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Property profile & analytics
FOR LEASE
Strip malls
317 N Rock Rd Derby, KS 67037
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US33-0488915
For Lease
1 / 2
$1,960,000
317 N Rock Rd, Derby, KS 67037
View Listing →
Property summary
AI-generated overview
This exceptional retail opportunity is located at the prominent intersection of Rock Road and Madison in Derby, Kansas. The 51,726-square-foot building sits on a sizable 7.04-acre lot and boasts 388 parking spaces, ensuring ample customer convenience. Currently, 5,390 square feet of space is available for lease, with a minimum divisible unit of 1,500 square feet. The available space is situated on the north side of the building and offers excellent visibility. The property is zoned B-3, General Business District, allowing for a wide range of retail uses. Built in 1992, the center enjoys a strong tenant base including Planet Fitness, Ace Hardware, The Mattress Hub, and Jimmy's Egg, indicating a thriving commercial environment. The immediate area is well-established, with nearby banks, medical offices, restaurants, and Derby High School driving consistent foot traffic. Tenant improvements are not reflected in the lease rate. 2023 property taxes totaled $194,768.28 (general) and $7.11 (special).
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1992
Construction
FRAME
Total area
52,551 SF
Lot
7.04 ac (306,662 SF)
APN
087-233-07-0-11-01-001.01
UPID
US33-0488915
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
-
Planet Fitness Gym & Fitness Center
-
Jimmys Egg - Derby KS Restaurant
-
Westlake Ace Hardware Building Supply Hardware & Home Improvement
-
The Mattress Hub Derby, KS Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.71M
Blend (final)
Blend
$1.96M
Owner & transaction history
Mwcb Derby LLC · 8 yrs held
Mwcb Derby LLC
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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)
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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
$1,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,075,000
Current use
Blend value · Realmo final
$1.96M
Range $1.76M – $2.16M · ±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
$37 / 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
$194,775
Tax year 2023
Assessed value
$1,418,875
Assessed 2024
Previous assessed
$1,366,325
+3.8% YoY
Effective rate
13.73%
On assessed value
Assessed land
$380,475
Assessed improvement
$1,038,400
Land market value
$1,521,900
Improvement market value
$4,153,600
Total market value
$5,675,500
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
For Lease
Year built
1992
Construction
FRAME
Heating
SPACE
Cooling
AC.PACKAGE
Stories
1
Bathrooms
2
Total area
52,551 SF
Lot
7.04 ac (306,662 SF)
APN
087-233-07-0-11-01-001.01
UPID
US33-0488915
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
$3.1M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1992
Construction
FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Bathrooms
2
Lot
7.04 ac
Current owner
From public records · entity-resolved
Mwcb Derby LLC
Entity
Mailing address
317 N ROCK RD, DERBY, KS 67037-4074
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2020
—
Mwcb Derby LLC
—
Deed
related
$4,000,000 · Legacy Bank
Dec 21, 2017
—
Mwcb Derby LLC
Derby Group I LLC
Warranty Deed
$2,000,000 · Legacy 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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