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Property profile & analytics
OFF-MARKET
Estimated value
$785,000
Commercial real estate
401 State St, Hamel, IL 62046-1088
Individually Owned
2-yr Hold
Free & Clear
Property ID
US28-1012879
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Total area
5,100 SF
Lot
7.31 ac (318,424 SF)
APN
11-1-10-14-00-000-011
UPID
US28-1012879
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
-
Innkeeper Motel Hotel & Motel
-
The Other Place On The Hill Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
$765k
Comparable Approach
Comparable
$784k
Blend (final)
Blend
$785k
Owner & transaction history
Karen E Wiesemeyer · 2 yrs held
Karen E Wiesemeyer
since 2024
7 recorded transactions
Zoning & alternative use
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 Hamel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hamel 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
$665,000
ML approach
$670,000
CAP Approach
CAP Return
Estimation
6%
$830,000
6.5%
$765,000
7%
$710,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$545,000
Current use
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$154 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$9,167
Tax year 2022
Assessed value
$130,670
Assessed 2022
Previous assessed
$130,670
+0.0% YoY
Effective rate
7.02%
On assessed value
Assessed land
$24,930
Assessed improvement
$105,740
Land market value
$74,865
Improvement market value
$317,538
Total market value
$392,403
Applied tax rate
67.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1980
Heating
NONE
Total area
5,100 SF
Lot
7.31 ac (318,424 SF)
APN
11-1-10-14-00-000-011
UPID
US28-1012879
Jurisdiction
MADISON
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
COMMERCIAL (GENERAL) Current
Est. value
$545,000
COMMERCIAL (GENERAL) Current
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
1980
Heating
NONE
Lot
7.31 ac
Current owner
From public records · entity-resolved
Karen E Wiesemeyer
Individual
Free & Clear · 2 yrs held
Mailing address
401 E STATE ST, HAMEL, IL 62046-1088
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2024
—
Karen E Wiesemeyer
Coleman E Weissman
Affidavit
—
Jun 30, 2022
$600,000
Destiny Hospitality LLC
Sangm Corp
Warranty Deed
$565,000 · Incrediblebank
Sep 7, 2012
—
Sangm Corp
Bhakta,tushar
Quit Claim Deed
—
Sep 7, 2012
$250,000
Hal Gitcho Land Trust 1
Sangm Corp INC
Warranty Deed
—
May 3, 2006
—
Manisha Bhakta
Bhakta,naran
Quit Claim Deed
related
—
Nov 5, 1998
$550,000
Naran Bhakta
Knobloch,martin T & Victoria L
Grant Deed
—
—
—
Karen E Wiesemeyer
—
Loan Modification
related
$100,977 · First Nat'l Bk/staunton
—
—
Hal Gitcho Land Trust
—
Deed Of Trust
related
$155,000 · First Collinsville Bank
—
—
Manisha Bhakta
—
Deed Of Trust
related
$137,500 · Morton Community Bank
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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