Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$4,715,000
Hotels
1335 Main St Carmel, IN 46032-1439
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-3245564
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Construction
TYPE NOT SPECIFIED
Total area
58,061 SF
Lot
2.18 ac (94,961 SF)
APN
29-09-26-405-078.000-018
UPID
US31-3245564
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
-
Fairfield Inn & Suites Indianapolis Carmel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.78M
Comparable Approach
Comparable
$4.66M
Blend (final)
Blend
$4.72M
Owner & transaction history
Main Street Hotel Partners LLC · 10 yrs held
Main Street Hotel Partners LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.5M
+25.3%
Auto repair, garage
$6.7M
+12.4%
Retail stores
$6.1M
+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%
$5,170,000
6.5%
$4,775,000
7%
$4,430,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$6,000,000
Current use
RESTAURANT
$7,515,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,745,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$6,065,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$4.72M
Range $4.24M – $5.19M · ±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
$81 / 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
$106,507
Tax year 2023
Assessed value
$5,283,100
Assessed 2023
Previous assessed
$5,283,100
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$981,000
Assessed improvement
$4,302,100
Land market value
$981,000
Improvement market value
$4,302,100
Total market value
$5,283,100
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
2017
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
105
Total area
58,061 SF
Lot
2.18 ac (94,961 SF)
APN
29-09-26-405-078.000-018
UPID
US31-3245564
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
$6.0M
RESTAURANT
Est. value
$7.5M
AUTO REPAIR, GARAGE
Est. value
$6.7M
RETAIL STORES
Est. value
$6.1M
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
2017
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
105
Lot
2.18 ac
Current owner
From public records · entity-resolved
Main Street Hotel Partners LLC
Entity
Free & Clear · 10 yrs held
Mailing address
9333 N MERIDIAN ST STE #203, INDIANAPOLIS, IN 46260-1821
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 5, 2016
$924,800
Main Street Hotel Partners LLC
Edward Rose Dev Carmel LLC
Grant Deed
—
Dec 30, 2014
—
Edward Rose Dev Co LLC
Boomerang Dev LLC
Warranty 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1335 Main St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
