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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Hotels
8801 Madison Ave Indianapolis, IN 46227-6460
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US31-1103435
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
2015
Construction
WOOD
Total area
21,208 SF
Lot
30.75 ac (1,339,644 SF)
Zoning code
ZO01
APN
49-15-20-128-004.000-500
UPID
US31-1103435
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
-
Club At Crestwood Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$665k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$620k
Owner & transaction history
Cws Assisted Living LLC · 8 yrs held
Cws Assisted Living LLC
since 2018
7 recorded transactions
Zoning & alternative use
ZO01 · Indianapolis, IN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$960,000
+98.9%
Medical building
$630,000
+30.0%
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 Indianapolis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indianapolis 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%
$720,000
6.5%
$665,000
7%
$615,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$485,000
Current use
RETAIL STORES
$960,000
Change: +99% · Conversion: Difficult
MEDICAL BUILDING
$630,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$29 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$554,587
Tax year 2023
Assessed value
$21,584,300
Assessed 2023
Previous assessed
$21,584,300
+0.0% YoY
Effective rate
2.57%
On assessed value
Assessed land
$2,597,200
Assessed improvement
$18,987,100
Land market value
$2,597,200
Improvement market value
$18,987,100
Total market value
$21,584,300
Applied tax rate
500.0000
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
2015
Construction
WOOD
Heating
NONE
Buildings
3
Stories
1
Units
220
Total area
21,208 SF
Lot
30.75 ac (1,339,644 SF)
Zoning code
ZO01
APN
49-15-20-128-004.000-500
UPID
US31-1103435
Jurisdiction
MARION
Zoning & alternative use
ZO01 · Indianapolis, IN
Zoning ZO01 · permitted uses
ZO01 · Indianapolis, IN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indianapolis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$485,000
RETAIL STORES
Est. value
$960,000
MEDICAL BUILDING
Est. value
$630,000
HOTEL/MOTEL Current
RETAIL STORES
MEDICAL BUILDING
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
2015
Construction
WOOD
Heating
NONE
Stories
1
Buildings
3
Units
220
Lot
30.75 ac
Current owner
From public records · entity-resolved
Cws Assisted Living LLC
Entity
Mailing address
1398 N SHADELAND AVE, INDIANAPOLIS, IN 46219-3652
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Jan 5, 2026
—
Crestwood Village South LLC
—
Deed
related
$18,000,000 · Ubs Ag New York Branch
May 31, 2018
—
Cws Assisted Living LLC
Crestwood Vlg S Apts LLC
Quit Claim Deed
related
$15,000,000 · Miscellaneous Ins Co
Jul 10, 2015
—
Crestwood Village South Apartm
Justus,walter G
Grant Deed
—
Dec 30, 2009
—
Walter G Justus
Justus,walter G
Quit Claim Deed
related
—
—
—
Walter G Justus
—
Deed Of Trust
related
$11,100,000 · Star Financial Bank
—
—
Walter G Justus
—
Loan Modification
related
$7,781,896 · Star Financial Bank
—
—
Crestwood Vlg S Apts LLC
—
Deed Of Trust
related
$15,000,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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