Listed by SVN | CREATE Commercial Real Estate Advisors
$1,600,000
Merle Hay Tower
Details
Property Type Multifamily, Hospitality
Sub Type Student Housing, Apartment Building
Square Footage 67,325
Units 50
Price per SqFt $24
Broker Co-Op Yes
Class C
Year Built 1966
Buildings 2
Stories 6
Zoning C-4
Investment Type Redevelopment
Adaptive Reuse Project Ideal for Multi-Family or Seniors Housing
Marketing description
This Former Office Building Contains Six (6) 9,000 square foot floors, 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 Elevators and Various Numbers of Offices on Each Floor.
With its Direct Connection to the Mall, Providing an Impressive Walkability Score of 74, We Believe This is Best Suited for a Seniors Housing or Multi-family Project. Tenants Will Be Steps Away From to Grocery, Lifestyle, Apparel, Entertainment, and the Bus Line. The Former Theater Can Be Utilized for Event Space, Medical Facility, Dining Hall, or Additional Units.
Investment highlights
- Direct, Indoor Access to Super-regional Mall
- Located Ideally on High-traffic Merle Hay Road
- Controlled, Full Movement Lighted Intersection With Approximately 50,000 Vpd
- The Merle Hay Trade Area Has the Greatest Number of High Income Households in the Market
- Multiple Lot Entrances With Ample Surface and Covered Parking
- High Walkability Score
- Located Along 3 Des Moines Area Transit Authority Bus Stops
- Hvac System in Good Condition
- Former Cinema Attached to High-rise Allows for Great Event and Alternate Use Space
- Flat Roof on Attached Former-cinema Gives Opportunity for Patio
Listing Contacts
Listed by SVN | CREATE Commercial Real Estate Advisors
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Zoning
CX MixedMixed UseMixed Use
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View all 117 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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