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    4094 Merle Hay Rd Des Moines, IA 50310-1310
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    Property profile & analytics

    4094 Merle Hay Rd, Des Moines, IA 50310-1310

    View on Map
    • Super regional malls
    • 134,112 SF
    • 15.01 lot acres
    Off-Market
    Property ID
    US25-1001405
    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.
    Value Estimations
    $11,400,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Burlington / Department Store
    • Baby Depot / (Bike/Boat/Book/etc) Store / Clothing & Fashion Store

    Property Details for 4094 Merle Hay Rd

    Year built
    1988
    Construction
    STEEL FRAME
    Lot size
    15.01 lot acres
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    100/09472-008-004
    APU
    10009472008004

    Description

    This exceptional retail property, located at 4094 Merle Hay Rd in Des Moines, Iowa, offers a diverse range of leasing opportunities. The building boasts a total of 223,876 square feet of commercial space, with multiple tenancies available. Flexible space options cater to various business needs, ranging from a minimum of 1,265 square feet to a maximum contiguous space of 60,790 square feet. Currently, there is 65,211 square feet of vacant space ready for immediate occupancy. This prime location in Polk County, Iowa, offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a strong presence in the Des Moines market. The property's address is 4094 Merle Hay Rd, Des Moines, IA 50310. Its strategic location provides convenient access for customers and employees alike. The building's size and layout provide ample opportunity for customization to suit individual business requirements. This is a rare opportunity to secure high-quality retail space in a thriving Des Moines location. Contact us today to learn more about the available spaces and leasing options. The property is zoned for commercial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $15,628,000
      Market price range: $7.12M - $15.6M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $10,730,000
      Current use
      RETAIL STORES
      $15,575,000
      Change: +45% Conversion: Easy
      COMMERCIAL (GENERAL)
      $13,770,000
      Change: +28% Conversion: Easy
      WAREHOUSE, STORAGE
      $12,325,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.7001
    Latitude
    41.6354
    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
    2023
    $0.00
    $6,940,000
    $6,260,000
    $13,200,000
    -
    $6,940,000
    $6,260,000
    $13,200,000

    Comparable in this City

    • Value Estimation
      $10,370,000
      386,236 SF

      3850 Merle Hay Rd

      REGIONAL SHOPPING CENTER, MALL
      3850 Merle Hay Rd, Des Moines, IA 50310-1330
      View Details
    • Value Estimation
      $3,865,000
      123,794 SF

      3800 Merle Hay Rd

      REGIONAL SHOPPING CENTER, MALL
      3800 Merle Hay Rd, Des Moines, IA 50310-1305
      View Details
    • Value Estimation
      $12,290,000
      171,297 SF

      3850 Merle Hay Rd

      REGIONAL SHOPPING CENTER, MALL
      3850 Merle Hay Rd, Des Moines, IA 50310-1330
      View Details
    • Value Estimation
      $4,105,000
      165,004 SF

      3800 Merle Hay Rd Ste, Unit 1100

      REGIONAL SHOPPING CENTER, MALL
      3800 Merle Hay Rd Ste, Des Moines, IA 50310-1303
      View Details
    • Value Estimation
      $765,000
      8,052 SF

      4212 Douglas Ave

      SHOPPING CENTER, STRIP CENTER
      4212 Douglas Ave, Des Moines, IA 50310-3659
      View Details
    • Value Estimation
      $3,460,000
      46,836 SF

      3839 Merle Hay Rd

      SHOPPING CENTER, STRIP CENTER
      3839 Merle Hay Rd, Des Moines, IA 50310-1307
      View Details

    Similar Nearby for Sale

    • $915,000
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      Retail Center in Beaverdale Neighborhood

      Established retail center in Des Moines' desirable Beaverdale neighborhood.
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      66,400 SF

      Retail Mall Redevelopment Opportunity

      Anchored retail center with indoor, direct access and strong corridor exposure along high-traffic Merle Hay Road.
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      39,164 SF

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    Similar Nearby for Lease

    • $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
    • $24 SF/Yr

      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
      Des, Des Moines, IA 50310
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent at 2833 Douglas Avenue.
      2833 Douglas Ave, Des Moines, IA 50310
      View Details
    • 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

      Retail Space on Hickman Road

      Stand-alone retail location with high visibility and ample parking.
      5625 Hickman Rd, Des Moines, IA 50310
      View Details
    • Contact for pricing
      22,220 SF

      Automotive Property with Outdoor Storage

      Turnkey automotive property with paint booth and outdoor storage.
      4410 Merle Hay Rd, Des Moines, IA 50310
      View Details
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    Des Moines, IA 50310-1310
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    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
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