Former Office Building with
For Sale
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3850 Merle Hay Rd, Des Moines, IA 50310
Former office building with attached theater, suitable for redevelopment.
Property Size67,325 SF
Price / SF$23.77
Days on Market2176
Property Features for 3850 Merle Hay Rd
General Information
Standard status
Active
Size
67,325 SF
Class
C
Property subtype
Multifamily, Hospitality, Senior Living
Zoning
C-4
Investment Type
Redevelopment
Building Details
Year Built
1966
Buildings
2
Stories
6
Units
50
Listing Agency:
SVN | CREATE Commercial Real Estate Advisors
(515) 416-7930
Listed By:
Nora Walsh · License #IA S66842000
Source:
Crexi
Added: Aug 24, 2020
Changed: Aug 8
Last Checked: May 19 at 9:29PM
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 SVN | CREATE Commercial Real Estate Advisors
Investment Insights
Based on property information with market context.
This former office building features six floors, each spanning 9,000 square feet. An attached former theater adds approximately 12,400 square feet, along with mezzanine space. The building is equipped with two passenger elevators and multiple offices on each floor. Given its direct connection to the mall and a walkability score of 74, the property is considered suitable for a senior housing or multi-family project. The location provides convenient access to grocery stores, lifestyle amenities, apparel retailers, entertainment venues, and the bus line. The former theater space could be repurposed for event space, a medical facility, a dining hall, or additional units. The total property size is 67,325 square feet.
Key Highlights
- Direct connection to Merle Hay Mall providing immediate access to grocery, lifestyle, apparel, entertainment, and the bus line.
- Suitable for Seniors Housing or Multi‑family project.
- Large 12,400 SF former theater space adaptable for event space, medical facility, dining hall, or additional units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Former office building with attached theater, suitable for redevelopment.
Where is this apartment building located?
The property is located at 3850 Merle Hay Rd Des Moines, IA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Direct connection to Merle Hay Mall providing immediate access to grocery, lifestyle, apparel, entertainment, and the bus line.; Suitable for Seniors Housing or Multi‑family project.; Large 12,400 SF former theater space adaptable for event space, medical facility, dining hall, or additional units.
