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Property profile & analytics
FOR SALE
Hotels
1501 S High School Rd Indianapolis, IN 46241
Entity Owned
3-yr Hold
Free & Clear
Property ID
US31-0503510
For Sale
$895,000
1501 S High School Rd, Indianapolis, IN 46241
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1954
Construction
WOOD
Total area
14,148 SF
Lot
4.4 ac (191,795 SF)
Zoning code
ZO01
APN
49-05-36-107-006.000-982
UPID
US31-0503510
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
-
quality cars Car Dealership
-
DogTown Veterinary Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
High School Westwood Property LLC · 3 yrs held
High School Westwood Property LLC
since 2022
4 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,286
Tax year 2023
Assessed value
$157,800
Assessed 2023
Previous assessed
$157,800
+0.0% YoY
Effective rate
3.35%
On assessed value
Assessed land
$56,900
Assessed improvement
$100,900
Land market value
$56,900
Improvement market value
$100,900
Total market value
$157,800
Applied tax rate
982.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Sale
Year built
1954
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
14,148 SF
Lot
4.4 ac (191,795 SF)
Zoning code
ZO01
APN
49-05-36-107-006.000-982
UPID
US31-0503510
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1954
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
4.4 ac
Current owner
From public records · entity-resolved
High School Westwood Property LLC
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 241, BROWNSBURG, IN 46112-0241
Ownership since
2022
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
Jul 21, 2022
—
High School Westwood Property LLC
Westwood Club LLC
Special Warranty Deed
—
Dec 8, 2021
—
City Of Indianapolis Department Of
Westwood Club LLC
Warranty Deed
—
Mar 22, 2021
—
Indiana Teamsters Safety Training &
Bc Trucking INC
Warranty Deed
—
Apr 22, 2019
—
Bc Trucking INC
Dee Wilson
Deed
$360,000 · Horizon Bank NA
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?”
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