3850 Merle Hay Rd, Des Moines, IA 50310-1330
- Super regional malls
- 386,236 SF
- 9.62 lot acres
Current Use by Public Records
- Drake Headstart / High School / Daycare Center
- Catron Jerald L PhD / Physician / Medical Clinic
- Cathi's Salon / Hair Salon
- Komen’s National Breast Care / Association Or Organization
- Omega 3 Family Farms / Food Processing Plant
Property Details for 3850 Merle Hay Rd
- Year built
- 1979
- Construction
- STEEL FRAME
- Lot size
- 9.62 lot acres
- Zone code
- C-4
- Property type
- Super regional malls
- Property subtype
- Shopping centers
- APN
- 100/09472-001-012
- APU
- 10009472001012
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Sep 19, 2016 | $6,999,000 | Merle Hay Investors LLC | Merle Hay Mall LP | Quit Claim Deed · related | — |
| Aug 12, 2016 | $6,999,000 | Merle Hay Investors LLC | Merle Hay Mall LP | Quit Claim Deed · related | — |
| Aug 27, 2014 | — | Merle Hay Mall LP | — | Loan Modification · related | $50M · Associated Bk |
| Jul 2, 2013 | — | Merle Hay Mall LP | — | Deed Of Trust · related | $48M · Associated Bk/green Bay |
| Aug 16, 2010 | — | Merle Hay Mall LP | — | Deed Of Trust · related | $35M · Wells Fargo Bank |
| — | — | Merle Hay Mall LP | — | Loan Modification · related | $50M · Associated Bk |
| — | — | Merle Hay Investors LLC | — | Loan Modification · related | $39.5M · Associated Bk |
Description
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).
Value Estimations
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $7,280,000
Market price range: $6.30M - $13.6M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.7
- Latitude
- 41.6316
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
