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Property profile & analytics
OFF-MARKET
Estimated value
$14,895,000
Hotels
11925 Meridian St Carmel, IN 46032-4545
Entity Owned
8-yr Hold
Free & Clear
Property ID
US31-0508471
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2007
Construction
TYPE NOT SPECIFIED
Total area
189,622 SF
Lot
7.43 ac (323,651 SF)
APN
29-09-35-000-015.000-018
UPID
US31-0508471
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
-
11925 N. Meridian St. Parking Parking Lot & Garage
-
Grille 39 Restaurant
-
Carmel Auto Transport Trucking Company
-
Renaissance Indianapolis North Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$15.59M
Comparable Approach
Comparable
$14.20M
Blend (final)
Blend
$14.90M
Owner & transaction history
Carmel Hotel LLC · 8 yrs held
Carmel Hotel LLC
since 2018
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$24.6M
+25.3%
Auto repair, garage
$22.0M
+12.4%
Retail stores
$19.8M
+1.1%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$16,890,000
6.5%
$15,590,000
7%
$14,475,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$19,595,000
Current use
RESTAURANT
$24,550,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$22,035,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$19,805,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$14.90M
Range $13.41M – $16.38M · ±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
$79 / 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
$324,508
Tax year 2023
Assessed value
$16,092,900
Assessed 2023
Previous assessed
$16,092,900
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$3,715,000
Assessed improvement
$12,377,900
Land market value
$3,715,000
Improvement market value
$12,377,900
Total market value
$16,092,900
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
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
8
Units
264
Total area
189,622 SF
Lot
7.43 ac (323,651 SF)
APN
29-09-35-000-015.000-018
UPID
US31-0508471
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
HOTEL/MOTEL Current
Est. value
$19.6M
RESTAURANT
Est. value
$24.6M
AUTO REPAIR, GARAGE
Est. value
$22.0M
RETAIL STORES
Est. value
$19.8M
HOTEL/MOTEL Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
2007
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
8
Units
264
Lot
7.43 ac
Current owner
From public records · entity-resolved
Carmel Hotel LLC
Entity
Free & Clear · 8 yrs held
Mailing address
11925 N MERIDIAN ST, CARMEL, IN 46032-4545
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2018
—
Carmel Hotel LLC
Carmel Hotel LLC
Quit Claim Deed
—
Mar 28, 2014
—
Carmel Hotel LLC
Carmel Hotel LLC
Quit Claim Deed
related
—
Apr 19, 2007
—
Carmel Hotel LLC
Washington National Ins
Grant Deed
—
—
—
Carmel Hotel LLC
—
Loan Modification
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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