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Property profile & analytics
OFF-MARKET
Estimated value
$2,715,000
Hotels
2349 Post Dr Indianapolis, IN 46219-1979
Entity Owned
5-yr Hold
Free & Clear
Property ID
US31-1163761
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1993
Construction
WOOD
Total area
30,624 SF
Lot
1.61 ac (69,949 SF)
Zoning code
ZO01
APN
49-08-30-112-006.000-700
UPID
US31-1163761
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
-
Norwood Inn & Suites Indianapolis Hotel & Motel
-
Norwood Inn & Suites Indianapolis East Post Drive Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.80M
CAP Approach
CAP
$2.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.72M
Owner & transaction history
Perin LLC · 5 yrs held
Perin LLC
since 2020
6 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.5M
+256.7%
Restaurant
$2.2M
+208.6%
Retail stores
$1.8M
+153.0%
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
Method
Estimation
Statistic approach
$3,130,000
ML approach
$2,800,000
CAP Approach
CAP Return
Estimation
6%
$2,400,000
6.5%
$2,215,000
7%
$2,055,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,490,000
Change: +257% · Conversion: Difficult
RESTAURANT
$2,155,000
Change: +209% · Conversion: Difficult
RETAIL STORES
$1,765,000
Change: +153% · Conversion: Difficult
Blend value · Realmo final
$2.72M
Range $2.44M – $2.99M · ±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
$89 / 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
$69,865
Tax year 2023
Assessed value
$2,432,200
Assessed 2023
Previous assessed
$2,432,200
+0.0% YoY
Effective rate
2.87%
On assessed value
Assessed land
$461,700
Assessed improvement
$1,970,500
Land market value
$461,700
Improvement market value
$1,970,500
Total market value
$2,432,200
Applied tax rate
700.0000
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
1993
Construction
WOOD
Heating
NONE
Buildings
2
Stories
3
Units
237
Total area
30,624 SF
Lot
1.61 ac (69,949 SF)
Zoning code
ZO01
APN
49-08-30-112-006.000-700
UPID
US31-1163761
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.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.5M
RESTAURANT
Est. value
$2.2M
RETAIL STORES
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
1993
Construction
WOOD
Heating
NONE
Stories
3
Buildings
2
Units
237
Lot
1.61 ac
Current owner
From public records · entity-resolved
Perin LLC
Entity
Free & Clear · 5 yrs held
Mailing address
2401 PRIOR AVE N, ROSEVILLE, MN 55113-2714
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2020
—
Perin LLC
Cplg Properties LLC
Special Warranty Deed
—
Jun 7, 2018
—
Cplg Properties LLC
—
Grant Deed
related
$1,035,000,000 · Jpmorgan Chase Bk NA
Aug 7, 2007
—
Bre Of Lq Properties LLC
—
Deed Of Trust
related
—
Mar 7, 2006
—
Bre Of Lq Properties LLC
Laquinta Properties INC
Deed Of Trust
related
$2,075,000,000 · Bank Of America
Sep 15, 2004
—
Laquinta Properties INC
Marcus Consid LLC
Warranty Deed
related
—
Jul 26, 2004
—
Marcus Consid LLC
B & G Realty INC
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.
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