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Property profile & analytics
OFF-MARKET
Hotels
2301 Lexington Ave Elkhart, IN 46514-1493
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0141648
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1975
Construction
WOOD
Total area
3,105 SF
Lot
4.9 ac (213,444 SF)
Zoning code
ZO01
APN
20-05-01-480-013.000-006
UPID
US31-0141648
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
-
Lexington Square Apartments Apartment Building Apartment Complex
-
North River Landing Apartments Real Estate Agency
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
Lexington Sq Apartments LLC · 13 yrs held
Lexington Sq Apartments LLC
since 2012
7 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, 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 Elkhart submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elkhart 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
$64,017
Tax year 2023
Assessed value
$3,135,500
Assessed 2023
Previous assessed
$3,135,500
+0.0% YoY
Effective rate
2.04%
On assessed value
Assessed land
$147,000
Assessed improvement
$2,988,500
Land market value
$147,000
Improvement market value
$2,988,500
Total market value
$3,135,500
Applied tax rate
6.0000
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
1975
Construction
WOOD
Heating
YES
Buildings
5
Stories
1
Units
12
Total area
3,105 SF
Lot
4.9 ac (213,444 SF)
Zoning code
ZO01
APN
20-05-01-480-013.000-006
UPID
US31-0141648
Jurisdiction
ELKHART
Zoning & alternative use
ZO01 · Elkhart, IN
Zoning ZO01 · permitted uses
ZO01 · Elkhart, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Elkhart. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1975
Construction
WOOD
Heating
YES
Stories
1
Buildings
5
Units
12
Lot
4.9 ac
Current owner
From public records · entity-resolved
Lexington Sq Apartments LLC
Entity
Mailing address
1051 PERIMETER DR STE #550, SCHAUMBURG, IL 60173-5807
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2012
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$5,858,526 · Leaders Bank
Mar 20, 2009
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$5,935,000 · Leaders Bank
Jan 16, 2009
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$6,000,000 · Leaders Bank
Dec 7, 2004
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$6,000,000 · Leaders Bank
—
—
Lexington Sq Apartments LLC
—
Loan Modification
related
$5,940,870 · Leaders Bank
—
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$250,000 · Leaders Bank
—
—
Lexington Sq Apartments LLC
—
Deed Of Trust
related
$5,935,000 · Leaders 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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