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    9530 In-56 French Lick, IN 47432
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    9530 In-56, French Lick, IN 47432

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    • Hospitality properties
    • 2.91 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitality properties

    Property Details for 9530 In-56

    Year built
    2008
    Lot size
    2.91 lot acres
    Property type
    Hospitality properties
    Property subtype
    Hotels

    Description

    This exceptional 80-room Comfort Suites hotel in French Lick, Indiana, presents a lucrative investment opportunity. Built in 2008 and recently renovated, the property boasts a new roof and gutters, along with brand new furniture and televisions throughout all 80 guest rooms. Amenities include an indoor swimming pool, business center, dining area, and a meeting room. Situated on a 2.91-acre lot at 9530 IN-56, this three-story building enjoys a prime location just minutes from the French Lick Resort Casino, West Baden Springs Hotel, Big Splash Water Park, Paoli Peaks Ski Resort, and Patoka Lake. Guests can easily access a wide array of recreational activities, including golf, casino gaming, boating, fishing, skiing (water and winter), bowling, and extensive hiking trails in the Hoosier National Forest. The property's recent Major Property Improvement Program (PIP) has significantly enhanced its appeal, leading to increased business. The asking price for this turnkey operation is $5,100,000. The property's APN is 59-12-09-600-053.002-002.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    French Lick
    County
    Orange
    State
    Indiana
    Longitude
    -86.638
    Latitude
    38.5341

    Comparable in this City

    • Value Estimation
      $875,000
      271,770 SF

      8670 State Rd 56

      HOTEL/MOTEL
      8670 State Rd 56, French Lick, IN 47432-9389
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    • Value Estimation by Request
      5,720 SF

      9633 State Rd 56

      HOTEL/MOTEL
      9633 State Rd 56, French Lick, IN 47432-8105
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    • Value Estimation
      $940,000
      105,316 SF

      8505 State Rd 56

      HOTEL/MOTEL
      8505 State Rd 56, French Lick, IN 47432-9401
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    • Value Estimation
      $750,000
      48,663 SF

      9530 State Rd 56

      HOTEL/MOTEL
      9530 State Rd 56, French Lick, IN 47432-9708
      View Details
    • Value Estimation
      $940,000
      86,532 SF

      Hwy 56

      HOTEL/MOTEL
      Hwy 56, French Lick, IN 47432
      View Details
    • Value Estimation
      $755,000
      45,854 SF

      613 Arnold F Habig

      HOTEL/MOTEL
      613 Arnold F Habig, French Lick, IN 47432-8327
      View Details

    Similar Nearby for Sale

    • $4,600,000
      2.91 Acres

      Comfort Suites French Lick

      80-room hotel near French Lick Resort Casino.
      9530 W State Rd 56 Hwy, French Lick, IN 47432
      View Details
    • $4,600,000
      2.91 Acres

      Comfort Suites in French Lick

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      9530 W State Road 56, French Lick, IN 47432
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    • New
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      Prime Commercial Building in Downtown

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      Residential Land in French Lick

      Residential lot with utilities available in French Lick, Indiana.
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      Wooded Lot Near French Lick

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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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