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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Strip malls
1221 Rock Rd Derby, KS 67037-3678
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US33-0439362
Property summary
AI-generated overview
This exceptional restaurant opportunity encompasses a substantial 6,464 square feet of retail space in Sedgwick County, Kansas. The property is ideally suited for a multi-tenant operation, offering ample room for diverse culinary concepts or a large-scale establishment. Recent improvements include a fresh coat of paint throughout and a brand-new roof installed in 2024, ensuring a move-in ready condition for prospective tenants. The location benefits significantly from its proximity to a major development project: a new lagoon waterpark, currently under construction just 1.5 miles south. This exciting development promises increased foot traffic and heightened visibility for businesses in the immediate area. Derby, Kansas itself is experiencing robust population growth, with an average yearly increase of 0.73% since 2021, reaching 25,939 residents as of 2023. This upward trend indicates a strong and expanding market for food and beverage services. Further enhancing the property's appeal is the availability of prominent monument signage on Rock Road, providing excellent brand exposure and attracting potential customers. This turnkey restaurant space presents a compelling investment opportunity in a thriving community poised for continued expansion. The property's size, recent renovations, and strategic location combine to create an exceptional offering for discerning restaurateurs.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Total area
9,664 SF
Lot
0.94 ac (40,946 SF)
APN
087-233-06-0-14-04-003.00
UPID
US33-0439362
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Amber Harris, LCMFT Counselor
-
Mrs. Kimberly Davis Marriage Or Relationship Counselor
-
Life Anchor Counseling LLC Crisis Center Medical Clinic
-
The Rock Counseling Marriage Or Relationship Counselor Counselor
-
Hatching Ideas Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$514k
Blend (final)
Blend
$545k
Owner & transaction history
Asem Development LLC · 5 yrs held
Asem Development LLC
since 2020
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$895,000
+57.7%
Auto repair, garage
$850,000
+50.0%
Apartment house (5+ units)
$835,000
+47.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Derby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Derby submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$565,000
Current use
WAREHOUSE, STORAGE
$895,000
Change: +58% · Conversion: Difficult
AUTO REPAIR, GARAGE
$850,000
Change: +50% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$835,000
Change: +47% · Conversion: Difficult
MEDICAL BUILDING
$675,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$56 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$36,446
Tax year 2023
Assessed value
$269,075
Assessed 2024
Previous assessed
$255,625
+5.3% YoY
Effective rate
13.54%
On assessed value
Assessed land
$81,500
Assessed improvement
$187,575
Land market value
$326,000
Improvement market value
$750,300
Total market value
$1,076,300
Applied tax rate
5,601.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2006
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
9,664 SF
Lot
0.94 ac (40,946 SF)
APN
087-233-06-0-14-04-003.00
UPID
US33-0439362
Jurisdiction
SEDGWICK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$565,000
WAREHOUSE, STORAGE
Est. value
$895,000
AUTO REPAIR, GARAGE
Est. value
$850,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$835,000
MEDICAL BUILDING
Est. value
$675,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.94 ac
Current owner
From public records · entity-resolved
Asem Development LLC
Entity
Mailing address
13802 E STEEPLECHASE CIR STE #375, WICHITA, KS 67230-7134
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2020
—
Asem Development LLC
—
Deed
related
$1,093,896 · Rcb Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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