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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Hotels
602 Thompson Rd Indianapolis, IN 46227-1629
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US31-3446333
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1965
Construction
TYPE NOT SPECIFIED
Total area
61,018 SF
Lot
3.29 ac (143,095 SF)
APN
49-11-36-108-012.000-574
UPID
US31-3446333
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
-
Travelodge by Wyndham Indianapolis South Hotel & Motel Bed & Breakfast
-
FairBridge Inn Express Indianapolis South Hotel & Motel
-
Indy Lodge Hotel & Motel Vacation Rental
-
LOW LINE CUTZ Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$644k
Blend (final)
Blend
$670k
Owner & transaction history
Neerkamal Hotel LLC · 2 yrs held
Neerkamal Hotel LLC
since 2023
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 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
$695,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$11 / 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
$34,232
Tax year 2023
Assessed value
$1,225,200
Assessed 2023
Previous assessed
$1,225,200
+0.0% YoY
Effective rate
2.79%
On assessed value
Assessed land
$469,100
Assessed improvement
$756,100
Land market value
$469,100
Improvement market value
$756,100
Total market value
$1,225,200
Applied tax rate
574.0000
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
1965
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
YES
Stories
2
Units
290
Total area
61,018 SF
Lot
3.29 ac (143,095 SF)
APN
49-11-36-108-012.000-574
UPID
US31-3446333
Jurisdiction
MARION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1965
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
2
Units
290
Lot
3.29 ac
Current owner
From public records · entity-resolved
Neerkamal Hotel LLC
Entity
Mailing address
10515 DORAL CIR, FISHERS, IN 46037-8258
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2023
—
Neerkamal Hotel LLC
Jay Jalaram Indy LLC
Warranty Deed
$2,930,000 · Home Loan & Investment Bank Fs
Aug 4, 2023
—
Jay Jalaram Indy LLC
—
Deed
related
$2,930,000 · Home Loan & Investment Bank Fs
Jul 18, 2023
—
Jay Jalaram Indy LLC
Jiaan Hospitality INC
Warranty Deed
$2,930,000 · Home Loan & Investment Bank Fs
Jul 26, 2019
—
Jiann Hospitality INC
—
Trustees Deed
related
$75,000 · Indy Inn & Suites LLC
Apr 24, 2017
—
Jiaan Hospitality INC
Inn & Suites LLC
Deed
$1,680,000 · Home Loan & Investment Bank Fs
Oct 31, 2012
$788,509
Indy Inn & Suites LLC
Kenneth J Castrop
Grant Deed
$691,382 · Golden St Bk
Jun 27, 2008
—
Sean Brunske
Jai Bright Hotels Of Indianapolis
Warranty Deed
$1,120,000 · Golden State Bank
Sep 6, 2007
—
Jai Bright Hotels Of Indianapolis
Patel,girishkumar A
Warranty Deed
$764,000 · F & M 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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