New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,360,000
Hotels
6200 Us Hwy 20, Portage, IN 46368-1319
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0973357
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1969
Construction
TYPE NOT SPECIFIED
Total area
65,772 SF
Lot
2.75 ac (119,790 SF)
APN
64-05-01-328-001.000-016
UPID
US31-0973357
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.97M
Blend (final)
Blend
$3.36M
Owner & transaction history
Jay Dadaveer Portage LLC · 1 yrs held
Jay Dadaveer Portage LLC
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.2M
+53.0%
Retail stores
$4.0M
+17.5%
Medical building
$3.9M
+15.4%
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 Portage submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Portage 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
$3,375,000
Current use
RESTAURANT
$5,165,000
Change: +53% · Conversion: Difficult
RETAIL STORES
$3,970,000
Change: +18% · Conversion: Difficult
MEDICAL BUILDING
$3,895,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,855,000
Change: +14% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,250,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,845,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.36M
Range $3.02M – $3.70M · ±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
$51 / 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
$140,700
Tax year 2023
Assessed value
$3,171,500
Assessed 2023
Previous assessed
$3,171,500
+0.0% YoY
Effective rate
4.44%
On assessed value
Assessed land
$192,500
Assessed improvement
$2,979,000
Land market value
$192,500
Improvement market value
$2,979,000
Total market value
$3,171,500
Applied tax rate
8.0000
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
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
100
Total area
65,772 SF
Lot
2.75 ac (119,790 SF)
APN
64-05-01-328-001.000-016
UPID
US31-0973357
Jurisdiction
PORTER
Metro division
GARY, IN METROPOLITAN DIVISION
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
$3.4M
RESTAURANT
Est. value
$5.2M
RETAIL STORES
Est. value
$4.0M
MEDICAL BUILDING
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.9M
WAREHOUSE, STORAGE
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
HOTEL/MOTEL Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1969
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
100
Lot
2.75 ac
Current owner
From public records · entity-resolved
Jay Dadaveer Portage LLC
Entity
Mailing address
2754 LINCOLNWAY E, MISHAWAKA, IN 46544-3536
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2025
—
Jay Dadveer Portage LLC
—
Deed
related
$600,000 · Millennium Bank
Apr 8, 2025
$4,979,000
Jay Dadaveer Portage LLC
Shree Ganesh LLC
Deed
related
—
Aug 2, 2022
—
Ark Capital LLC
Shree Ganesh LLC
Warranty Deed
—
Jan 30, 2020
—
Shree Ganesh LLC
—
Deed
related
$500,000 · Millennial Bk
Sep 6, 2016
—
Shree Ganesh LLC
—
Deed
related
$1,299,900 · Itria Ventures LLC
Aug 28, 2012
—
Shree Ganesh LLC
Henry Walter Holdings LLC
Grant Deed
$4,200,000 · Investors Guaranty LLC
Apr 16, 2012
—
Henry Walter Holdings LLC
Norstar LLC
Warranty Deed
—
Jan 13, 2010
—
Sai Kripa LLC
Norstar LLC
Quit Claim Deed
related
—
Dec 18, 2008
—
Norstar LLC
—
Trustees Deed
related
$1,950,000 · Centier Bank
Mar 19, 2007
—
Norstar LLC
Indiana Acquisition Group LLC
Grant Deed
$900,000 · Wilber National Bank
—
—
Sai Kripa LLC
—
Deed Of Trust
related
$1,502,608 · Centier Bank
—
—
Norstar LLC
—
Deed Of Trust
related
$3,409,740 · Centier Bank
—
—
Shree Ganesh LLC
—
Deed Of Trust
related
$1,299,900 · Itria Ventures LLC
—
—
Shree Ganesh LLC
—
Deed Of Trust
related
$500,000 · Millennial Bk
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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