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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Hotels
5301 Monroe Ave Evansville, IN 47715-4936
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-3239553
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1976
Construction
WOOD
Total area
10,587 SF
Lot
11.69 ac (509,119 SF)
APN
82-06-36-017-134.016-027
UPID
US31-3239553
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$597k
Blend (final)
Blend
$530k
Owner & transaction history
Village Abbey Court Apartments II L · 2 yrs held
Village Abbey Court Apartments II L
since 2024
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$840,000
+66.1%
Medical building
$515,000
+1.4%
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 Evansville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Evansville 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
$465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$505,000
Current use
RESTAURANT
$840,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$515,000
Change: +1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$465,000
Change: -8% · Conversion: Difficult
RETAIL STORES
$435,000
Change: -14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$430,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$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
$90,399
Tax year 2023
Assessed value
$4,162,400
Assessed 2023
Previous assessed
$4,162,400
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$763,700
Assessed improvement
$3,398,700
Land market value
$763,700
Improvement market value
$3,398,700
Total market value
$4,162,400
Applied tax rate
9.0000
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
1976
Construction
WOOD
Buildings
19
Stories
3
Units
16
Total area
10,587 SF
Lot
11.69 ac (509,119 SF)
APN
82-06-36-017-134.016-027
UPID
US31-3239553
Jurisdiction
VANDERBURGH
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
$505,000
RESTAURANT
Est. value
$840,000
MEDICAL BUILDING
Est. value
$515,000
AUTO REPAIR, GARAGE
Est. value
$465,000
RETAIL STORES
Est. value
$435,000
COMMERCIAL (GENERAL)
Est. value
$430,000
HOTEL/MOTEL Current
RESTAURANT
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (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
1976
Construction
WOOD
Stories
3
Buildings
19
Units
16
Lot
11.69 ac
Current owner
From public records · entity-resolved
Village Abbey Court Apartments II L
Individual
Mailing address
2195 N STATE HWY 83RD STE 14B, FRANKTOWN, CO 80116-9604
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 21, 2024
—
Village Abbey Court Apartments II L
Abbey Court Apartments III LLC
Special Warranty Deed
—
Jun 9, 2023
—
Village Abbey Court Apartments II L
Abbey Court Apartments III LLC
Special Warranty Deed
—
Dec 7, 2021
—
Abbey Court Apartments II LLC
Abbey Court Apartments LLC
Special Warranty Deed
$21,200,000 · Berkadia Commercial Mortgage LLC
Aug 12, 2019
—
Abbey Court Apartments LLC
—
Deed
related
$12,150,000 · Hunt Mortgage
Dec 28, 2012
—
Abbey Court Apartments LLC
Abbey Court LLC
Special Warranty Deed
$8,900,000 · Merchants Bank Of Indiana
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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