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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Hotels
8353 Georgia St Merrillville, IN 46410-6290
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US31-0635371
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1995
Construction
WOOD
Total area
31,602 SF
Lot
2.09 ac (91,040 SF)
APN
45-12-22-380-002.000-030
UPID
US31-0635371
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
-
Hampton Inn Merrillville Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$940k
Blend (final)
Blend
$695k
Owner & transaction history
Shri Balaganapati LLC · 1 yrs held
Shri Balaganapati LLC
since 2025
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.1M
+94.5%
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 Merrillville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrillville 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
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$565,000
Current use
WAREHOUSE, STORAGE
$1,095,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$22 / 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
$162,315
Tax year 2022
Assessed value
$5,204,000
Assessed 2023
Previous assessed
$5,190,800
+0.3% YoY
Effective rate
3.12%
On assessed value
Assessed land
$1,701,100
Assessed improvement
$3,502,900
Land market value
$1,701,100
Improvement market value
$3,502,900
Total market value
$5,204,000
Applied tax rate
30.0000
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
1995
Construction
WOOD
Heating
NONE
Stories
3
Units
72
Total area
31,602 SF
Lot
2.09 ac (91,040 SF)
APN
45-12-22-380-002.000-030
UPID
US31-0635371
Jurisdiction
LAKE
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
$565,000
WAREHOUSE, STORAGE
Est. value
$1.1M
HOTEL/MOTEL Current
WAREHOUSE, STORAGE
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
1995
Construction
WOOD
Heating
NONE
Stories
3
Units
72
Lot
2.09 ac
Current owner
From public records · entity-resolved
Shri Balaganapati LLC
Entity
Mailing address
2211 YORK RD STE #222, OAK BROOK, IL 60523-4024
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2025
$5,098,500
Shri Balaganapati LLC
Cs17 Indiana Hotels LLC
Special Warranty Deed
$7,500,000 · Centier Bank
Dec 15, 2017
—
Ssh In H Property LLC
—
Grant Deed
related
$240,000,000 · Column Fin'l
Mar 16, 2015
—
Ssh In H Property LLC
Rlj II Ha Merrillville LLC
Special Warranty Deed
—
May 31, 2011
—
Rlj II-ha Merrillville LLC
—
Deed Of Trust
related
$504,548,870 · Us Bk NA Series 2006-c27 (te)
Aug 1, 2006
—
Rlj II-ha Merrillville LLC
Hamhim LLC
Special Warranty Deed
—
Feb 18, 2004
—
Hamhim LLC
Msw Hotels LLC
Warranty Deed
related
—
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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