Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$8,660,000
Hotels
350 Maryland St Indianapolis, IN 46225-1051
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US31-0040932
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2000
Construction
CONCRETE
Total area
216,198 SF
Lot
2.3 ac (100,057 SF)
Zoning code
ZO01
APN
49-11-11-251-002.000-101
UPID
US31-0040932
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
-
Town Park County Government Office
-
ADVANCED MEDICAL MASSAGE Alternative Medicine Practice Spa & Massage Center
-
Circle City Bar & Grille Restaurant
-
mariott indianapolis High School
-
Conner's Kitchen + Bar Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.64M
Blend (final)
Blend
$8.66M
Owner & transaction history
Imd2 LLC · 10 yrs held
Imd2 LLC
since 2016
5 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Commercial (general)
$14.2M
+187.0%
Retail stores
$13.7M
+178.0%
Restaurant
$11.9M
+141.9%
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
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
COMMERCIAL (GENERAL)
$14,150,000
Change: +187% · Conversion: Difficult
RETAIL STORES
$13,705,000
Change: +178% · Conversion: Difficult
RESTAURANT
$11,925,000
Change: +142% · Conversion: Difficult
OFFICE BUILDING
$10,685,000
Change: +117% · Conversion: Difficult
MEDICAL BUILDING
$8,580,000
Change: +74% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,350,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$8.66M
Range $7.79M – $9.53M · ±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
$40 / 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
$1,788,793
Tax year 2023
Assessed value
$83,940,100
Assessed 2023
Previous assessed
$83,940,100
+0.0% YoY
Effective rate
2.13%
On assessed value
Assessed land
$4,401,400
Assessed improvement
$79,538,700
Land market value
$4,401,400
Improvement market value
$79,538,700
Total market value
$83,940,100
Applied tax rate
101.0000
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
2000
Construction
CONCRETE
Heating
NONE
Buildings
2
Stories
18
Units
1845
Total area
216,198 SF
Lot
2.3 ac (100,057 SF)
Zoning code
ZO01
APN
49-11-11-251-002.000-101
UPID
US31-0040932
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, INZoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$14.2M
RETAIL STORES
Est. value
$13.7M
RESTAURANT
Est. value
$11.9M
OFFICE BUILDING
Est. value
$10.7M
MEDICAL BUILDING
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$8.4M
COMMERCIAL (GENERAL)
RETAIL STORES
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
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
2000
Construction
CONCRETE
Heating
NONE
Stories
18
Buildings
2
Units
1845
Lot
2.3 ac
Current owner
From public records · entity-resolved
Imd2 LLC
Entity
Mailing address
701 E 83RD AVE, MERRILLVILLE, IN 46410-9202
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2026
—
Imd2 LLC
—
Deed
related
$120,000,000 · Bank Of America
Jul 12, 2019
—
Imd2 LLC
—
Loan Modification
related
$130,000,000 · Bank Of America
Jul 25, 2016
$165,000,000
Imd2 LLC
Lho Indianapolis Hotel One LLC
Grant Deed
$130,000,000 · Bank Of America
Jun 12, 2006
—
Lho Indianapolis Hotel One LLC
—
Deed Of Trust
related
$101,780,000 · Bank Of America
Feb 12, 2004
—
Convention Hotel Ptrs II LLC
Convention Hotel Partners LLC
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 350 Maryland St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
