Yes, it does, but the correct spelling is "is there any way I can help you?"
Of course, however, like all sentences, whether it is completely natural also depends on the context. If you're a salesperson, for example, and you see a customer appearing to look for something, it might be more natural just to say "may I help you?" On the other hand, in the context of talking to a friend who experiencing some personal problems, and after discussing several dead-end proposals to help that friend, you may finally say, "is there any way I can help you?"