Listed by Marcus & Millichap - Louisville
$1,900,000
Red Carpet Inn- Clarksville IN
Details
Property Type Hospitality
Sub Type Motel
Units 98
Year Built 1984
Buildings 1
Stories 3
Acreage 4.990
Zoning C1
Hospitality | 174 Keys | $10,920/key
Marketing description
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+ jobs nearby, a $226M 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.
Investment highlights
- Clark/Floyd counties topped $550M in visitor spending in 2023, up 3 years running — strong occupancy demand fundamentals.
- 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 $3.6B in economic impact in 2025, with onsite employment surpassing 13,300 jobs — a steady source of business travel demand for area hotels.
Listing Contacts
Listed by Marcus & Millichap - Louisville
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