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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Hotels
1010 Rangeline Rd Carmel, IN 46032
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-3531814
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1986
Construction
WOOD
Total area
3,536 SF
Lot
31.7 ac (1,380,852 SF)
APN
29-10-19-000-023.000-018
UPID
US31-3531814
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$635k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$637k
Blend (final)
Blend
$635k
Owner & transaction history
Carmel Woods Apartments LLC · 7 yrs held
Carmel Woods Apartments LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$500,000
+36.7%
Auto repair, garage
$410,000
+12.4%
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 Carmel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmel 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
$635,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$500,000
Change: +37% · Conversion: Difficult
AUTO REPAIR, GARAGE
$410,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$180 / 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
Tax billed
$493,311
Tax year 2023
Assessed value
$24,469,800
Assessed 2023
Previous assessed
$24,469,800
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$4,051,200
Assessed improvement
$20,418,600
Land market value
$4,051,200
Improvement market value
$20,418,600
Total market value
$24,469,800
Applied tax rate
18.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
NONE
Buildings
18
Stories
1
Total area
3,536 SF
Lot
31.7 ac (1,380,852 SF)
APN
29-10-19-000-023.000-018
UPID
US31-3531814
Jurisdiction
HAMILTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$500,000
AUTO REPAIR, GARAGE
Est. value
$410,000
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Construction
WOOD
Heating
NONE
Stories
1
Buildings
18
Lot
31.7 ac
Current owner
From public records · entity-resolved
Carmel Woods Apartments LLC
Entity
Mailing address
1075 BROAD RIPPLE AVE #350, INDIANAPOLIS, IN 46220-2034
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2019
$33,900,000
Carmel Woods Apartments LLC
Carmel Woods LLC
Grant Deed
—
Feb 21, 2018
—
City Of Carmel Indiana
Carmel Woods LLC
Quit Claim Deed
—
—
—
Carmel Woods LLC
—
Deed Of Trust
related
$16,280,000 · Merrill Lynch Mortgage Lending
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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