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    3850 Merle Hay Rd Des Moines, IA 50310

    Sponsored
    For Sale
    $1,600,000

    Des Moines, IA: Adaptive Reuse Project

    Property size:
    67,325 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 67,325 square foot, Class C property, located at 3850 Merle Hay Rd in Des Moines, Iowa, presents a unique redevelopment opportunity. The two-building complex, built in 1966, features six stories and boasts a prime location directly connected to a super-regional mall, resulting in a walkability score of 74. The property includes a former 12,400 square foot theater with additional mezzanine space, offering versatile options for adaptive reuse. Each of the six floors in the main building encompasses approximately 9,000 square feet, previously configured as office space. The property currently sits vacant and is zoned C-4, making it ideal for multi-family or senior housing. Key features include two passenger elevators, ample surface and covered parking with multiple lot entrances, and a well-maintained HVAC system. The high-traffic location on Merle Hay Road, with approximately 50,000 vehicles per day, and proximity to three Des Moines Area Transit Authority bus stops, further enhances its appeal. The attached former cinema, with its flat roof offering patio potential, provides significant additional space for various uses, such as event space, medical facilities, or additional residential units. The Merle Hay trade area boasts a high concentration of high-income households. The asking price is $1,600,000 ($32.68/sq ft).

    Property Features for 3850 Merle Hay Rd

    General Information

    Property type
    Retirement homes
    Square Feet
    67,325 SF
    Class
    C

    Building Details

    Year Built
    1966
    Buildings
    2
    Stories
    6

    HighLights

    • Direct indoor access to a super‑regional mall.
    • High‑traffic location on Merle Hay Road (approx. 50,000 vehicles per day).
    • Controlled, fully‑lighted intersection.
    • Desirable location in the Merle Hay trade area with a high concentration of high‑income households.
    • Multiple lot entrances with ample surface and covered parking.
    • High walkability score (74).
    Property Profile Location Intelligence

    Current Use by Public Records

    Drake Headstart Head Start Center Catron Jerald L ... Psychologist Cathi's Salon Hair Salon Komen’s National Breast ... Association Or Organization Omega 3 Family ... Farm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7014387
    Latitude
    41.63204546

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    FAQs

    What type of property is this?
    Retirement home - Des Moines, IA: Adaptive Reuse Project
    Where is this retirement home 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 indoor access to a super-regional mall.; High-traffic location on Merle Hay Road (approx. 50,000 vehicles per day).; Controlled, fully-lighted intersection.
    Request Owner's contact information
    3850 Merle Hay Rd Des Moines, IA 50310
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3850 Merle Hay Rd Des Moines, IA 50310
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