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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Hotels
350 New York St Indianapolis, IN 46202-3240
Entity Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0019408
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1998
Construction
WOOD
Total area
74,515 SF
Lot
1.83 ac (79,500 SF)
Zoning code
ZO01
APN
49-11-02-124-007.000-101
UPID
US31-0019408
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
-
Residence Inn Indianapolis Downtown on the Canal Hotel & Motel
-
Citimark Management Co Real Estate Agency
-
Indianapolis Corporate Office
-
JANITORIAL & SANITATION SUPPLIES Big Box & Wholesale Store Building Supply
-
United American Security Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$790k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$787k
Blend (final)
Blend
$790k
Owner & transaction history
Rlj II-indy Capitol Hotels LLC · 20 yrs held
Rlj II-indy Capitol Hotels LLC
since 2006
2 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, 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 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
$790,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$11 / 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
$97,782
Tax year 2023
Assessed value
$3,525,200
Assessed 2023
Previous assessed
$3,525,200
+0.0% YoY
Effective rate
2.77%
On assessed value
Assessed land
$3,497,100
Assessed improvement
$28,100
Land market value
$3,497,100
Improvement market value
$28,100
Total market value
$3,525,200
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
Status
Off-Market
Year built
1998
Construction
WOOD
Heating
YES
Cooling
YES
Stories
4
Units
786
Total area
74,515 SF
Lot
1.83 ac (79,500 SF)
Zoning code
ZO01
APN
49-11-02-124-007.000-101
UPID
US31-0019408
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1998
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
4
Units
786
Lot
1.83 ac
Current owner
From public records · entity-resolved
Rlj II-indy Capitol Hotels LLC
Entity
Free & Clear · 20 yrs held
Mailing address
3 BETHESDA METRO CTR STE #1000, BETHESDA, MD 20814-6347
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2024
—
Gp Cm Lockerbie Partners LLC
—
Deed
related
$12,025,000 · Horizon Bank NA
Jun 30, 2006
—
Rlj II-indy Capitol Hotels LLC
Hotel Properties 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.
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