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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Hotels
7740 Corinne Dr Hammond, IN 46323-3128
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-0747370
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1997
Construction
WOOD
Total area
55,656 SF
Lot
1.99 ac (86,684 SF)
Zoning code
R3
APN
45-07-16-326-006.000-023
UPID
US31-0747370
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
-
7740 Corinne Drive Parking Parking Lot & Garage
-
Residence Inn Chicago Southeast/Hammond, IN Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.05M
Owner & transaction history
Jvri Hospitality LLC · 4 yrs held
Jvri Hospitality LLC
since 2021
4 recorded transactions
Zoning & alternative use
R3 · Hammond, 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 Hammond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hammond 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
$1,095,000
Current use
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±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
$19 / 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
$253,557
Tax year 2022
Assessed value
$6,985,600
Assessed 2023
Previous assessed
$6,890,500
+1.4% YoY
Effective rate
3.63%
On assessed value
Assessed land
$1,723,800
Assessed improvement
$5,261,800
Land market value
$1,723,800
Improvement market value
$5,261,800
Total market value
$6,985,600
Applied tax rate
23.0000
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
1997
Construction
WOOD
Heating
NONE
Stories
3
Units
78
Total area
55,656 SF
Lot
1.99 ac (86,684 SF)
Zoning code
R3
APN
45-07-16-326-006.000-023
UPID
US31-0747370
Jurisdiction
LAKE
Metro division
GARY, IN METROPOLITAN DIVISION
Zoning & alternative use
R3 · Hammond, IN
Zoning R3 · permitted uses
R3 · Hammond, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hammond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.1M
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
1997
Construction
WOOD
Heating
NONE
Stories
3
Units
78
Lot
1.99 ac
Current owner
From public records · entity-resolved
Jvri Hospitality LLC
Entity
Mailing address
121 S DR MARTIN LUTHER KING JR BLVD, SOUTH BEND, IN 46601-1901
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 21, 2025
—
Jvri Hospitality LLC
—
Deed
related
$5,000,000 · Orange Capital INC
Jul 18, 2023
—
Jvri Hospitality LLC
—
Deed
related
$2,500,000 · Sturgis Bank & Trust Co
Aug 3, 2021
—
Jvri Hospitality LLC
Rljh R Hammond LLC
Special Warranty Deed
$6,500,000 · Sturgis Bank & Trust Co
—
—
Rlj II-r Hammond LLC
—
Deed Of Trust
related
$6,992,000 · Bank/america NA 2006-hq10 (te)
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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