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Property profile & analytics
OFF-MARKET
Estimated value
$1,370,000
Hotels
345 Windsor Ave Elkhart, IN 46514-5520
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0041969
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1986
Construction
WOOD
Total area
21,060 SF
Lot
1.3 ac (56,628 SF)
Zoning code
ZO01
APN
20-02-20-452-028.000-027
UPID
US31-0041969
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
-
Super 8 by Wyndham Elkhart Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.37M
Owner & transaction history
Jay Bros INC · 1 yrs held
Jay Bros INC
since 2024
6 recorded transactions
Zoning & alternative use
ZO01 · Elkhart, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+97.4%
Auto repair, garage
$1.5M
+63.3%
Commercial (general)
$1.4M
+53.1%
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
$895,000
Current use
RESTAURANT
$1,770,000
Change: +97% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,465,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,370,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$1,220,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$1,125,000
Change: +26% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,025,000
Change: +15% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$855,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.51M · ±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
$65 / 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
$82,924
Tax year 2023
Assessed value
$2,735,600
Assessed 2023
Previous assessed
$2,735,600
+0.0% YoY
Effective rate
3.03%
On assessed value
Assessed land
$390,000
Assessed improvement
$2,345,600
Land market value
$390,000
Improvement market value
$2,345,600
Total market value
$2,735,600
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
1986
Construction
WOOD
Heating
YES
Cooling
YES
Stories
2
Units
59
Total area
21,060 SF
Lot
1.3 ac (56,628 SF)
Zoning code
ZO01
APN
20-02-20-452-028.000-027
UPID
US31-0041969
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
$895,000
RESTAURANT
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$855,000
HOTEL/MOTEL Current
RESTAURANT
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
1986
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
59
Lot
1.3 ac
Current owner
From public records · entity-resolved
Jay Bros INC
Entity
Mailing address
4747 1ST AVE SE, CEDAR RAPIDS, IA 52402-3211
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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 25, 2024
—
Jay Bros INC
Aarnuj LLC
Warranty Deed
$1,892,000 · Gbank
May 14, 2024
$2,000,000
Jay Bros INC
Aarnuj LLC
Land Contract
—
Aug 4, 2023
—
Aarnuj LLC
—
Deed
related
$200,000 · First Federal Savings Bank
Aug 3, 2021
—
Aarnuj LLC
Hsp Corporation
Warranty Deed
$1,850,000 · Bank Of George
May 2, 2017
—
Hsp Corp
Sai Hospitality LLC
Warranty Deed
$1,730,000 · First Wstrn Sblc
Dec 7, 2007
—
Om Hotels Real Estate LLC
Elkhart Hospitality Corp
Warranty Deed
$1,209,000 · Unity 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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