Firefighters responded to the scene, a marina in the 1800 block of Westlake Avenue North, at about 12:20 a.m. Friday after receiving 911 calls about the fire.
The flames were extinguished within about 20 minutes, but it was too late to save the 33-foot craft. Another boat next to the burning vessel sustained fire exposure damage.
No one was aboard either boat at the time of the blaze, and no one was hurt.
Damage to both boats was estimated at $270,000. The dock where they were moored sustained an estimated $100,000 in damage.
Booms were deployed around the boats to contain any contaminated water.
The cause of the fire remains under investigation.