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Property profile & analytics
OFF-MARKET
Estimated value
$645,000
Hotels
1030 Franklin St Evansville, IN 47710-1171
Entity Owned
6-yr Hold
Free & Clear
Property ID
US31-1225843
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1971
Construction
STEEL FRAME
Total area
9,689 SF
Lot
1.02 ac (44,625 SF)
APN
82-06-19-029-062.001-029
UPID
US31-1225843
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
-
William G Schnute Apartments Low Income Housing Program Apartment Building
-
Schnute Tower Apartment Building Housing Complex
-
These United States/Timeclick.online Research Foundation
-
Timeclick.online Media Distribution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$667k
Blend (final)
Blend
$645k
Owner & transaction history
Advantix Development Corporation · 6 yrs held
Advantix Development Corporation
since 2019
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$985,000
+101.8%
Industrial (general)
$790,000
+61.9%
Retail stores
$635,000
+30.4%
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 Evansville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evansville 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$485,000
Current use
AUTO REPAIR, GARAGE
$985,000
Change: +102% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$790,000
Change: +62% · Conversion: Difficult
RETAIL STORES
$635,000
Change: +30% · Conversion: Difficult
RESTAURANT
$630,000
Change: +30% · Conversion: Difficult
COMMERCIAL (GENERAL)
$620,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$450,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$645k
Range $581k – $710k · ±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
$67 / 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
$2,174,800
Assessed 2023
Previous assessed
$2,174,800
+0.0% YoY
Assessed land
$44,600
Assessed improvement
$2,130,200
Land market value
$44,600
Improvement market value
$2,130,200
Total market value
$2,174,800
Applied tax rate
29.0000
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
1971
Construction
STEEL FRAME
Heating
NONE
Buildings
2
Stories
1
Units
8
Total area
9,689 SF
Lot
1.02 ac (44,625 SF)
APN
82-06-19-029-062.001-029
UPID
US31-1225843
Jurisdiction
VANDERBURGH
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
HOTEL/MOTEL Current
Est. value
$485,000
AUTO REPAIR, GARAGE
Est. value
$985,000
INDUSTRIAL (GENERAL)
Est. value
$790,000
RETAIL STORES
Est. value
$635,000
RESTAURANT
Est. value
$630,000
COMMERCIAL (GENERAL)
Est. value
$620,000
MEDICAL BUILDING
Est. value
$450,000
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
RESTAURANT
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1971
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
2
Units
8
Lot
1.02 ac
Current owner
From public records · entity-resolved
Advantix Development Corporation
Entity
Free & Clear · 6 yrs held
Mailing address
500 SE 10TH ST, EVANSVILLE, IN 47713-1584
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2019
—
Advantix Development Corporation
Housing Authority Of City Of Evansv
Warranty Deed
—
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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