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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Hotels
3321 Plz Ct Elkhart, IN 46514-6715
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US31-3278477
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1988
Construction
WOOD
Total area
36,554 SF
Lot
1.95 ac (84,942 SF)
Zoning code
ZO01
APN
20-02-20-201-013.000-027
UPID
US31-3278477
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
-
Motel 6 Elkhart, IN Hotel & Motel
-
Studio 6 Suites Elkhart, IN Hotel & Motel Vacation Rental
-
Quality Inn & Suites Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$990k
Owner & transaction history
Jay Amarnath Group LLC · 3 yrs held
Jay Amarnath Group LLC
since 2022
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
$835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,555,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,485,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$27 / 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
$59,367
Tax year 2023
Assessed value
$1,955,000
Assessed 2023
Previous assessed
$1,955,000
+0.0% YoY
Effective rate
3.04%
On assessed value
Assessed land
$495,000
Assessed improvement
$1,460,000
Land market value
$495,000
Improvement market value
$1,460,000
Total market value
$1,955,000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Units
70
Total area
36,554 SF
Lot
1.95 ac (84,942 SF)
Zoning code
ZO01
APN
20-02-20-201-013.000-027
UPID
US31-3278477
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
HOTEL/MOTEL Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
1988
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
70
Lot
1.95 ac
Current owner
From public records · entity-resolved
Jay Amarnath Group LLC
Entity
Mailing address
2077 MINER ST, DES PLAINES, IL 60016-4711
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2025
—
Dharmendra Sonani
—
Deed
related
$260,000 · The Loan Store INC
May 22, 2025
—
Jay Amarnath Group LLC
—
Deed
related
$340,000 · Millennium Bank
Dec 19, 2022
—
Jay Amarnath Group LLC
Shiv Shakti 3321 INC
Warranty Deed
$1,846,200 · Millennium Bank
Dec 11, 2019
—
Shiv Shakti 3321 INC
Plaza Hospitality LLC
Warranty Deed
$1,865,000 · Millennium Bank
Sep 18, 2018
—
Plaza Hospitality LLC
Jai Shree Krishna LLC
Quit Claim Deed
related
—
Nov 29, 2012
—
Plaza Hospitality LLC
Ktb Hospitality LLC
Quit Claim Deed
related
$2,521,530 · First State Bank Of Middlebury
Jan 4, 2007
—
Ktb Hospitality LLC
Sheriff Of Elkhart County
Trustees Deed
related
—
—
—
Anant Corp
—
Deed Of Trust
related
$1,100,000 · Anant N Patel
—
—
Ktb Hospitality LLC
—
Deed Of Trust
related
$2,240,000 · Centier 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.
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