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    Renovated All-Brick Hotel
    Updated: Apr 10
    Renovated All-Brick Hotel

    9797 N Michigan Rd, Carmel, IN 46032

    Contact for pricing
    Hotel built in 1998 with an all‑brick exterior
    Interior and exterior renovation completed in 2013
    Near I‑65, I‑69, and I‑70
    Approximately 20 minutes from Indianapolis International Airport (IND)
    Holiday Inn Express license term expires in May 2023
    View details
    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 48 Potential Opportunities for your consideration. Besides 1 Active listings in Carmel, IN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 42 Off-Market properties to explore as potential leads, plus 1 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    10-Unit Lakefront Hospitality Cottage Portfolio
    10-Unit Lakefront Hospitality Cottage Portfolio

    4958 E INDIANA BEACH RD, Monticello, IN 47960

    Contact for pricing
    4,000 sqft

    Detached guest cottages offer renovated interiors, private outdoor space, and convenient access to Indiana Beach and Lake Shafer docks.

    View details
    Marriott-Branded Extended-Stay Hotel
    Marriott-Branded Extended-Stay Hotel

    9765 Crosspoint Boulevard, Indianapolis, IN 46256

    Contact for pricing
    55,526 sqft

    Extended-stay hotel with renovations underway and a scheduled Property Improvement Plan completion in 2026.

    View details
    Lakefront Cottage Resort
    Lakefront Cottage Resort

    5312 Northwest Shafer Drive, Monticello, IN 47960

    Contact for pricing

    Seasonal lodging operation with furnished accommodations, recreational amenities, and a separate manager’s residence.

    View details
    Redeveloped Aloft Hotel Project
    Redeveloped Aloft Hotel Project

    136 E Market St, Indianapolis, IN 46204

    Contact for pricing

    Nearly complete Aloft by Marriott redevelopment of a historic office building in downtown Indianapolis, with Opportunity Zone benefits.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Commercial Land Development Site
    Commercial Land Development Site

    9377 S STATE ROAD 39, Mooresville, IN 46158

    $3,400,000
    9.34 AC lot

    Commercial land parcel with public sewer service in Mooresville, Indiana.

    View details

    Off-Market Properties in Carmel, IN

    Consider similar Off-Market properties in Carmel, IN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    11355 Meridian St
    HOTEL/MOTEL

    11355 Meridian St, Carmel, IN 46032-4564

    Value Estimation by Request
    100,567 sqft 3.98 AC lot
    View details
    11895 Meridian St
    HOTEL/MOTEL

    11895 Meridian St, Carmel, IN 46032-4630

    $11,070,000
    Estimated value
    87,181 sqft 3.06 AC lot
    View details
    15131 Thatcher Ln
    HOTEL/MOTEL

    15131 Thatcher Ln, Carmel, IN 46033-8411

    $1,240,000
    Estimated value
    48,160 sqft 1.90 AC lot
    View details
    4255 Smoky Row
    HOTEL/MOTEL

    4255 Smoky Row, Carmel, IN 46033-9337

    $840,000
    Estimated value
    1,980 sqft 1.30 AC lot
    View details
    15 Executive Dr, Unit 105
    HOTEL/MOTEL

    15 Executive Dr, Carmel, IN 46032-0053

    Unit 105
    $275,000
    Estimated value
    2,658 sqft
    View details
    11855 Meridian St
    HOTEL/MOTEL

    11855 Meridian St, Carmel, IN 46032-4630

    $12,070,000
    Estimated value
    72,040 sqft 2.58 AC lot
    View details
    9797 Michigan Rd
    HOTEL/MOTEL

    9797 Michigan Rd, Carmel, IN 46032-8884

    $8,610,000
    Estimated value
    40,697 sqft 1.95 AC lot
    View details
    1 Carmichael Sq
    HOTEL/MOTEL

