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    Property profile & analytics

    2424 Martin Luther King Jr Pkwy Des Moines, IA 50310-6179

    • Investment properties
    • 16,800 SF
    • 1.02 lot acres
    OFF-MARKET
    Value Estimation
    $365,000
    Location Intelligence
    Property ID
    US25-0301054
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Sundus Fashion and Decor / Countertop Store / Furniture Store

    Property Details for 2424 Martin Luther King Jr Pkwy

    Year built
    1990
    Construction
    STEEL FRAME
    Lot size
    1.02 lot acres
    Property size
    16,800 SF
    Zone code
    C-2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    080/07627-003-000
    APU
    8007627003000

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $410,000

    • CAP approach

      CAP return
      Estimation
      6%
      $290,000
      6.5%
      $285,000
      7%
      $315,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $295,000
      Geo Method
      $250,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $300,000
      Retail
      $340,000
      Mixed-Use
      $280,000
      Hospitality
      $340,000
      Educational
      $305,000
      Residential Income
      $290,000
      Energy
      $315,000
      Income-Based Land
      $270,000
      Food Service
      $285,000

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.6474
    Latitude
    41.6165
    CBSA code
    19780
    CBSA name
    DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $7,162
    $142,740
    $33,260
    $176,000
    -
    $142,740
    $33,260
    $176,000

    Comparable in this City

    • Value Estimation
      $260,000
      1,239 SF

      3801 Douglas Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,239 SF
      3801 Douglas Ave, Des Moines, IA 50310-3652
      View Details
    • Value Estimation
      $245,000
      1,103 SF

      5714 Madison Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,103 SF
      5714 Madison Ave, Des Moines, IA 50310-1319
      View Details
    • Value Estimation
      $635,000
      17,501 SF

      5475 Meredith Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 17,501 SF
      5475 Meredith Dr, Des Moines, IA 50310-1453
      View Details
    • Value Estimation
      $245,000
      3,170 SF

      2929 Merle Hay Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,170 SF
      2929 Merle Hay Rd, Des Moines, IA 50310-1103
      View Details
    • Value Estimation
      $340,000
      6,400 SF

      5601 Hickman Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 6,400 SF
      5601 Hickman Rd, Des Moines, IA 50310-1163
      View Details
    • Value Estimation
      $235,000
      1,868 SF

      1903 46th St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,868 SF
      1903 46th St, Des Moines, IA 50310-3028
      View Details

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    Similar Nearby for Lease

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      Des Moines Retail Space Available

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      Prime Polk County office space available.
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      Des Moines Office Space for Lease

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      Freestanding Retail Space on Corner

      Retail property with high visibility and existing restaurant infrastructure.
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    • Contact for pricing
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      Des Moines Retail Space - Merle Hay Rd

      High-profile retail space, Des Moines, IA.
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      View Details
    • $10 SF/Yr
      22,220 SF

      Automotive Property with Outdoor Storage

      Turnkey automotive property with paint booth and outdoor storage.
      4410 Merle Hay Rd, Des Moines, IA 50310
      View Details
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    Des Moines, IA 50310-6179
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    Realmo Value Estimation

    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.

    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.

    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
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