Riverboat Inn and Suites

Hospitality for Sale
Catylist Listing ID: 30569676
Property Subtypes: Hotel, Inn, Vacation Rental(s)
Number of Units: 59 Units
Building Size (RSF): 28,276 SF
Gross Building Area: See Agent
Gross Land Area: 5.08 SF
Sale Price: $2,950,000
Unit Price: $50,000 Per Unit
Property Use Type: Business
Building Name: Riverboat Inn, Pilot House, Paddlewheel, Captain's Quarters
Name of Establishment: Riverboat Inn and Suites
Sale Terms: Cash to Seller
Cap Rate: 7.8%
Last Updated: 4/16/2021

Overview / Comments

The Riverboat Inn and Suites is a 2-story building overlooking the river with 21 rooms and a lounge and is currently the only riverfront hotel property in Madison. With expansive views of the river and a large outdoor venue of patios, enclosed heated porches and grassy play areas, this makes for a great event venue. On the same property is the “Pilot House” with an additional 5 rooms and outdoor pool. All rooms have 2 beds and are individually decorated. Rooms feature flat screen TVs, pillowtop beds, fireplaces, hardwood floors, mini refrigerator, microwave and wi-fi.
Included in the Riverboat Inn (built 1956) and Suites and within walking distance of the main building are the Paddlewheel (built 1964) and Captain’s Quarters (built 1971). The Paddlewheel features 24 1-bedroom rooms, exterior corridor and an outdoor patio area. The Captain’s Quarters has 9 condos with an interior corridor – (1) 1BR/1BA, (2) 2BR/1BA, (4) 2BR/1.5BA, (1) 3BR/1BA and (1) 4BR/2.5BA.
Included in the sale of the property is a FULL Bar liquor license, 7 passenger shuttle van and 6 passenger golf cart.
The festivities of Madison are almost weekly with the largest events including Chautauqua for the Arts, Madison Regatta, Madison Ribberfest BBQ and Blues, Soup, Stew, Chili and Brew, Candlelight Tours and many more. 10 minutes from 2 Public Golf Courses and Hospital, 30 minutes from Belterra Casino and Resort and 50 minutes from CVG and SDF Airports.

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Additional Details

Nearest MSA: Madison
County: Jefferson
Tax ID/APN: 391301223044000007
Zoning: GENERAL BUSINESS
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Casino, Other
Property Visibility: Excellent
Largest Nearby Street: Vaughn Dr, Ferry St
Feet of Frontage: 645
Highway Access: 421 and 62
Airports: SDF - 59 miles, CVG - 70 miles
Total Number of Buildings: 4
Number of Stories: 2
Property Condition: Good
Year Built: 1956
Roof Type: Gable
Construction/Siding: Brick/Aluminum Siding
Water Recreation: Outdoor Pool
Total Parking Spaces: 70
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central, Wall Units
Air Conditioning: Window Unit, Other
Internet Access: Other
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 011-02802-00 FRAC. 1-3-10 4.2391Acres (3.568 and Lots 23-27 and Lots 18-22) 11-106-3 & 4 011-04225-00 JOHN SHEETS ADD PT LOTS 31-38 11-138-2.1 215 FERRY 011-04223-00 PT LOTS 5-9 M&W PT LOTS 33-42 & Pt Lot 38 J SHEET 219 Ferry St

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,331 11,027 18,138
Median Age: 47.18 42.66 41.79
Households: 694 4,884 7,574

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