Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Hotels
7220 Woodland Dr Indianapolis, IN 46278-1734
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US31-0743198
Property summary
AI-generated overview
This four-story, 121-key Best Western Plus hotel in Indianapolis, Indiana, presents a compelling investment opportunity. Built in 1990, the property boasts a prime location ten miles northwest of downtown, directly off I-465 near the I-65 interchange, placing it within easy reach of major attractions like Lucas Oil Stadium and the Indianapolis Motor Speedway. The hotel benefits from established, attractive revenues and cash flow, projected to reach $2,700,000 in 2024, representing a year-to-date increase of $300,000. Currently under absentee ownership, the property offers significant upside potential for an owner-operator. Minimal capital expenditures are anticipated upon transfer, and the property is likely eligible for an automatic transfer for existing Best Western members. The asking price is $8,999,999. This presents a rare chance to acquire a renovated hotel in a desirable market with strong revenue streams and substantial growth opportunities. The property is located at 7220 Woodland Dr, Indianapolis, IN 46278. The hotel's 121 rooms are housed within a single building.
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1989
Construction
TYPE NOT SPECIFIED
Total area
31,166 SF
Lot
2.33 ac (101,494 SF)
Zoning code
ZO01
APN
49-04-26-120-006.000-600
UPID
US31-0743198
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
-
Best Western Plus Indianapolis Nw Hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$420k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$635k
Blend (final)
Blend
$525k
Owner & transaction history
Indy Northwest Hotel
Indy Northwest Hotel
1 recorded transaction
Zoning & alternative use
ZO01 · Indianapolis, IN
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
$420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$710,000
Current use
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$17 / 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
$92,809
Tax year 2023
Assessed value
$3,978,600
Assessed 2023
Previous assessed
$3,978,600
+0.0% YoY
Effective rate
2.33%
On assessed value
Assessed land
$1,228,100
Assessed improvement
$2,750,500
Land market value
$1,228,100
Improvement market value
$2,750,500
Total market value
$3,978,600
Applied tax rate
600.0000
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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
248
Total area
31,166 SF
Lot
2.33 ac (101,494 SF)
Zoning code
ZO01
APN
49-04-26-120-006.000-600
UPID
US31-0743198
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$710,000
HOTEL/MOTEL 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
1989
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
4
Units
248
Lot
2.33 ac
Current owner
From public records · entity-resolved
Indy Northwest Hotel
Individual
Mailing address
711 CROCKETT CT, WINCHESTER, KY 40391-2953
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Indy Northwest Hotel
—
Deed Of Trust
related
$6,500,000 · Principal Commercial Funding
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 7220 Woodland Dr?
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.
