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Property profile & analytics
OFF-MARKET
Estimated value
$1,065,000
Theaters & concert halls
401 Martin Luther King Jr Pkwy Des Moines, IA 50309-4776
Individually Owned
21-yr Hold
~
Est. High Equity
Property ID
US25-0213978
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
2004
Construction
STEEL FRAME
Total area
117,000 SF
Lot
4.02 ac (174,981 SF)
Zoning code
PUD
APN
020/01226-002-002
UPID
US25-0213978
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
-
ATM Atm
-
Science Center of Iowa Science Museum Event Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.07M
Owner & transaction history
Science Center Of Iowa
Science Center Of Iowa
1 recorded transaction
Zoning & alternative use
PUD · Des Moines, IA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The PUD Legacy District is a zoning classification that is no longer accepting new or expanded applications. Only existing PUDs established before a specified effective date continue under this legacy status. These grandfathered districts are governed primarily by their original approval ordinances, conceptual plans, and conditions of approval. Amendments to…
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,668.41 ac
Source
Realmo
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
$1,065,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.07M
Range $959k – $1.17M · ±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
$9 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$25,200,000
Assessed 2023
Previous assessed
$25,200,000
+0.0% YoY
Assessed land
$3,850,000
Assessed improvement
$21,350,000
Land market value
$3,850,000
Improvement market value
$21,350,000
Total market value
$25,200,000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
2004
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
REFRIGERATOR
Buildings
1
Stories
2
Total area
117,000 SF
Lot
4.02 ac (174,981 SF)
Zoning code
PUD
APN
020/01226-002-002
UPID
US25-0213978
Jurisdiction
POLK
Zoning & alternative use
PUD · Des Moines, IAZoning PUD · permitted uses
PUD · Des Moines, IA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The PUD Legacy District is a zoning classification that is no longer accepting new or expanded applications. Only existing PUDs established before a specified effective date continue under this legacy status. These grandfathered districts are governed primarily by their original approval ordinances, conceptual plans, and conditions of approval. Amendments to the development plans for these legacy PUDs are permitted, with a process that varies depending on whether the proposed change is determined to be minor or major in scope.
Zone name
Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
3,668.41 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2004
Construction
STEEL FRAME
Heating
HOT WATER
Cooling
Yes
Stories
2
Buildings
1
Lot
4.02 ac
Current owner
From public records · entity-resolved
Science Center Of Iowa
Individual
Mailing address
401 MARTIN LUTHER KING JR PKWY, DES MOINES, IA 50309-4776
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
—
—
Science Center Of Iowa
—
Deed Of Trust
related
$17,000,000 · Bank Of America
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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