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Property profile & analytics
OFF-MARKET
Estimated value
$760,000
Hotels
3934 Frontage Rd, Michigan City, IN 46360-9264
Entity Owned
1-yr Hold
Free & Clear
Property ID
US31-2224586
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1993
Construction
WOOD
Total area
15,114 SF
Lot
0.9 ac (39,204 SF)
APN
46-05-17-200-038.000-073
UPID
US31-2224586
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
-
Dunes Inn Michigan City Hotel Hotel & Motel
-
Milan Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$760k
Owner & transaction history
Pds Michigan City INC · 1 yrs held
Pds Michigan City INC
since 2024
Last sale
$760,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+147.6%
Restaurant
$1.1M
+132.2%
Retail stores
$1.1M
+120.3%
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 Michigan City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Michigan City 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
$765,000
ML approach
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$485,000
Current use
AUTO REPAIR, GARAGE
$1,200,000
Change: +148% · Conversion: Difficult
RESTAURANT
$1,125,000
Change: +132% · Conversion: Difficult
RETAIL STORES
$1,070,000
Change: +120% · Conversion: Difficult
COMMERCIAL (GENERAL)
$960,000
Change: +98% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$920,000
Change: +89% · Conversion: Difficult
MEDICAL BUILDING
$810,000
Change: +67% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$525,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$760k
Range $684k – $836k · ±10% · vs last sale $760k (Mar 9 2021)
Last sale anchor
$760k
Mar 9 2021
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
$50 / 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
$5,749
Tax year 2023
Assessed value
$289,000
Assessed 2023
Previous assessed
$289,000
+0.0% YoY
Effective rate
1.99%
On assessed value
Assessed land
$57,200
Assessed improvement
$231,800
Land market value
$57,200
Improvement market value
$231,800
Total market value
$289,000
Applied tax rate
10.0000
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
1993
Construction
WOOD
Heating
NONE
Stories
2
Units
49
Total area
15,114 SF
Lot
0.9 ac (39,204 SF)
APN
46-05-17-200-038.000-073
UPID
US31-2224586
Jurisdiction
LA PORTE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$485,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$960,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$920,000
MEDICAL BUILDING
Est. value
$810,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$525,000
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
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
1993
Construction
WOOD
Heating
NONE
Stories
2
Units
49
Lot
0.9 ac
Current owner
From public records · entity-resolved
Pds Michigan City INC
Entity
Free & Clear · 1 yrs held
Mailing address
3934 N FRONTAGE RD, MICHIGAN CITY, IN 46360-9264
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2024
—
Pds Michigan City INC
Supreme Restaurant Holdings LLC
Quitclaim Deed
related
—
Mar 9, 2021
$760,000
Pds Michigan City INC
Aditri LLC
Warranty Deed
$640,000 · Home Loan & Investment Bank Fs
Aug 27, 2020
—
Aditri LLC
Mmi Of Michigan City LLC
Corporation Deed
—
Nov 30, 2012
$316,250
Mmi Of Michigan City LLC
Upendra A Patel
Sheriffs 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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