Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Flex Space with Great Visibility Title is generated by Realmo AI

    421 E Madison Ave, Derby, KS 67037

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Flex space with easy access and prominent street visibility.

    Type:Retail
    Property size:
    2,400 SF
    Price / SF:
    $116/SF
    Added:
    Mar 7, 2024
    Days on Market:
    819
    Last Refresh:
    May 12 at 9:32 pm

    Property Features for 421 E Madison Ave

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    Mark Schroeder

    Listing agent Mark Schroeder License #KS SP00022213

    Listing office J.P. Weigand & Sons Inc.

    Listing date Mar 7, 2024

    Source Crexi

    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.

    HighLights

    • Great visibility and easy access from K‑15/Baltimore.
    • Building can be demised into two spaces for owner use and leasing.
    • Front and rear parking with improved pavement.
    • Three flex rooms, a break room, and a storage area.
    • Two HVAC systems.
    • Street and building signage.

    Overview

    This property features three flex rooms, a break room, and a storage area. The building, totaling 2400 square feet, can be divided into two spaces, accommodating both owner use and leasing opportunities. It is equipped with two HVAC systems. The property benefits from both street and building signage, enhancing its visibility. Improved pavement is present in the front and rear parking areas. The location offers great visibility and easy access from K-15/Baltimore. Its proximity to Madison Avenue Central Park, Derby City Hall, and Westview Retirement Center adds to its appeal.
    Property Profile Location Intelligence

    Current Use by Public Records

    Elite Lawn Care ... Landscaping Madison Avenue Salon Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2661671
    Latitude
    37.5476142

    Nearby Similar for Sale

    • $340,000
      2,194 SF

      Turnkey Derby Duplex Investment Opportunity

      Fully leased duplex in Derby with immediate cash flow.
      6411 S Vassar Ave, Derby, KS 67037-8695
      View Details
    • $139,000
      1,250 SF

      Garage Condominiums Near McConnell AFB

      Garage condominiums for vehicle storage, showrooms, or customized flex use.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Garage Condominium Flex Space

      Garage condominium near McConnell Air Force Base, customizable for various uses.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Garage Condominiums Near McConnell AFB

      Garage condominiums perfect for storage, showrooms, or customized flex use.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Derby, KS Flex Space

      Garage condominium near McConnell Air Force Base, customizable for various uses.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Rock 47 Flex Space

      Garage condominium near McConnell Air Force Base, customizable for various uses.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Rock 47 Flex Space

      Garage condominium near McConnell Air Force Base, suitable for flex use.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Garage Condominium Flex Space

      Garage condominium at 47th and Rock Rd, near McConnell AFB.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $139,000
      1,250 SF

      Rock 47 Flex Space

      Garage condominium near McConnell Air Force Base, customizable for various uses.
      9125 E 47th St S, Derby, KS 67037-9406
      View Details
    • $4,100,000
      37,038 SF

      Derby Retail Center For Sale

      High-performing retail center in Derby, Kansas, 92% occupied.
      620 North Rock Road, Derby, KS 67037
      View Details
    • $4,100,000
      37,038 SF

      Derby Retail Investment Opportunity

      Retail investment property in Derby, KS with national and regional tenants.
      620 N. Rock, Derby, KS 67037
      View Details
    • $4,100,000
      37,038 SF

      Retail Center Investment Opportunity

      Retail center in Derby, KS with national and regional tenants.
      620 N. Rock, Derby, KS 67037
      View Details

    FAQs

    What type of property is this?
    Retail space - Flex space with easy access and prominent street visibility.
    Where is this retail space located?
    The property is located at 421 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: Great visibility and easy access from K‑15/Baltimore.; Building can be demised into two spaces for owner use and leasing.; Front and rear parking with improved pavement.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mark Schroeder
    Real Estate License ID: KS SP00022213
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    421 E Madison Ave, Derby, KS 67037
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!