906 E 1st Street Madison, IN
$ 2,900,000
Property Attributes
  • MLS#202107920
  • TypeCommercial
  • CityMadison
  • AreaMadison
  • Zip47250
  • StyleServiceBusiness
  • Year Built1956
  • Taxes$ 19901
  • Price$ 2,900,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage28860
  • Lot Size4.24 Acres
Listing Provided Courtesy Of:
Jim Pruett with eXp Realty, LLC
Data Source:
Southern Indiana REALTORS® Association (SIRA) - 182 - IN
Property Description

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 are individually decorated. Rooms feature flat screen TVs, pillow top beds, fireplaces, hardwood floors, mini refrigerator, microwave and wi-fi. Included in the Riverboat Inn and Suites and within walking distance of the main building are the Paddlewheel and Captain’s Quarters. 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.

Price History
5/21/2021 Listed $2,900,000

General Features

Additional Parcels Description 391301223026000007, 391301223027000007
Business Type Hospitality
Current Use Service Business
Listing Agent State License RB14034779
Property Type Commercial Sale
PropertyCondition Resale
Status Active
Township Madison

Exterior Features

Lot Size Acres 4.24
Lot Size Area 4.24
Lot Size Square Feet 184694
Lot Size Units Acres


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 47250

AVG $660K
AVG $5,439
AVG 24
Year Built
AVG 1948
AVG 43
Data Provided by Walkscore ® not using MLS data

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