4343 Merle Hay Rd, Des Moines, IA 50310
- Grocery and convenience stores
- 66,653 SF
- 8.46 lot acres
Current Use by Public Records
- Price Chopper Pharmacy / Pharmacy
- Tammy R. Bickel, RPh / Pharmacy
- Teresina Leo / Pharmacy
- Kristin Sauvago / Pharmacy
Property Details for 4343 Merle Hay Rd
- Year built
- 1991
- Construction
- STEEL FRAME
- Lot size
- 8.46 lot acres
- Zone code
- C-2
- Property type
- Grocery and convenience stores
- APN
- 100/13383-001-001
- APU
- 10013383001001
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jul 18, 2007 | — | Galileo Haymarket Karam LLC | Galileo Apollo Vi Sub LLC | Quit Claim Deed · related | — |
| Aug 24, 2005 | $16,700,000 | Galileo Apollo Vi Sub LLC | New Plan Excel Realty Trust INC | Quit Claim Deed · related | — |
Description
This exceptional 56,700 square foot retail property is located at 4343 Merle Hay Road in Des Moines, Iowa, within Polk County. The property is a single-tenant building, offering a significant opportunity for a business seeking a prominent location. Situated along Merle Hay Road, a high-traffic area boasting 36,000 vehicles per day, this retail space benefits from exceptional visibility and accessibility. The building's size allows for a variety of retail uses, making it suitable for a wide range of businesses. This property is part of the Haymarket Square redevelopment project, promising future growth and increased foot traffic in the area. The property's location in Des Moines, Iowa, provides access to a substantial consumer base and a thriving local economy. The zip code is 50310. The property is classified as a shopping center. This is a rare opportunity to secure a high-profile retail space in a rapidly developing area of Des Moines. The property's size and location make it an ideal investment for businesses seeking significant exposure and growth potential.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $10,790,000
- 6.5%
- $9,960,000
- 7%
- $9,250,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $8,676,000
- AI Estimate
- $6,342,000
Market price range: $3.81M - $12.4MMarket price range: $2.17M - $9.09M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $7,740,000 Current use
- AUTO REPAIR, GARAGE
- $11,475,000 Change: +48% Conversion: Difficult
- MEDICAL BUILDING
- $11,090,000 Change: +43% Conversion: Difficult
- RESTAURANT
- $10,290,000 Change: +33% Conversion: Easy
- APARTMENT HOUSE (5+ UNITS)
- $9,815,000 Change: +27% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $6,845,000 Change: -12% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6958
- Latitude
- 41.6375
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
