8110 Shadeland Ave Indianapolis, IN 46250-2045
Property profile & analytics
8110 Shadeland Ave Indianapolis, IN 46250-2045
- Hotels
- 13,344 SF
- 1.75 lot acres
Property ID
US31-1120996
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Red Roof Inn Indianapolis - Castleton / Hotel & Motel
Property Details for 8110 Shadeland Ave
- Year built
- 1993
- Construction
- WOOD
- Lot size
- 1.75 lot acres
- Property size
- 13,344 SF
- Zone code
- ZO01
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 49-02-23-117-002.000-400
- APU
- 490223117002000400
Description
This fee-simple, 84-key Red Roof Inn motel presents a compelling value-add investment opportunity in Indianapolis, Indiana. Situated on a 2.054-acre lot at 8110 Shadeland Ave, 46250, this two-story, exterior-corridor property boasts 31,916 square feet and offers significant upside potential. Built in 1983 and 1993 with renovations completed in 2016, the property benefits from its prime location near Interstate 69 and I-465, providing easy access to downtown Indianapolis, Fishers, and Carmel. The motel's proximity to major employers like Roche Diagnostics Headquarters and the Ruoff Music Center, along with the nearby Castleton Square Mall and numerous restaurants and retail shops, ensures a strong demand base. Currently operating at 50.23% occupancy, the property generates a NOI of $347,000, with a pro-forma NOI projected at $515,000, representing a pro-forma cap rate of 14.11%. The asking price is $3,650,000 ($114.36/sq ft and $43,452.38/key). The property is adjacent to Community Heart and Vascular Hospital and MD Anderson Center, further enhancing its strategic positioning. The existing 84 keys offer room for expansion to 91 keys, presenting an additional avenue for revenue growth. This is a rare opportunity to acquire a national franchise motel in a thriving market with substantial room for improvement.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Marion
- State
- Indiana
- Longitude
- -86.0466
- Latitude
- 39.9027
- CBSA code
- 26900
- CBSA name
- INDIANAPOLIS-CARMEL-ANDERSON, IN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$38,645
$590,300
$990,000
$1,580,300
-
$590,300
$990,000
$1,580,300
