Animal Medical
New
For Sale
$625,000
4520 Merle Hay Rd, Des Moines, IA 50310
Existing veterinary clinic within a Highway Commercial District property in Des Moines.
Property Size2,250 SF
Lot Size0.48 Acres
Price / SF$277.78
Days on Market2
Property Features for 4520 Merle Hay Rd
General Information
Standard status
Active
Size
2,250 SF
Class
B
Lot size
0.48 Acres
Property subtype
Office
Zoning
C-H Highway Commercial District
Building Details
Building Size
2,250 SF
Year Built
1978
Listing Agency:
(515) 991-7000
Listed By:
Kevin Crowley, SIOR · License #IA #B17147000
(515) 991-7000
Source:
Iowacommercial
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 4:45AM
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 Kevin Crowley, SIOR
Investment Insights
Based on property information with market context.
This medical office property is occupied by an animal medical clinic in Des Moines, Iowa. The building contains 2,250 square feet and was built in 1978, providing an established commercial facility for veterinary operations.
The property encompasses 0.478 acres and carries C-H Highway Commercial District zoning. Its location at 4520 Merle Hay Rd places the clinic within a designated highway commercial setting.
The property encompasses 0.478 acres and carries C-H Highway Commercial District zoning. Its location at 4520 Merle Hay Rd places the clinic within a designated highway commercial setting.
Key Highlights
- 2,250‑square‑foot animal medical clinic
- Built in 1978
- 0.478‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,646
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$592,920
$592.9K
Cap Rate 7%
$423,514
$423.5K
Cap Rate 9%
$329,400
$329.4K
Market Conditions
NOI Build-Up for 2,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$49.4K $21.96/SF
− Vacancy
−$9.9K −$4.39/SF
EGI
$39.5K $17.57/SF
− OpEx
−$9.9K −$4.39/SF
NOI
$29.6K $13.18/SF
Area
Des Moines, IA
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$592,920
Cap Rate 7%
$423,514
Cap Rate 9%
$329,400
Alternative Uses
Best Use
Office B
$423.5K
$370.6K – $494.1K
NOI $29,646 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$372.6K
$326.0K – $434.7K
NOI $26,082 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$554.1K
$484.9K – $646.5K
NOI $38,789 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Balanced
Demand for This Use
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 Office in Des Moines, IA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Animal Medical Clinic — 4520 Merle Hay Rd, Des Moines, IA 50310
- BluePearl Pet Hospital — 4631 Merle Hay Rd, Des Moines, IA 50322
- Animal Medical Clinic: Heyer M H DVM — 4520 Merle Hay Rd, Des Moines, IA 50310
- Johnson M E DVM — 4520 Merle Hay Rd, Des Moines, IA 50310, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Existing veterinary clinic within a Highway Commercial District property in Des Moines.
Where is this medical office space located?
The property is located at 4520 Merle Hay Rd Des Moines, IA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,250‑square‑foot animal medical clinic; Built in 1978; 0.478‑acre lot
