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Property profile & analytics
OFF-MARKET
Estimated value
$4,385,000
Hotels
3655 Riv Xing Pkwy Indianapolis, IN 46240
Individually Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-0997888
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1998
Construction
TYPE NOT SPECIFIED
Total area
104,768 SF
Lot
7.35 ac (320,079 SF)
Zoning code
ZO01
APN
49-02-17-106-009.000-800
UPID
US31-0997888
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
-
convention center Business Service Center Conference Center
-
indianapolis convention center Business Service Center Conference Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.66M
Blend (final)
Blend
$4.39M
Owner & transaction history
Columbia Props Indianapolis · 20 yrs held
Columbia Props Indianapolis
since 2006
1 recorded transaction
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.2M
+116.8%
Retail stores
$4.5M
+89.4%
Restaurant
$4.3M
+79.4%
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
OFFICE BUILDING
$5,180,000
Change: +117% · Conversion: Difficult
RETAIL STORES
$4,525,000
Change: +89% · Conversion: Difficult
RESTAURANT
$4,285,000
Change: +79% · Conversion: Difficult
MEDICAL BUILDING
$4,160,000
Change: +74% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,060,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$4.39M
Range $3.95M – $4.82M · ±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
$42 / 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
$741,729
Tax year 2023
Assessed value
$29,223,800
Assessed 2023
Previous assessed
$29,223,800
+0.0% YoY
Effective rate
2.54%
On assessed value
Assessed land
$5,985,500
Assessed improvement
$23,238,300
Land market value
$5,985,500
Improvement market value
$23,238,300
Total market value
$29,223,800
Applied tax rate
800.0000
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
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Buildings
2
Stories
11
Units
900
Total area
104,768 SF
Lot
7.35 ac (320,079 SF)
Zoning code
ZO01
APN
49-02-17-106-009.000-800
UPID
US31-0997888
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$5.2M
RETAIL STORES
Est. value
$4.5M
RESTAURANT
Est. value
$4.3M
MEDICAL BUILDING
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
OFFICE BUILDING
RETAIL STORES
RESTAURANT
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1998
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
11
Buildings
2
Units
900
Lot
7.35 ac
Current owner
From public records · entity-resolved
Columbia Props Indianapolis
Individual
Mailing address
740 CTR VW BLVD, CRESTVIEW HILLS, KY 41017-5434
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2006
—
Columbia Props Indianapolis
—
Deed Of Trust
related
$52,725,000 · * Other Institutional Lenders
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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