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Financial
Distress signals
Property profile

3850 Merle Hay Rd Des Moines, IA 50310

FOR SALE
Super regional malls
Property ID
US25-0235543
171,297 SF 9.53 ac lot Built 2014
Last sale Sep 2016 · $6,999,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 10-yr Hold Held for 10 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

Merle Hay Mall is a redevelopment-oriented retail campus on the border of Urbandale and Des Moines, Iowa, positioned along Merle Hay Road and sited in a densely populated residential area. The property includes a six-story high-rise tower and an adjacent former theater, supported by existing mall-style retail infrastructure with indoor access and an HVAC system reported to be in good condition. Site features include a controlled, full-movement, lighted intersection with multiple lot entrances,…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2020

What does the county charge?
$373k
Tax billed · 2020
Assessed value · 2023$10.53M
Assessed land$5.27M
Assessed improvement$5.26M
Effective rate3.55%

Value estimate

· Oct 2026
$12.29M
$11.06M – $13.52M
Submarket $/SF estimate$12.84M
NOI build-up
Gross scheduled income$1.06M
Vacancy & credit loss−$38k
Operating expenses−$459k
NOI · 35.07% cap applied$561k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$80/SF
Submarket average, outlier-cleaned · 32 recorded sales of this use type
Observed band · Q1–Q3$53 – $117

Cap rate analysis

How does the asset earn?
35.07%
$561k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C-4
JurisdictionPOLK

Location intelligence

Which uses thrive at this corner?
Best fit: Realty agency
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Realty agency44.3
Law Firm33.7
Building Supply31.1

Location

3850 Merle Hay Rd Des Moines, IA 50310
County assessor Recorded deeds · 8 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

18 properties nearby
Recent sales nearby
No comparable recorded sale in this ZIP
No comparable recorded sale in this ZIP. Our records hold no sale here we could set beside this property for the last 8 years. They are neighbours, not transactions.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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