3420 Martin Luther King Jr Pkwy Des Moines, IA 50310-5608
Property profile & analytics
3420 Martin Luther King Jr Pkwy Des Moines, IA 50310-5608
- Strip malls
- 17,656 SF
- 2.98 lot acres
Property ID
US25-0440623
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
- Des Moines Roofing Contractors / Big Box & Wholesale Store / Building Supply
- LC Nails / Nail Salon
- Ta’Meca Lynnette Watkins General store / Department Store / Grocery & Convenience Store
- CSL Plasma / Medical Clinic
- H&R Block / Tax Preparation
Property Details for 3420 Martin Luther King Jr Pkwy
- Year built
- 1986
- Construction
- STEEL FRAME
- Lot size
- 2.98 lot acres
- Property size
- 17,656 SF
- Zone code
- C-4
- Property type
- Strip malls
- Property subtype
- Shopping centers
- APN
- 080/01819-010-001
- APU
- 8001819010001
Description
This exceptional investment opportunity presents the Harding Hills Shopping Center, a 25,596 square foot retail shopping center located at 3420 Martin Luther King Jr Pkwy in Des Moines, Iowa. Currently boasting 100% occupancy, this multi-tenant property offers a strong and stable income stream, generating a Net Operating Income (NOI) of $330,315 and a compelling 11.01% capitalization rate. The asking price is $3,000,000. Built in 1986 and situated on a 2.98-acre lot, the center is zoned MX3. The property benefits from a shadow anchor tenancy with Hy-Vee, a highly reputable and creditworthy tenant. Other major tenants include CSL Plasma and Aaron's, contributing significantly to the consistent revenue generation. The property has undergone major capital improvements recently, further enhancing its value and appeal. This presents a built-in rent growth potential and significant upside for future returns. The strong tenant mix, high occupancy rate, and substantial NOI make this a prime investment opportunity, particularly attractive for 1031 exchange investors seeking a stable and profitable retail asset in a desirable Des Moines location. The property's location in Polk County, Iowa, zip code 50310, offers excellent visibility and accessibility.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6518
- Latitude
- 41.6269
- 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
$32,184
$550,000
$490,000
$1,040,000
-
$550,000
$490,000
$1,040,000
