Bank Branch with Drive-Up
For Sale
Contact for pricing
4500 Merle Hay Rd, Des Moines, IA 50310
The interior includes private offices, a customer reception area, and teller facilities.
Property Size2,950 SF
Price / SF$0.01
Days on Market2281
Property Features for 4500 Merle Hay Rd
General Information
Standard status
Active
Size
2,950 SF
Site & Location
Neighborhood
Merle Hay
Taxes and HOA fees
Annual Taxes
$21,053
Listing Agency:
Stanbrough Realty Company
(515) 334-3345
Listed By:
Andrew McCune · License #S64937000
(515) 402-1642
Source:
Exprealty
Added: Jul 27, 2020
Changed: Oct 23
Last Checked: Oct 24 at 7:02PM
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 Stanbrough Realty Company
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Investment Insights
Based on property information with market context.
This 2,950-square-foot bank space at 4500 Merle Hay Road is configured with five offices, a reception area, and a teller desk. A drive-up window and underground pneumatic tube system are also in place.
The property fronts Merle Hay Road in Des Moines, where the stated traffic count is 28,000 vehicles per day.
The property fronts Merle Hay Road in Des Moines, where the stated traffic count is 28,000 vehicles per day.
Key Highlights
- 2,950‑square‑foot space configured for banking
- Five offices, reception area, and teller desk
- Drive‑up window and underground pneumatic tube system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,652
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,040
$573.0K
Cap Rate 7%
$409,314
$409.3K
Cap Rate 9%
$318,356
$318.4K
Market Conditions
NOI Build-Up for 2,950 SF
Gross rent
$44.3K $15.00/SF
− Vacancy
−$3.3K −$1.13/SF
EGI
$40.9K $13.88/SF
− OpEx
−$12.3K −$4.16/SF
NOI
$28.7K $9.71/SF
Area
Des Moines, IA
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$573,040
Cap Rate 7%
$409,314
Cap Rate 9%
$318,356
Alternative Uses
Best Use
Specialty Retail
$499.1K
$436.8K – $582.3K
NOI $34,940 @ 7.0% cap · market cap 218,375.00%
Second Best
Retail
$409.3K
$358.2K – $477.5K
NOI $28,652 @ 7.0% cap · market cap 179,075.00%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,857 @ 7.0% cap · market cap 317,856.25%
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
524
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Des Moines, IA
Frequently Asked Questions
What type of property is this?
Bank - The interior includes private offices, a customer reception area, and teller facilities.
Where is this bank located?
The property is located at 4500 Merle Hay Rd Des Moines, IA.
What are key features of this property?
This property features: 2,950‑square‑foot space configured for banking; Five offices, reception area, and teller desk; Drive‑up window and underground pneumatic tube system