    1 Carmichael Sq, Carmel, IN 46032-3360

    $9,795,000
    Estimated value
    113,928 sqft 0.49 AC lot
    View details
    1010 Rangeline Rd
    HOTEL/MOTEL

    1010 Rangeline Rd, Carmel, IN 46032

    $635,000
    Estimated value
    3,536 sqft 31.70 AC lot
    View details
    12845 Old Meridian St
    HOTEL/MOTEL

    12845 Old Meridian St, Carmel, IN 46032-8704

    $4,800,000
    Estimated value
    58,255 sqft 1.95 AC lot
    View details
    Jacksons Grant Blvd
    HOTEL/MOTEL

    Jacksons Grant Blvd, Carmel, IN 46032

    $400,000
    Estimated value
    2,184 sqft 12.31 AC lot
    View details
    Jacksons Grant Blvd
    HOTEL/MOTEL

    Jacksons Grant Blvd, Carmel, IN 46032

    $410,000
    Estimated value
    3,094 sqft 9.47 AC lot
    View details
    11925 Meridian St
    HOTEL/MOTEL

    11925 Meridian St, Carmel, IN 46032-4545

    $14,895,000
    Estimated value
    189,622 sqft 7.43 AC lot
    View details
    12045 Illinois St
    HOTEL/MOTEL

    12045 Illinois St, Carmel, IN 46032-3004

    $4,205,000
    Estimated value
    56,170 sqft 1.89 AC lot
    View details
    1335 Main St
    HOTEL/MOTEL

    1335 Main St, Carmel, IN 46032-1439

    $4,715,000
    Estimated value
    58,061 sqft 2.18 AC lot
    View details
    10201 Meridian St
    HOTEL/MOTEL

    10201 Meridian St, Carmel, IN 46290-1021

    $1,470,000
    Estimated value
    41,317 sqft 2.84 AC lot
    View details
    9696 Ditch Rd
    HOTEL/MOTEL

    9696 Ditch Rd, Carmel, IN 46032-9613

    $675,000
    Estimated value
    9,761 sqft 21.79 AC lot
    View details
    9625 Meridian St
    HOTEL/MOTEL

    9625 Meridian St, Carmel, IN 46290-1009

    $16,690,000
    Estimated value
    189,109 sqft 6.05 AC lot
    View details
    382 Arbor Dr
    HOTEL/MOTEL

    382 Arbor Dr, Carmel, IN 46032-5869

    $330,000
    Estimated value
    4,362 sqft 13.25 AC lot
    View details
    300 Providence Blvd
    HOTEL/MOTEL

    300 Providence Blvd, Carmel, IN 46032-4508

    $370,000
    Estimated value
    2,171 sqft 13.37 AC lot
    View details
    10675 Pennsylvania St
    HOTEL/MOTEL

    10675 Pennsylvania St, Carmel, IN 46280-1087

    $6,165,000
    Estimated value
    81,753 sqft 4.43 AC lot
    View details
    1964 Burning Tree Ln
    HOTEL/MOTEL

    1964 Burning Tree Ln, Carmel, IN 46032-7907

    $2,065,000
    Estimated value
    22,751 sqft 184.66 AC lot
    View details
    5910 William Conner Way
    HOTEL/MOTEL

    5910 William Conner Way, Carmel, IN 46033

    $380,000
    Estimated value
    1,956 sqft 1.39 AC lot
    View details

    Carmel, IN Hotels Market Trends and Statistics

    Explore 43 hotels for sale in Carmel, IN on our real estate platform.

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    Demographics Overview

    Population 145K
    Population Growth (5Y) +1.7%
    Median Household Income $128,931
    College Educated 82.0%

    Taxes & Financing

    Tax Rate (average for all types) 1.96%
    Property Tax per SF $24.58 per SF
    Tax Rate vs County Average 0.04 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Hamilton County

    New Delisted

    Property Size Breakdown

    The majority of commercial real estate listings in Carmel fall within the 100,000+ square foot range.

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