Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Auroa Ave. & Merle Hay Rd Des Moines, IA 50310
    Back to Search
    Property profile & analytics

    Auroa Ave. & Merle Hay Rd Des Moines, IA 50310

    View on Map
    • Retail properties & Spaces
    • 2,300 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Auroa Ave. & Merle Hay Rd

    Property size
    2,300 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 2,300 square foot medical office space is ideally situated in Des Moines, Polk County, Iowa, at the northeast corner of NW Aurora Avenue and Merle Hay Road. The entire space is currently vacant and ready for immediate occupancy, offering a unique opportunity for a medical practice or related business seeking a high-visibility location. The property is classified as both retail and office, providing flexibility for various uses within the medical field. Multiple tenancy is permitted, allowing for the potential to subdivide the space to suit specific needs. Ample parking is available for patients and staff, ensuring convenient access. The building's prime location benefits from high traffic volume and proximity to numerous established businesses, including Genesis Health Clubs, Sally Beauty, an Office Depot, Buffalo Wild Wings, Northern Tool + Equipment, Big Lots, Pet Supplies Plus, Hay Market Mall, and Merle Hay Mall. This strategic location offers excellent visibility and accessibility, attracting a large pool of potential patients and clients. The property's zip code is 50310. The coordinates are 41.6367 latitude and -93.6976548 longitude. This presents a rare opportunity to establish or expand a medical practice in a thriving commercial area. The property's size and location make it an attractive investment for those seeking a strong foothold in the Des Moines market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6977
    Latitude
    41.6367

    Comparable in this City

    • Value Estimation by Request
      3,402 SF

      4520 Merle Hay Rd

      MEDICAL BUILDING • 3,402 SF
      4520 Merle Hay Rd, Des Moines, IA 50310-1414
      View Details
    • Value Estimation
      $785,000
      6,232 SF

      5706 Hickman Rd

      MEDICAL BUILDING • 6,232 SF
      5706 Hickman Rd, Des Moines, IA 50310-1121
      View Details
    • Value Estimation
      $6,010,000
      12,987 SF

      4020 Merle Hay Rd

      MEDICAL BUILDING • 12,987 SF
      4020 Merle Hay Rd, Des Moines, IA 50310-1310
      View Details
    • Value Estimation
      $915,000
      22,489 SF

      1750 48th St

      MEDICAL BUILDING • 22,489 SF
      1750 48th St, Des Moines, IA 50310-1988
      View Details
    • Value Estimation by Request
      3,366 SF

      2901 Beaver Ave

      MEDICAL BUILDING • 3,366 SF
      2901 Beaver Ave, Des Moines, IA 50310-4041
      View Details
    • Value Estimation
      $2,220,000
      18,185 SF

      Des Moines, IA 50310

      MEDICAL BUILDING • 18,185 SF
      Des Moines, IA 50310
      View Details

    Similar Nearby for Sale

    • $389,000
      2,152 SF

      Des Moines Office Building For Sale

      Two-story office building near Des Moines VA Medical Center.
      3811 38Th St, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Luxury Mixed-Use Community in Des Moines

      42-unit mixed-use property with apartments, townhomes, and medical office.
      4362 Hickman Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Former Dentist Office with Space

      First and second floor office spaces available for lease.
      4919 Douglas Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing
      67,325 SF

      Former Office Building with Theater

      Former office building with attached theater, suitable for redevelopment.
      3850 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $1,450,000
      39,164 SF

      Des Moines Flex Industrial Space

      39,164 SF flex industrial space available for sale.
      101 Sheridan Ave, Des Moines, IA 50310
      View Details
    • $230,000
      Pending

      Beaverdale Office/Retail Building For Sale

      2,437 SF office/retail building in Des Moines' Beaverdale neighborhood.
      4418 Douglas Ave, Des Moines, IA 50310
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space Available For Lease

      Commercial space available for lease in Des Moines, Iowa.
      4944 Franklin Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Des Moines Office Space Available

      Office space available for lease in Des Moines, Iowa.
      4919 Douglas Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Des Moines Office Building For Sale

      Office building with ample parking and convenient location for sale.
      5601 Douglas Ave, Des Moines, IA 50310
      View Details
    • $24 SF/Yr

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      4212 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $14 SF/Yr
      1,400 SF

      Retail Space Near Merle Hay

      Retail spaces available in community strip center on Merle Hay.
      3408 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Retail Space on Hickman Road

      Stand-alone retail location with high visibility and ample parking.
      5625 Hickman Rd, Des Moines, IA 50310
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Auroa Ave. & Merle Hay Rd
    Des Moines, IA 50310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Auroa Ave. & Merle Hay Rd, Des Moines, IA, 50310
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!