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Red Carpet Inn Clarksville, IN 2016 Old Us-31 98 Room Hotel Jeffersonville, IN 47129 $1,900,000 ($19,388/Room) 5.99% Cap Rate
Investment Highlights
- Clarksville, Indiana has become One of the Stronger Redevelopment and Hospitality Growth Stories in the Louisville MSA
- River Ridge Commerce Center Hit Nearly $3.6 Billion in Economic Impact in 2025
- Southern Indiana Tourism's Feasibility Study for a Southern Indiana Conference Center Points to Future Group Demand and Hotel Development Opportunity
Executive Summary
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.
Property Facts
| Price | $1,900,000 | Lot Size | 2.25 AC |
| Price Per Room | $19,388 | Building Size | 22,681 SF |
| Sale Type | Investment | No. Rooms | 98 |
| Cap Rate | 5.99% | No. Stories | 3 |
| Property Type | Hospitality | Year Built | 1984 |
| Property Subtype | Hotel | Parking Ratio | 3.84/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Zoning | COM - COM | ||
| Price | $1,900,000 |
| Price Per Room | $19,388 |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.25 AC |
| Building Size | 22,681 SF |
| No. Rooms | 98 |
| No. Stories | 3 |
| Year Built | 1984 |
| Parking Ratio | 3.84/1,000 SF |
| Corridor | Exterior |
| Zoning | COM - COM |
Amenities
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Guest Room | 98 | $76.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 10-19-00-800-007.000-010 | Improvements Assessment | $617,600 |
| Land Assessment | $449,800 | Total Assessment | $1,067,400 |
Property Taxes
Parcel Number
10-19-00-800-007.000-010
Land Assessment
$449,800
Improvements Assessment
$617,600
Total Assessment
$1,067,400
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