3946
Listed By:
Mark Schroeder · License #SP00022213
(316) 292-3946
Source:
Moodyscre
Added: Mar 4, 2024
Changed: Jul 28
Last Checked: Jul 28 at 9:08PM
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 flex office building includes three flex rooms, a break room, and a storage area. The layout can be demised into two spaces for owner use and leasing, providing flexibility for an end user or an investor. Two HVAC systems support year-round comfort, and the property includes street and building signage.
Access is provided from K-15/Baltimore with front and rear parking on improved pavement. The site also benefits from visibility and is located near Madison Avenue Central Park, Derby City Hall, and Westview Retirement Center.
With demising capability and on-site parking at both the front and rear, the building is suited for tenants seeking a straightforward flex configuration in a practical access-oriented setting.
Access is provided from K-15/Baltimore with front and rear parking on improved pavement. The site also benefits from visibility and is located near Madison Avenue Central Park, Derby City Hall, and Westview Retirement Center.
With demising capability and on-site parking at both the front and rear, the building is suited for tenants seeking a straightforward flex configuration in a practical access-oriented setting.
Key Highlights
- Flex building with three flex rooms plus a break room and storage area
- Can be demised into two separate spaces for owner use and leasing
- Two HVAC systems
Financial Insights For Flex RnD
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 | $23.9k | $9.96 |
| − Vacancy | −$1.5k | −$0.61 |
| EGI | $22.4k | $9.35 |
| − OpEx | −$7.9k | −$3.27 |
| NOI | $14.6k | $6.08 |
2,400 SF · lease $9.96/SF/yr · vacancy 6.10% · expense 35.00%
Alternative Uses
Best Use
Office B
$452.4K
$395.9K – $527.8K
NOI $31,668 @ 7.0% cap · market cap 11.31%
Second Best
Flex RnD
$208.4K
$182.4K – $243.2K
NOI $14,590 @ 7.0% cap · market cap 5.21%
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.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Big Apple Truck — 1 N Derby Ave, Derby, KS 67037
Frequently Asked Questions
What type of property is this?
Flex space - Flex building with three rooms, break room, storage, two HVAC systems, and front and rear parking.
Where is this flex space located?
The property is located at 421-423 E Madison Ave 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: Flex building with three flex rooms plus a break room and storage area; Can be demised into two separate spaces for owner use and leasing; Two HVAC systems
