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Property profile & analytics

3420 Martin Luther King Jr Pkwy Des Moines, IA 50310-5608

  • Strip malls
  • 17,656 SF
  • 2.98 lot acres
OFF-MARKET
Value Estimation
Last Sale
Oct 10, 2024
$2,800,000
Location Intelligence
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.

Current Use by Public Records

  • Des Moines Roofing Contractors / Roofing Supply Store / Sheet Metal Contractor
  • LC Nails / Nail Salon
  • Ta’Meca Lynnette Watkins General store / General Store
  • CSL Plasma / Blood Donation Center
  • H&R Block / Tax Preparation Service / Accountant

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
Neighborhood 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 Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

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
More about this property
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