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Property profile & analytics
OFF-MARKET
Estimated value
$5,890,000
Retail space
300 Martin Luther King Jr Pkwy Des Moines, IA 50309-4604
Entity Owned
Free & Clear
Property ID
US25-2395029
Property summary
AI-generated overview
This exceptional Des Moines commercial property, located at 300 W Martin Luther King Jr Pkwy, offers a unique 2,310-square-foot retail space, perfect for a variety of businesses. Currently vacant, this single-tenant property is situated in Polk County, Iowa, and boasts a highly desirable location within the city. A key feature is the expansive 3,000-square-foot rooftop area, ideal for outdoor dining, entertainment, or other creative uses. The interior includes a fully equipped 2,310 square foot space designed for optimal beverage service, featuring a walk-in cooler and a glycol system. Two ice machines are also included, providing added convenience and efficiency. The property is priced at $550,000. This turnkey opportunity presents a rare chance to establish a thriving business in a vibrant Des Moines location, with the potential to capitalize on the unique rooftop space. The property's address is 300 W Martin Luther King Jr Pkwy, Des Moines, IA 50309. The zip code is 50309.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2015
Construction
FRAME
Total area
62,455 SF
Lot
3.43 ac (149,411 SF)
APN
020/01506-002-000
UPID
US25-2395029
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Fuzzy's Taco Shop Restaurant
-
Blaze Pizza Restaurant
-
Anytime Fitness Downtown Des Moines Gym & Fitness Center
-
300mlk Restaurant
-
MLK River Park Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.46M
Blend (final)
Blend
$5.89M
Owner & transaction history
GREEN LIMITED
GREEN LIMITED
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.6M
+32.9%
Apartment house (5+ units)
$9.2M
+26.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Des Moines submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Des Moines submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,255,000
Current use
RESTAURANT
$9,640,000
Change: +33% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$9,195,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$5.89M
Range $5.30M – $6.48M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$94 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$217,900
Tax year 2020
Assessed value
$6,260,000
Assessed 2023
Previous assessed
$6,260,000
+0.0% YoY
Effective rate
3.48%
On assessed value
Assessed land
$2,240,000
Assessed improvement
$4,020,000
Land market value
$2,240,000
Improvement market value
$4,020,000
Total market value
$6,260,000
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2015
Construction
FRAME
Heating
NONE
Buildings
1
Stories
6
Total area
62,455 SF
Lot
3.43 ac (149,411 SF)
APN
020/01506-002-000
UPID
US25-2395029
Jurisdiction
POLK
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$7.3M
RESTAURANT
Est. value
$9.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.2M
RETAIL STORES Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2015
Construction
FRAME
Heating
NONE
Stories
6
Buildings
1
Lot
3.43 ac
Current owner
From public records · entity-resolved
GREEN LIMITED
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 1797, DES MOINES, IA 50305-1797
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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