3401 Martin Luther King Jr Pkwy Des Moines, IA 50310-5600
Property profile & analytics
3401 Martin Luther King Jr Pkwy, Des Moines, IA 50310-5600
- Warehouses
- 59,760 SF
- 2.79 lot acres
Property ID
US25-0346040
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.
Location Intelligence
Current Use by Public Records
- CubeSmart Self Storage / Storage Facility
Property Details for 3401 Martin Luther King Jr Pkwy
- Year built
- 1950
- Construction
- STEEL FRAME
- Lot size
- 2.79 lot acres
- Zone code
- M-1
- Property type
- Warehouses
- Property subtype
- Self storage facilities
- APN
- 080/01821-001-008
- APU
- 8001821001008
Description
This exceptional investment opportunity presents a portfolio of three high-quality self-storage facilities totaling 178,461 rentable square feet and 1,395 units. Strategically located in the Des Moines, Iowa MSA, these properties boast prime visibility near major retailers like Hy-Vee and McDonald's, creating high barriers to entry for competitors. The portfolio includes two Des Moines locations (3401 Martin Luther King Jr Pkwy and 3400 E 33rd St) and one in Urbandale (3900 121st St), all situated in established retail corridors. The Des Moines locations, excluding the Martin Luther King Jr Pkwy property, are thoughtfully converted big-box retail spaces, while the Urbandale location is a newly constructed facility. All properties feature institutional-quality construction completed within the last five years, showcasing large loading docks/drive-in bays, secure coded gate access, and well-designed rental offices. A significant advantage is the predominantly first-floor climate-controlled units, commanding significantly higher rental rates than multi-level competitors. The 33rd Street Des Moines location also includes 9,673 square feet of leased commercial space. Despite a recent third-party management transition, the portfolio demonstrates a strong lease-up trajectory and solid occupancy. Furthermore, an approved expansion opportunity exists at the East 33rd Street Des Moines location. The seller's long-term vision is evident in the superior construction and thoughtful design, ensuring a stable and profitable investment for the future.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,660,000
Market price range: $3.32M - $8.04M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $5,495,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $4,780,000 Change: -13% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6503
- Latitude
- 41.6261
- 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
2023
$62,512
$385,000
$2,575,000
$2,960,000
-
$385,000
$2,575,000
$2,960,000
