Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2009-2013 Martin Luther King Jr Pkwy Des Moines, IA 50314

    Sponsored
    For Sale
    $149,950

    LAND - Des Moines, IA

    Lot size:
    2.49 Acres
    Days on Market:
    17
    Last Refresh:
    Feb 7 at 4:06 pm

    Property Features for 2009-2013 Martin Luther King Jr Pkwy

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    N5
    APN
    08007823002000
    Lot size
    2.49 Acres

    We can help!

    Listing Contact
    Daniel Arredondo

    Exit Realty Capital City (515) 991-4204

    Listing agent Daniel Arredondo (515) 253-3948

    Listing date Jan 22, 2026

    MLS# 733246

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Des Moines Land Opportunity

    This 2.49-acre parcel presents a development opportunity in a thriving neighborhood of Des Moines. Currently zoned residential, the property offers potential for high-density residential conversion, making it suitable for row houses, townhouses, or bi-attached homes. The site features rear-alley access, accommodating a live-work setup or commercial storefronts with residential units. Utilities are available at the lot line. Located in a quiet residential area, the property is approximately 5 minutes from the downtown core and is surrounded by established businesses. The site's accessibility and depth provide architectural possibilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.64509
    Latitude
    41.612827

    Nearby Similar for Sale

    • $300,000
      Pending

      Des Moines Fourplex Investment Opportunity

      Spacious fourplex near downtown Des Moines with strong cash flow.
      1418 E 9Th St, Des Moines, IA 50316
      View Details
    • $799,000
      2,691 SF

      Luxury Villas Near Costa Rica Beach

      Boutique villas, walk to beach, income potential.
      Villas Cabuya, Des Moines, IA 50308
      View Details
    • $950,000
      1.86 Acres

      Adaptable Commercial Space, Des Moines/Ankeny

      Renovated commercial space suitable for retail, office, or service businesses.
      1380 NE 66Th Ave, Des Moines, IA 50313
      View Details
    • New
      $289,900
      1,513 SF

      Versatile Multi-Family Residence

      Multi-family residence with income potential, two distinct units.
      1242 Mckinley Ave, Des Moines, IA 50315
      View Details
    • $300,000
      Pending

      Des Moines Fourplex Investment Opportunity

      Well-managed fourplex in Des Moines with cash flow potential.
      1418 E 9Th St, Des Moines, IA 50316
      View Details
    • $250,000
      Pending

      Revitalization Opportunity Near Drake University

      Seven-unit building suitable for conversion or multifamily use.
      3101 Cottage Grove Ave, Des Moines, IA 50311
      View Details
    • $329,900
      0.37 Acres

      Office Building in High-Demand Corridor

      Fully occupied office building with long-term lease and built-in income.
      2400 6Th St, Des Moines, IA 50322
      View Details
    • $195,000
      1,282 SF

      Des Moines Duplex: Investment Opportunity

      Charming Des Moines duplex, ideal for investors or homeowners.
      1442 34Th St, Des Moines, IA 50311
      View Details
    • $350,000
      2,522 SF

      Five-Unit Multifamily Property in Des Moines

      Well-located 5-unit multifamily property with long-term tenants and upside.
      2936 Brattleboro Ave, Des Moines, IA 50311
      View Details
    • $229,990
      1,776 SF

      Ranch-Style Duplex Investment Opportunity

      Turnkey duplex with separate meters and fenced yard.
      3616-3618 SE 11Th St, Des Moines, IA 50315
      View Details
    • New
      $250,000
      2,237 SF

      Des Moines Multifamily Property

      Multifamily property in Des Moines, Iowa, with R1-60 zoning.
      3916 9Th St, Des Moines, IA 50313
      View Details
    • New
      $350,000
      2,392 SF

      Des Moines Multifamily Property

      Multifamily property for sale in Des Moines, Iowa.
      229 College Ave, Des Moines, IA 50314
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.49-acre parcel with potential for high-density residential conversion.
    Where is this residential land & home lot located?
    The property is located at 2009-2013 Martin Luther King Jr Pkwy Des Moines, IA.
    What is the asking price?
    The asking price for this property is $149,950.
    What are key features of this property?
    This property features: - Massive potential for RH (High Density Residential) conversion.; - Ideal for row houses, townhouses, or bi-attached homes.; - 2.49-acre parcel offers a rare blank canvas.
    (515) 253-3948
    Request Owner's contact information
    2009-2013 Martin Luther King Jr Pkwy Des Moines, IA 50314
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2009-2013 Martin Luther King Jr Pkwy
    Des Moines, IA 50314
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2009-2013 Martin Luther King Jr Pkwy Des Moines, IA 50314
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Daniel Arredondo
    (515) 253-3948
    Learn more
    Google sign-in failed. Please try again or use another login method.