Flex Space with Great
421 E Madison Ave Derby, KS 67037
421 E Madison Ave, Derby, KS, 67037
Contact for pricing
For Sale
Contact for pricing
Flex space with easy access and prominent street visibility.
Property Size2,400 SF
Price / SF$116.67
Days on Market865
Property Features for 421 E Madison Ave
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1968
Listing Agency
J.P. Weigand & Sons Inc.
(316) 292-3946
Listed by
Mark Schroeder · License #KS SP00022213
Source
Crexi
Added: Mar 7, 2024 Updated: Jul 6 at 7:57 am Checked: Jul 20 at 3:54 am
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 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.
Key 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.
Local Financial Insights For Retail
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 | $43.5k | $18.12 |
| − Vacancy | −$6.7k | −$2.80 |
| EGI | $36.8k | $15.32 |
| − OpEx | −$11.0k | −$4.60 |
| NOI | $25.7k | $10.72 |
2,400 SF · lease $18.12/SF/yr · vacancy 15.45% · expense 30.00%
Alternative Uses
Best Use
Retail
$367.7K
$321.7K – $429.0K
NOI $25,738 @ 7.0% cap · market cap 9.19%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Elite Lawn Care ...
Landscaping
Madison Avenue Salon
Hair Salon
Similar For Sale Nearby
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.
