3800 Merle Hay Rd Des Moines, IA 50310-1305
This exceptional 740,000 square foot, single-story regional shopping center in Des Moines' Merle Hay & Douglas (North Central) submarket presents a unique investment opportunity. Strategically located at the intersection of Merle Hay Rd & Douglas, this multi-tenant property boasts a diverse mix of retail, dining, and entertainment options, attracting a significant customer base. The center features major national anchors including Target, Kohl's, and Ulta, ensuring high foot traffic and brand recognition. Beyond traditional retail, the property offers a vibrant entertainment component, including a Flix Brewhouse theatre and micro-brewery, GameDay sports bar and arcade, Kids Empire active play center, a large bowling alley, and the state's largest pickleball facility. A future sports arena is also planned, further enhancing the property's appeal and long-term potential. Popular restaurants such as Starbucks, Applebee's, IHOP, and Five Guys contribute to the dynamic atmosphere. With a total of five suites, the property offers flexible leasing options, with a minimum divisible space of 1,840 square feet and a maximum contiguous space of 74,000 square feet. Currently, 90,000 square feet of space is available. This prime location and diverse tenant mix make this a compelling investment opportunity in a thriving Des Moines submarket.
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Old Navy Jeans Shop Men'S Clothing Store
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Torrid Clothing & Fashion Store (Bike/Boat/Book/etc) Store
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rue21 Clothing Store Men'S Clothing Store
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Maid-Rite Take-out & Catering Catering Service
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The Dollar Experience Discount Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
C-4 · Des Moines, IADes Moines. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.