Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,900,000
Hotels
401 Kieffer Rd Michigan City, IN 46360-9579
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US31-0455915
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2020
Construction
TYPE NOT SPECIFIED
Total area
58,932 SF
Lot
3.25 ac (141,570 SF)
APN
46-05-08-477-040.000-009
UPID
US31-0455915
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
-
Holiday Inn Express & Suites Michigan City, an IHG Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.88M
Blend (final)
Blend
$2.90M
Owner & transaction history
Michigan City Hotels LLC · 8 yrs held
Michigan City Hotels LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.7M
+147.6%
Restaurant
$4.4M
+132.2%
Retail stores
$4.2M
+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
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
$1,890,000
Current use
AUTO REPAIR, GARAGE
$4,680,000
Change: +148% · Conversion: Difficult
RESTAURANT
$4,390,000
Change: +132% · Conversion: Difficult
RETAIL STORES
$4,165,000
Change: +120% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,745,000
Change: +98% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,580,000
Change: +89% · Conversion: Difficult
MEDICAL BUILDING
$3,155,000
Change: +67% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,055,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$2.90M
Range $2.61M – $3.19M · ±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
$49 / 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
$58,057
Tax year 2023
Assessed value
$6,798,600
Assessed 2023
Previous assessed
$6,798,600
+0.0% YoY
Effective rate
0.85%
On assessed value
Assessed land
$276,300
Assessed improvement
$6,522,300
Land market value
$276,300
Improvement market value
$6,522,300
Total market value
$6,798,600
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
2020
Construction
TYPE NOT SPECIFIED
Stories
4
Units
90
Total area
58,932 SF
Lot
3.25 ac (141,570 SF)
APN
46-05-08-477-040.000-009
UPID
US31-0455915
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
$1.9M
AUTO REPAIR, GARAGE
Est. value
$4.7M
RESTAURANT
Est. value
$4.4M
RETAIL STORES
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
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
2020
Construction
TYPE NOT SPECIFIED
Stories
4
Units
90
Lot
3.25 ac
Current owner
From public records · entity-resolved
Michigan City Hotels LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2369 FRANKLIN RD, BLOOMFIELD HILLS, MI 48302-0333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Aug 1, 2018
—
Michigan City Hotels LLC
Trac Development LLC
Special Warranty Deed
—
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 401 Kieffer Rd?
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.
