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    Patriot Ave Derby, KS 67037

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    Patriot Ave Derby, KS 67037

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    Cap Rate Potential
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    • Land

    Property Details for 0 Patriot Ave

    Property type
    Land

    Description

    This exceptional 61,872 square foot commercial land parcel presents a unique investment opportunity in Derby, Kansas. Located at the northwest corner of Rock Rd. and 63rd St. S. (Patriot Ave.), this property boasts a B-3 General Business zoning designation, ideal for a wide range of commercial ventures. Situated in a rapidly growing retail area, less than ten minutes south of Wichita (population 389,938), this site benefits from high visibility and convenient access. The property is directly across the street from Derby North Middle School, with an approximate enrollment of 820 students, ensuring consistent foot traffic and community engagement. The area is experiencing significant development, including the recent addition of the 30-bed Rock Regional Hospital and Field Station Dinosaur Park, further enhancing its appeal and potential for future growth. Derby is a progressive community actively fostering self-supporting businesses, encompassing restaurants, entertainment, lodging, and medical services. 2023 taxes for this lot (Lot 9, Block A) are $12.77 general taxes, with special taxes to be determined. This property offers significant potential for investors seeking to capitalize on Derby's thriving commercial landscape. The approximate lot size is 61,872 square feet. The property's strategic location and favorable zoning make it an attractive proposition for a variety of commercial developments.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    Sedgwick
    State
    Kansas
    Longitude
    -97.2444
    Latitude
    37.5772

    Comparable in this City

    • Value Estimation by Request

      Buckner & Patriot Ave Nwc

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      0 Buckner & Patriot Ave Nwc, Derby, KS 67037
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      K-15 & Patriot Development Land

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      Derby Rock Rd. & Cambridge St

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      0 Derby Rock Rd. & Cambridge St, Derby, KS 67037
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      2200 Rock Rd

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      18.13 Acres

      Stone Creek St

      Land • 18.13 Acres
      0 Stone Creek St, Derby, KS 67037
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      1.40 Acres

      Of K-15 & Fronatge Rd

      Land • 1.40 Acres
      0 Of K-15 & Fronatge Rd, Derby, KS 67037
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      Land For Sale

      Land available for sale in Derby, Kansas.
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      Land For Sale

      Land available for sale.
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      165.55 Acres of Land

      165.55 acres of land available for sale.
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      18 SF

      Land Parcels at Buckner & Stone

      Corner lots available at Buckner & E Stone Creek St.
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      Corner Lots Land For Sale

      Land with corner lot on Buckner & E Stone Creek.
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    • $157,500
      2.98 Acres

      Land in Bluestem Estates

      Estate-sized lot in Derby School District, build your dream home.
      1 Blk A, Derby, KS 67037
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    Similar Nearby for Lease

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      Prime Land for Lease

      5 Acres with high visibility on Rock Road.
      2200 N Rock Rd, Derby, KS 67037
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      Prime Land Near Derby Marketplace

      Available land for ground lease or build-to-suit near retail.
      2306 N Rock Rd, Derby, KS 67037
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      Derby Retail Space Opportunity

      Retail space in Derby, Kansas with highway access.
      711 N Baltimore Ave, Derby, KS 67037
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      New Retail Center Built 2023

      Brand new retail center located in an area of commercial growth.
      2901 N Rock Rd, Derby, KS 67037
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      3,617 SF

      Class A Office Space Available

      Office space for lease in Derby, Kansas near Rock Road.
      1719 Cambridge St, Derby, KS 67037
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      Retail Space with Open Layout

      Retail space featuring an open floor plan and exposed ceilings.
      1636 N Rock Rd, Derby, KS 67037
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    Patriot Ave
    Derby, KS 67037
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    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
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    Patriot Ave, Derby, KS, 67037

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