2233 Burton Ln Martinsville, IN 46151-9405
Property profile & analytics
2233 Burton Ln, Martinsville, IN 46151-9405
- Hotels
- 41,364 SF
- 1.82 lot acres
Property ID
US31-1543777
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Hotels
Property Details for 2233 Burton Ln
- Year built
- 2005
- Construction
- WOOD
- Lot size
- 1.82 lot acres
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 55-13-09-300-002.000-021
- APU
- 551309300002000021
Description
Exceptional investment opportunity: a 66-key Holiday Inn Express & Suites in Martinsville, Indiana, is available for purchase at $5,600,000. This fee-simple property boasts a prime location, just 18 miles north of Indiana University and 33 miles south of Indianapolis, directly off I-69. The hotel benefits from its proximity to Indiana University, a major demand generator attracting nearly fifty thousand students and millions of visitors annually for sporting events and other activities. Its strategic location also captures overflow from both Bloomington and Indianapolis markets, leading to high occupancy rates. Built in 2006 and fully renovated in 2023, this three-story, single-building hotel sits on a 1.817-acre lot. The property features 66 keys and comes with 13 years remaining on the Holiday Inn Express license. Currently operated by an out-of-state ownership group, the hotel will be delivered unencumbered of management, allowing a new owner to implement cost-saving measures through hands-on management. This presents a unique opportunity for an experienced operator to leverage a fully renovated property in a high-demand area, optimize expenses, and achieve strong long-term cash flow. The below-replacement cost makes this an attractive investment with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $3,870,000 Current use
- WAREHOUSE, STORAGE
- $3,465,000 Change: -10% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $3,350,000 Change: -13% Conversion: Difficult
- RETAIL STORES
- $3,345,000 Change: -14% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Martinsville
- County
- Morgan
- State
- Indiana
- Longitude
- -86.4359
- Latitude
- 39.4042
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$71,105
$371,700
$3,403,200
$3,774,900
-
$371,700
$3,403,200
$3,774,900
