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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Hotels
8375 Georgia St Merrillville, IN 46410-6290
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US31-0714826
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1995
Construction
WOOD
Total area
30,906 SF
Lot
1.87 ac (81,457 SF)
APN
45-12-22-380-003.000-030
UPID
US31-0714826
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
-
Baymont by Wyndham Merrillville Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$660k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$707k
Blend (final)
Blend
$685k
Owner & transaction history
Avner Hospitality LLC · 8 yrs held
Avner Hospitality LLC
since 2018
7 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
$660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$550,000
Current use
WAREHOUSE, STORAGE
$1,075,000
Change: +94% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$71,965
Tax year 2022
Assessed value
$3,445,000
Assessed 2023
Previous assessed
$3,445,000
+0.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$1,552,300
Assessed improvement
$1,892,700
Land market value
$1,552,300
Improvement market value
$1,892,700
Total market value
$3,445,000
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
62
Total area
30,906 SF
Lot
1.87 ac (81,457 SF)
APN
45-12-22-380-003.000-030
UPID
US31-0714826
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
$550,000
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
62
Lot
1.87 ac
Current owner
From public records · entity-resolved
Avner Hospitality LLC
Entity
Mailing address
8375 GEORGIA ST, MERRILLVILLE, IN 46410-6290
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2022
—
Avner Hospitality LLC
—
Deed
related
$1,412,200 · United States Small Business Admin
Jun 14, 2018
—
Avner Hospitality LLC
Merillvile Lodging INC
Special Warranty Deed
$3,645,000 · Northeast Bank
Aug 3, 2016
—
Merrillville Lodging INC
—
Deed
related
$1,995,000 · First Technology Federal Cu
Mar 7, 2016
$2,850,000
Merrillville Lodging INC
Rlj II-holx Merrillville LLC
Grant Deed
—
May 31, 2011
—
Rlj II-holx Merrillville LLC
—
Deed Of Trust
related
$504,548,870 · Us Bk NA Series 2006-c27 (te)
Aug 1, 2006
—
Rlj II Holx Merrillville LLC
Hamhim LLC
Special Warranty Deed
$504,548,870 · Wachovia Bank NA
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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