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801 E Main St
Madison, IN 47250
The Victoria Inn · Hospitality Property For Sale
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19 Rooms
PROPERTY FACTS
| Property Type | Hospitality | No. Rooms | 19 |
| Property Subtype | Hotel | No. Stories | 3 |
| Building Class | C | Year Built/Renovated | 1930/1980 |
| Lot Size | 0.40 AC | Parking Ratio | 2.5/1,000 SF |
| Construction Status | Converted | Corridor | Interior |
| Building Size | 9,125 SF | ||
| Zoning | General Business | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.40 AC |
| Construction Status | Converted |
| Building Size | 9,125 SF |
| No. Rooms | 19 |
| No. Stories | 3 |
| Year Built/Renovated | 1930/1980 |
| Parking Ratio | 2.5/1,000 SF |
| Corridor | Interior |
| Zoning | General Business |
ABOUT 801 E MAIN ST , MADISON, IN 47250
HOTEL into APARTMENTS Flip Opportunity Up for sale is a 20 room hotel in Madison Indiana's historic district to be turned into 10 apartment units. This is the first thing you see once the new gateway bridge is completed next summer. LOCATION, LOCATION, LOCATION! True Costs: Clear Building Deed $395,000 Remodel Cost of $200,000 Option #1: Fix and Flip with a 10% CAP Rate $895,000 (Figured on a VERY LOW rent rate!) Option #2: Keep it, Yearly Rental Income of $100,000! If I still have the hotel this coming spring I will complete the project. Selling due to a huge project I'm working on now. Will offer a seller's commission but not interested in listing it with a realtor. Also includes the domain name "www.OldMadisonInn.com" with sale. See the website for more pictures. I'm happy to show you the building but I am very busy with other projects so please be serious before calling. You are welcome to peek in the windows just be aware the Madison Police are patrolling the building and may ask you what you're doing. See all the pictures at OldMadisonInn.com
PROPERTY TAXES
| Parcel Number | 39-13-02-000-004-000-007 | Improvements Assessment | $554,900 |
| Land Assessment | $22,900 | Total Assessment | $577,800 |
PROPERTY TAXES
