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Property profile & analytics
FOR SALE
Hotels
8420 Indiana St Merrillville, IN 46410
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US31-1690095
For Sale
1 / 6
$1,420,000
8420 Indiana St, Merrillville, IN 46410
View Listing →
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2017
Construction
WOOD
Total area
57,082 SF
Lot
1.87 ac (81,631 SF)
APN
45-12-22-477-008.000-030
UPID
US31-1690095
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$785k
Owner & transaction history
Efi Indiana LLC · 6 yrs held
Efi Indiana LLC
since 2019
7 recorded transactions
Zoning & alternative use
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,020,000
Current use
Blend value · Realmo final
$785k
Range $707k – $864k · ±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
$14 / 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
$128,202
Tax year 2022
Assessed value
$6,337,300
Assessed 2023
Previous assessed
$6,137,100
+3.3% YoY
Effective rate
2.02%
On assessed value
Assessed land
$708,000
Assessed improvement
$5,629,300
Land market value
$708,000
Improvement market value
$5,629,300
Total market value
$6,337,300
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
For Sale
Year built
2017
Construction
WOOD
Heating
NONE
Stories
4
Units
91
Total area
57,082 SF
Lot
1.87 ac (81,631 SF)
APN
45-12-22-477-008.000-030
UPID
US31-1690095
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
$1.0M
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
2017
Construction
WOOD
Heating
NONE
Stories
4
Units
91
Lot
1.87 ac
Current owner
From public records · entity-resolved
Efi Indiana LLC
Entity
Mailing address
10057 NEW DEVON ST, MUNSTER, IN 46321-9157
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 3, 2020
—
Efi Indiana LLC
—
Deed
related
$388,000 · Private Individual
Dec 9, 2019
—
Efi Indiana LLC
Indiana Land Trust Company
Deed
$468,450 · Centier Bank
Sep 10, 2019
—
Hoosier Hotel Prop II LLC
—
Grant Deed
related
$10,500,000 · Bank Of America
Nov 1, 2018
—
Hoosier Hotel Prop II LLC
—
Deed
related
$6,726,443 · Centier Bk
May 2, 2017
—
Hoosier Hotel Props II LLC
—
Deed
related
$6,559,000 · Centier Bk
Oct 17, 2016
—
Hoosier Hotel Properties II Ll
—
Grant Deed
related
$5,559,000 · Centier Bk
Nov 25, 2013
—
Hoosier Hotel Properties II
Shah,chinu R & Paresh
Quit Claim Deed
related
—
—
—
Hoosier Hotel Prop II LLC
—
Deed Of Trust
related
$6,726,443 · Centier Bk
—
—
Efi Indiana LLC
—
Deed Of Trust
related
$388,000 · Private Individual
—
—
Trust 6328
—
Deed Of Trust
related
$449,900 · Centier Bank
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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