Add Listing
    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

    300 Martin Luther King Jr Pkwy Des Moines, IA 50309

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Des Moines location, 2,310 sq ft, rooftop bar.

    Property size:
    2,310 SF

    Property Features for 300 Martin Luther King Jr Pkwy

    General Information

    Property type
    Retail properties
    Square Feet
    2,310 SF

    We can help!

    Listing Contact
    Mick Grossman

    Listing Agency: KW Commercial Greater Des Moines Listing Agent: Mick Grossman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional Des Moines retail property, located at 300 Martin Luther King Jr Pkwy, offers a unique opportunity for a thriving business. The 2,310 square foot interior space is perfectly complemented by a stunning 3,000 square foot rooftop area, ideal for creating a memorable outdoor experience. The property is fully equipped for a hospitality business, boasting a walk-in cooler, a glycol system for efficient beverage service, and two ice machines. This turnkey solution minimizes upfront investment and allows for immediate operation. The asking price is $550,000. The property is offered as a NNN lease. The building features a total of 5,310 square feet of space, with 2,310 square feet indoors and 3,000 square feet of rooftop space. This high-traffic location in Polk County, Iowa, zip code 50309, presents an unparalleled chance to establish a successful and unforgettable venue. The property's features are designed to maximize efficiency and profitability, making it an attractive investment for discerning entrepreneurs. Don't miss this chance to own a piece of Des Moines' vibrant hospitality scene.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fuzzy's Taco Shop Restaurant Blaze Pizza Restaurant Anytime Fitness Downtown ... Gym & Fitness Center 300mlk Restaurant MLK River Park Shopping Center & Mall

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6196595
    Latitude
    41.5816775

    Nearby Similar for Sale

    • $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
    • $425,000
      1.74 Acres

      Des Moines Office/Warehouse Opportunity

      Over 5000 sq ft building suitable for office or warehouse.
      2679 Maury St, Des Moines, IA 50317
      View Details
    • New
      $300,000
      3,306 SF

      Highland Park 7-Unit Multifamily Property

      Turnkey investment property with strong rental history in Des Moines.
      3419 1St St, Des Moines, IA 50313
      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
    • $325,000
      1,768 SF

      Turnkey Duplex with Income Potential

      Des Moines duplex: immediate income, spacious units, finished basements.
      1008 Kingman Cir, Des Moines, IA 50311
      View Details
    • $310,000
      2,509 SF

      Des Moines Fourplex Investment Opportunity

      Fourplex near Drake College, ideal for investors or owner-occupants.
      1148 36Th St, Des Moines, IA 50311
      View Details
    • $475,000
      5,692 SF

      Sherman Hill Multifamily Investment

      Six-unit property in Des Moines' desirable Sherman Hill neighborhood.
      686 19Th St, Des Moines, IA 50314
      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
    • $339,900
      2,492 SF

      Des Moines Fourplex Near Drake

      Fourplex near Drake University with updated units.
      1240 32Nd St, Des Moines, IA 50311
      View Details
    • $325,000
      0.16 Acres

      Automotive Shop in Des Moines

      Fully functioning automotive shop in a high-traffic location.
      1501 6Th Ave, Des Moines, IA 50314
      View Details
    • New
      $288,000
      Pending

      Des Moines Brick Duplex

      All-brick duplex with investment potential in Des Moines, Iowa.
      1305 NE 51St Ave, Des Moines, IA 50313
      View Details
    • $225,000
      918 SF

      Desirable Duplex with Rental Certificate

      Duplex with new roof and rental certificate through 2028.
      1114 Carrie Ave, Des Moines, IA 50315
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime Des Moines location, 2,310 sq ft, rooftop bar.
    Where is this retail property located?
    The property is located at 300 Martin Luther King Jr Pkwy Des Moines, IA.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: 2,310 SF Indoor Bar Area with 24.85 SF of additional space.; 3,000 SF Rooftop Deck with 10.80 SF of additional space.; Security Camera System (12.43 SF of equipment space).
    (515) 334-4900 Call to check price and availability
    Request Owner's contact information
    300 Martin Luther King Jr Pkwy Des Moines, IA 50309
    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.
    300 Martin Luther King Jr Pkwy
    Des Moines, IA 50309
    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
    300 Martin Luther King Jr Pkwy Des Moines, IA 50309
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mick Grossman
    Real Estate License ID: S43534000
    (515) 334-4900
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!