2016 Old Us-31 - Hospitality FOR SALE


Jeffersonville, IN 47129
$1,900,000 USD
502-329-1111
2016 Old Us-31, Jeffersonville, IN for Sale
$1,900,000 USD
Hospitality - FOR SALE
1/3
null | 5.99% Cap Rate

2016 Old Us-31
Jeffersonville, IN 47129


HIGHLIGHTS

  • Clarksville, Indiana has become One of the Stronger Redevelopment and Hospitality Growth Stories in the Louisville MSA
  • Southern Indiana Tourism's Feasibility Study for a Southern Indiana Conference Center Points to Future Group Demand and Hotel Development Opportunity
  • River Ridge Commerce Center Hit Nearly $3.6 Billion in Economic Impact in 2025

OVERVIEW

The Red Carpet Inn in Clarksville, Indiana offers a compelling value-add or repositioning opportunity at ~$17,347/unit — well below replacement cost — on a 2.25-acre lot in one of Southern Indiana's most active development corridors. With River Ridge Commerce Center supporting 13,300-plus jobs nearby, a $226 Million mixed-use redevelopment underway in South Clarksville, and comparable hotels like the Hampton Inn on Broadway recently trading and undergoing full renovation, this 98-unit, 1984-built asset sits at the intersection of strong corporate demand and a market primed for hospitality upgrades.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$84 USD /SF

# OF ROOMS

98

PRICE/ROOM

$19,388 {currency}

CAP RATE

5.99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Carpet Inn Clarksville, IN

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1984

PARKING SPACES

87

LAND DETAILS

LAND ACRES

2.25 AC

LAND SF

98,010 SF

ZONING

COM

APN/PARCEL ID

10-19-00-800-007.000-010

ASK ABOUT THIS PROPERTY

Robert SmithMarcus & MillichapMore Info
502-329-1111

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Robert SmithMarcus & MillichapMore Info
502-329-1111

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.