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Merle Hay Tower 3850 Merle Hay Rd

66,000 SF Vacant Office Building Des Moines, IA 50310 $1,600,000 ($24/SF)

Investment Highlights

  • High Visibility on Two Major Roads
  • Direct Access to Amenities, including Medical, Grocery, Restaurants and Apparel
  • High-Density, High-Income Area
  • Direct Access to Bus Line

Executive Summary

Vintage 1966 office tower plus adjacent 12,800 sf vintage theatre, attached to super regional shopping center with Target, Kohl's + Sephora, Old Navy, Ross, FLIX Brewhouse, 5 Below, 5 Guys Burgers & Fries, Serenity Esthetics, and other national and regional tenants. 6 story high rise, non sprinkled, 2 elevator banks, concrete and steel, boiler with hot water heat. Deeded parking is available including directly adjacent parking ramp.

Data Room Click Here to Access

Property Facts

Sale Type
Investment or Owner User
Sale Conditions
High Vacancy Property
Property Type
Office
Property Subtype
Office/Residential
Building Size
66,000 SF
Building Class
C
Year Built
1979
Price
$1,600,000
Price Per SF
$24
Percent Leased
Vacant
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
11,000 SF
Building FAR
0.16
Lot Size
9.62 AC
Zoning
C-4 - CX Mixed Use District: CX is intended for nodes and corridors with larger-scale single-use commercial accommodating higher levels of vehicular traffic
Parking
275 Spaces (4.17 Spaces per 1,000 SF Leased)

Amenities

  • Bus Line
  • Controlled Access
  • Signage
  • Drop Ceiling
  • Wi-Fi

About 3850 Merle Hay Rd , Des Moines, IA 50310

PROPERTY OVERVIEW This former office building contains six stories with 8,811 sf floor plates, as well as an attached former theater of about 12,400 sf in size with additional mezzanine space. The Merle Hay Tower has two passenger elevator bays and with all MEP located at the core of the building, this allows for 360 degree window lines on upper levels. Proposed conversion uses include multi-family, 55+ affordable housing, hotel, school, non-profit office, and theatre & arts. LOCATION OVERVIEW Merle Hay Mall is located conveniently at the border of Urbandale and Des Moines in a densely-populated residential area with approximately 90,000 people within a 3-mile radius and the greatest number of high income households in the market. This retail corridor is in a prime location along Merle Hay Road, which is Des Moines' third most traveled road. The Merle Hay Tower boasts impressive amenities including its location along three bus lines, direct indoor access to the super-regional mall, a two-story parking deck directly outside the entrance, and a former theater space ideal for re-purposing as common area space also connected directly to the building. Merle Hay Mall is conveniently located between downtown Des Moines and office developments west of downtown Des Moines.

Walk Score ®
Very Walkable (72)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
100-09472001012
Land Assessment
$5,320,000
Improvements Assessment
$13,366,000
Total Assessment
$18,686,000
  • Listing ID: 20605842

  • Date on Market: 9/20/2019

  • Last Updated:

  • Address: 3850 Merle Hay Rd, Des Moines, IA 50310

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