3100-3116 Merle Hay Rd
Des Moines, IA 50310
Boston Commons · Retail Property For Sale
Property Facts
About 3100-3116 MERLE HAY RD , DES MOINES, IA 50310
Pegasus Investments is pleased to offer for sale the opportunity to purchase the fee-simple interest (land & building) in Boston Commons – a 3-tenant net leased neighborhood retail strip center located in Des Moines, Iowa. The property is 100% occupied by Dollar General, EZ Money and Premier Employment Solutions. The site benefits from corporate-backed leases of which 80% of the GLA is leased to a publicly traded, investment grade rated tenant, Dollar General (NSYSE: DG), at significantly below market rent (roughly half what the other tenants are paying on a price per square foot basis). The subject property is strategically located along Merle Hay Road, one of the busiest thoroughfares in Des Moines with excellent visibility and multiple points of access. Further, the property is located a mere half mile south of the Merle Hay Mall, the longest operating regional mall in Iowa (since 1959) boasting approximately 1M SF of retail tenancy.
Property Taxes
| Parcel Number | 100-02974003000 | Improvements Assessment | $1,140,000 |
| Land Assessment | $470,000 | Total Assessment | $1,610,000 |
Property Taxes
