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Property profile & analytics
OFF-MARKET
Estimated value
$2,065,000
Hotels
1964 Burning Tree Ln Carmel, IN 46032-7907
Individually Owned
17-yr Hold
Free & Clear
Property ID
US31-0560716
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2004
Construction
WOOD
Total area
22,751 SF
Lot
184.66 ac (8,043,790 SF)
APN
29-13-04-000-086.000-018
UPID
US31-0560716
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
-
P G A Tour Entertainment Theater & Performing Art Venue Music Venue
-
Crooked Stick Golf Club Golf Course
-
Compound TV Electronics & Wireless Store
-
US Senior Open Account Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.07M
Owner & transaction history
Thomas B Hession · 17 yrs held
Thomas B Hession
since 2008
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.2M
+36.7%
Restaurant
$2.9M
+25.3%
Auto repair, garage
$2.6M
+12.4%
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%
$2,025,000
6.5%
$1,870,000
7%
$1,735,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,350,000
Current use
WAREHOUSE, STORAGE
$3,215,000
Change: +37% · Conversion: Difficult
RESTAURANT
$2,945,000
Change: +25% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,645,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$2,375,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.07M
Range $1.86M – $2.27M · ±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
$91 / 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
$79,495
Tax year 2023
Assessed value
$3,915,700
Assessed 2023
Previous assessed
$3,915,700
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$1,075,300
Assessed improvement
$2,840,400
Land market value
$1,075,300
Improvement market value
$2,840,400
Total market value
$3,915,700
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
2004
Construction
WOOD
Heating
NONE
Buildings
6
Stories
2
Total area
22,751 SF
Lot
184.66 ac (8,043,790 SF)
APN
29-13-04-000-086.000-018
UPID
US31-0560716
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
$2.4M
WAREHOUSE, STORAGE
Est. value
$3.2M
RESTAURANT
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES
Est. value
$2.4M
HOTEL/MOTEL Current
WAREHOUSE, STORAGE
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
2004
Construction
WOOD
Heating
NONE
Stories
2
Buildings
6
Lot
184.66 ac
Current owner
From public records · entity-resolved
Thomas B Hession
Individual
Free & Clear · 17 yrs held
Mailing address
1964 BURNING TREE LN, CARMEL, IN 46032-7907
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
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
Sep 20, 2024
—
Crooked Stick Golf Club INC
—
Deed
related
$4,000,000 · Star Financial Bank
Oct 12, 2018
—
Crooked Stick Golf Club INC
—
Deed
related
$1,250,000 · Star Fin'l
Oct 1, 2008
—
Thomas B Hession
Crooked Stick Golf Club INC
Quit Claim Deed
—
—
—
Crooked Stick Golf Club INC
—
Loan Modification
related
$1,250,000 · Star Fin'l
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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