Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4020 Merle Hay Rd Des Moines, IA 50310-1310

    • Medical offices
    • 12,987 SF
    • 1.40 lot acres
    OFF-MARKET
    Last Sale
    Mar 28, 2022
    $6,332,000
    Value Estimations
    $6,010,000
    Show details
    Cap Rate Potential
    2.6%
    Medical offices
    Location Intelligence
    Property ID
    US25-0110357
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Marc Molis / Sports Medicine Physician / Family Practice Physician
    • UnityPoint Clinic Urgent Care - Merle Hay / Medical Group
    • Stacia Dierks, PTA / Physical Therapist
    • Aaron Bewyer, DPT,MPT / Physical Therapist
    • John Urban, MPT / Physical Therapist

    Property Details for 4020 Merle Hay Rd

    Year built
    2009
    Construction
    STEEL FRAME
    Lot size
    1.40 lot acres
    Property size
    12,987 SF
    Zone code
    C-2
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    100/09472-007-002
    APU
    10009472007002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,720,000
      ML approach
      $5,650,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6987
    Latitude
    41.6344
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $116,146
    $1,160,000
    $2,230,000
    $3,390,000
    -
    $1,160,000
    $2,230,000
    $3,390,000

    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
      $2,220,000
      18,185 SF

      Des Moines, IA 50310

      MEDICAL BUILDING • 18,185 SF
      Des Moines, IA 50310
      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 by Request
      8,460 SF

      4919 Douglas Ave

      MEDICAL BUILDING • 8,460 SF
      4919 Douglas Ave, Des Moines, IA 50310-2775
      View Details

    Similar Nearby for Sale

    • $1,600,000
      67,325 SF

      Merle Hay Tower: Redevelopment Opportunity

      Des Moines, IA: Adaptive Reuse Project
      3850 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $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
      7,260 SF

      Former Dentist Office with Space

      First and second floor office spaces available for lease.
      4919 Douglas Ave, Des Moines, IA 50310
      View Details
    • $299,000
      3,000 SF

      Mixed-Use Building with Income Potential

      Well-maintained mixed-use building with apartments and office units.
      3810 38Th St, Des Moines, IA 50310
      View Details
    • $1,600,000
      67,325 SF

      Merle Hay Mall Redevelopment Opportunity

      Six-story high rise and former theater for redevelopment.
      3850 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $550,000
      8,446 SF

      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

    Similar Nearby for Lease

    • $12 SF/Yr
      7,260 SF

      Des Moines Office Space for Lease

      Executive/Medical Office, 7,260 SF Total
      4919 Douglas Ave, Des Moines, IA 50310
      View Details
    • $9 SF/Yr
      25,187 SF

      Franklin Plaza Shops: Office Suites

      Prime Polk County office space available.
      4944 Franklin Ave, Des Moines, IA 50310
      View Details
    • Contact for pricing
      223,876 SF

      Des Moines Retail Space Available

      Prime Retail Space, Multiple Units Available
      4094 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      56,700 SF

      Des Moines Retail Space - Merle Hay Rd

      High-profile retail space, Des Moines, IA.
      4343 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      269,705 SF

      Haymarket Square: Retail Opportunity

      Prime Shopping Center, 5 Spaces Available
      4365 Merle Hay Rd, Des Moines, IA 50310
      View Details
    • $24 SF/Yr
      4,092 SF

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      4212 Merle Hay 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.
    4020 Merle Hay Rd
    Des Moines, IA 50310-1310
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.