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Property profile & analytics
OFF-MARKET
Estimated value
$2,865,000
Hotels
3401 Plz Ct Elkhart, IN 46514-6714
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US31-0557893
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2007
Construction
WOOD
Total area
58,731 SF
Lot
2.64 ac (114,998 SF)
Zoning code
ZO01
APN
20-02-20-201-014.000-027
UPID
US31-0557893
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
-
Hilton Garden Inn Elkhart Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$2.87M
Owner & transaction history
Aj Hospitality LLC · 7 yrs held
Aj Hospitality LLC
since 2018
6 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.1M
+63.3%
Commercial (general)
$3.8M
+53.1%
Medical building
$3.4M
+36.0%
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 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
HOTEL/MOTEL
$2,500,000
Current use
AUTO REPAIR, GARAGE
$4,080,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,825,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$3,400,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$3,140,000
Change: +26% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,865,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,385,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$2.87M
Range $2.58M – $3.15M · ±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
$49 / 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
$120,922
Tax year 2023
Assessed value
$3,988,600
Assessed 2023
Previous assessed
$3,988,600
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$705,200
Assessed improvement
$3,283,400
Land market value
$705,200
Improvement market value
$3,283,400
Total market value
$3,988,600
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
2007
Construction
WOOD
Heating
NONE
Stories
3
Units
85
Total area
58,731 SF
Lot
2.64 ac (114,998 SF)
Zoning code
ZO01
APN
20-02-20-201-014.000-027
UPID
US31-0557893
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
$2.5M
AUTO REPAIR, GARAGE
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
2007
Construction
WOOD
Heating
NONE
Stories
3
Units
85
Lot
2.64 ac
Current owner
From public records · entity-resolved
Aj Hospitality LLC
Entity
Mailing address
121 S DR MARTIN LUTHER KING JR BLVD, SOUTH BEND, IN 46601-1901
Ownership since
2018
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
Sep 23, 2025
—
Jai Shree Krishna LLC
—
Deed
related
$5,000,000 · Orange Capital LLC
Sep 18, 2018
—
Aj Hospitality LLC
Kj Hospitality LLC
Quit Claim Deed
related
—
Jan 17, 2007
—
Anant N Patel
Ayush Corp
Quit Claim Deed
$4,000,000 · First State Bank Of Middlebury
—
—
Jai Shree Krishna LLC
—
Deed Of Trust
related
$6,000,000 · Lake City Bank
—
—
Anant Patel
—
Deed Of Trust
related
$6,000,000 · Lake City Bank
—
—
Jai Shree Krishna LLC
—
Deed Of Trust
related
$4,000,000 · Gita Patel
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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