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Property profile & analytics
OFF-MARKET
Estimated value
$1,455,000
Turn key restaurants
3011 Belvedere Rd Elkhart, IN 46514-5544
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-3363524
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1973
Construction
WOOD
Total area
25,010 SF
Lot
8.45 ac (367,995 SF)
Zoning code
ZO01
APN
20-02-20-401-012.000-027
UPID
US31-3363524
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
-
The Garden Inn Hotel & Motel
-
B n Bs Paving Construction Company
-
The Garden Restaurant Restaurant
-
El Rancho Viejo Elkhart Restaurant
-
The Garden Inn Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.46M
Owner & transaction history
A & K Motel LLC · 1 yrs held
A & K Motel LLC
since 2025
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,100,000
Current use
AUTO REPAIR, GARAGE
$1,740,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.60M · ±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
$58 / 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
$95,034
Tax year 2023
Assessed value
$3,402,000
Assessed 2023
Previous assessed
$3,402,000
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$500,000
Assessed improvement
$2,902,000
Land market value
$500,000
Improvement market value
$2,902,000
Total market value
$3,402,000
Applied tax rate
27.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1973
Construction
WOOD
Heating
YES
Buildings
3
Stories
1
Units
56
Total area
25,010 SF
Lot
8.45 ac (367,995 SF)
Zoning code
ZO01
APN
20-02-20-401-012.000-027
UPID
US31-3363524
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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RESTAURANT Current
AUTO REPAIR, GARAGE
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
1973
Construction
WOOD
Heating
YES
Stories
1
Buildings
3
Units
56
Lot
8.45 ac
Current owner
From public records · entity-resolved
A & K Motel LLC
Entity
Free & Clear · 1 yrs held
Mailing address
3011 BELVEDERE RD, ELKHART, IN 46514-5544
Ownership since
2025
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
Jul 2, 2025
—
A & K Motel LLC
Lucky Properties LLC
Deed
—
Jun 10, 2024
—
Lucky Properties LLC
—
Deed
related
$1,469,000 · Harvest Commercial Capital LLC
May 8, 2014
—
Lucky Properties LLC
Community South Bk Parsons Ten
Grant Deed
related
—
Jan 6, 2012
$1,200,000
Community S Bk
Sheriff Of Elkhart County
Trustees Deed
related
—
Jul 15, 2008
—
Indiana Hospitality LLC
First Elkhart LLC
Grant Deed
$2,745,000 · Community South Bank
—
—
Indiana Statewide Certified De
—
Deed Of Trust
related
$2,745,000 · Community South Bank
—
—
Indiana Hospitality LLC
—
Deed Of Trust
related
$1,947,000 · Indiana Statewide Certified De
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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