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Property profile & analytics
OFF-MARKET
Estimated value
$3,590,000
Hotels
1208 Douglas Rd Mishawaka, IN 46545-1731
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US31-1497619
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2015
Construction
TYPE NOT SPECIFIED
Total area
71,394 SF
Lot
3.24 ac (141,214 SF)
APN
71-04-27-400-019.000-036
UPID
US31-1497619
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
-
Holiday Inn Mishawaka - Conference Center, an IHG Hotel Hotel & Motel
-
The Douglas Kitchen and Bar Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.22M
Blend (final)
Blend
$3.59M
Owner & transaction history
Granger Hospitality LLC · 12 yrs held
Granger Hospitality LLC
since 2013
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.1M
+181.2%
Apartment house (5+ units)
$5.0M
+176.6%
Restaurant
$4.7M
+162.5%
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 Mishawaka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mishawaka 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
AUTO REPAIR, GARAGE
$5,065,000
Change: +181% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,985,000
Change: +177% · Conversion: Difficult
RESTAURANT
$4,730,000
Change: +163% · Conversion: Difficult
RETAIL STORES
$3,860,000
Change: +114% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,205,000
Change: +78% · Conversion: Difficult
MEDICAL BUILDING
$3,160,000
Change: +75% · Conversion: Difficult
Blend value · Realmo final
$3.59M
Range $3.23M – $3.95M · ±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
$50 / 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
$69,070
Tax year 2023
Assessed value
$7,486,800
Assessed 2023
Previous assessed
$7,486,800
+0.0% YoY
Effective rate
0.92%
On assessed value
Assessed land
$728,500
Assessed improvement
$6,758,300
Land market value
$728,500
Improvement market value
$6,758,300
Total market value
$7,486,800
Applied tax rate
36.0000
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
2015
Construction
TYPE NOT SPECIFIED
Heating
CENTRAL
Buildings
2
Stories
4
Units
115
Rooms
5
Bathrooms
1
Total area
71,394 SF
Lot
3.24 ac (141,214 SF)
APN
71-04-27-400-019.000-036
UPID
US31-1497619
Jurisdiction
ST JOSEPH
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
AUTO REPAIR, GARAGE
Est. value
$5.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.0M
RESTAURANT
Est. value
$4.7M
RETAIL STORES
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$3.2M
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
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
2015
Construction
TYPE NOT SPECIFIED
Heating
CENTRAL
Stories
4
Buildings
2
Units
115
Rooms
5
Bathrooms
1
Lot
3.24 ac
Current owner
From public records · entity-resolved
Granger Hospitality LLC
Entity
Mailing address
247 N DIXIE WAY, SOUTH BEND, IN 46637-3309
Ownership since
2013
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
Oct 24, 2023
—
Granger Hospitality LLC
—
Deed
related
$5,000,000 · Orange Capital LLC
Mar 28, 2017
—
Granger Hospitality LLC
—
Deed
related
$7,000,000 · U N Properties Corp
Dec 2, 2013
—
Granger Hospitality LLC
Jsk Investment INC
Quit Claim Deed
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.
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