Flex Space with Great
For Sale
Contact for pricing
421 E Madison Ave, Derby, KS 67037
Flex space with easy access and prominent street visibility.
Property Size2,400 SF
Price / SF$116.67
Days on Market956
Property Features for 421 E Madison Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Zoning
B-4
Building Details
Year Built
1968
Buildings
1
Units
1
Listing Agency:
J.P. Weigand & Sons Inc.
Listed By:
Mark Schroeder · License #KS SP00022213
(316) 292-3946
Source:
Crexi
Added: Mar 7, 2024
Changed: Oct 14
Last Checked: Oct 19 at 5:14AM
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.
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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.
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
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.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
539
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
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.
