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Property profile & analytics
OFF-MARKET
Estimated value
$4,930,000
Hotels
13090 Pennsylvania St Carmel, IN 46032-5404
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-3056799
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2003
Construction
TYPE NOT SPECIFIED
Total area
63,988 SF
Lot
3.19 ac (138,956 SF)
APN
29-09-26-000-016.003-018
UPID
US31-3056799
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
-
Hilton Garden Inn Indianapolis/Carmel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.26M
Comparable Approach
Comparable
$4.60M
Blend (final)
Blend
$4.93M
Owner & transaction history
Mh Partners LLC · 1 yrs held
Mh Partners LLC
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.4M
+12.4%
Retail stores
$6.7M
+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%
$5,700,000
6.5%
$5,260,000
7%
$4,885,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,615,000
Current use
AUTO REPAIR, GARAGE
$7,435,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$6,685,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.93M
Range $4.44M – $5.42M · ±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
$77 / 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
$105,189
Tax year 2023
Assessed value
$5,214,000
Assessed 2023
Previous assessed
$5,214,000
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$1,279,100
Assessed improvement
$3,934,900
Land market value
$1,279,100
Improvement market value
$3,934,900
Total market value
$5,214,000
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
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
4
Units
110
Total area
63,988 SF
Lot
3.19 ac (138,956 SF)
APN
29-09-26-000-016.003-018
UPID
US31-3056799
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
$6.6M
AUTO REPAIR, GARAGE
Est. value
$7.4M
RETAIL STORES
Est. value
$6.7M
HOTEL/MOTEL Current
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
2003
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Buildings
2
Units
110
Lot
3.19 ac
Current owner
From public records · entity-resolved
Mh Partners LLC
Entity
Mailing address
9904 N BY NE BLVD, FISHERS, IN 46037-9635
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
May 19, 2025
—
Mh Partners LLC
Meridian Hotel Partners LLC
Deed
$12,000,000 · Indiana University Cu
Oct 22, 2024
—
Meridian Hotel Partners LLC
—
Deed
related
$12,000,000 · Indiana University Cu
Oct 1, 2018
—
Meridian Hotel Partners LLC
—
Deed
related
$10,000,000 · Legence Bank
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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