Historic Bed And
For Sale
$2,175,000
412 S 3rd Street, Wilmington, NC 28401
Commercial Sale, Wilmington, NC
Property Size6,290 SF
Lot Size0.25 Acres
Price / SF$345.79
Days on Market62
Property Features for 412 S 3rd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HD-R
Rooms
Basement
Parking
2
Parking features
Off Street, Paved or Surfaced
Fireplace
1
Subdivision
Not In Subdivision
Directions
Travelling west on Market turn left onto 3rd St. The inn is located on the right between Nun and Church
Standard status
Active
APN
R05405-032-015-000
Size
6,290 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pt Lot 3 Blk 101 Wilm Rev
Tax Annual Amount
5734
Legal Description
Pt Lot 3 Blk 101 Wilm Rev
Utilities
Utilities
Water Available
Heating system
Electric (Heating), Heat Pump (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1903
Number of units
1
Flooring type
Tile, Wood
Building materials
Wood Siding, Wood Frame
Roof type
Shingle, Metal
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Added: Aug 7
Changed: Sep 12
Last Checked: Oct 7 at 1:06PM
MLS# 100594749
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This bed and breakfast occupies a 6,290-square-foot Queen Anne-style property on 0.25 acres, with 8 guest bedrooms and 9 bathrooms. The building features wood siding and wood-frame construction, wood and tile flooring, central air, multiple heating systems, a metal and shingle roof, a fireplace, and a basement. Paved and off-street parking are provided, with public water and water available.
The property is located at 412 S 3rd Street in Wilmington’s National Register Historic District. Its setting places guests near more than 230 historic blocks, the downtown riverwalk, dining, craft pubs, theater, and retail. Zoning is HD-R, and the landscaped grounds provide additional outdoor space for the hospitality operation.
The property is located at 412 S 3rd Street in Wilmington’s National Register Historic District. Its setting places guests near more than 230 historic blocks, the downtown riverwalk, dining, craft pubs, theater, and retail. Zoning is HD-R, and the landscaped grounds provide additional outdoor space for the hospitality operation.
Key Highlights
- 8 guest bedrooms and 9 bathrooms
- 6,290‑square‑foot property on 0.25 acres
- Located in Wilmington’s National Register Historic District
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,455
Cap Rate
2.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,289,100
$1.3M
Cap Rate 7%
$920,786
$920.8K
Cap Rate 9%
$716,167
$716.2K
Market Conditions
NOI Build-Up for 6,290 SF
Gross rent
$169.8K $27.00/SF
− Vacancy
−$34.1K −$5.43/SF
EGI
$135.7K $21.57/SF
− OpEx
−$71.2K −$11.33/SF
NOI
$64.5K $10.25/SF
Area
Wilmington, NC
Vacancy
20.10%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,289,100
Cap Rate 7%
$920,786
Cap Rate 9%
$716,167
Alternative Uses
Best Use
Hotel Hospitality
$920.8K
$805.7K – $1.07M
NOI $64,455 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$77.02M
$67.39M – $89.85M
NOI $5,391,215 @ 7.0% cap · market cap 247.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28401, NC
22,204
Population
13,017
Households
1.7
Avg Household Size
41
Median Age
34%
College-Educated
88%
High-School Grad
31.0 sq mi
ZIP Area
716
Density / Sq Mi
$52,159
Median Household Income
$35,739
Median Earnings
$1,183
Median Rent
$263,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- South End Bungalow — 1013 S 7th St, Wilmington, NC 28401
- Nacho Mama's - Serious Hospitality — 416 S Front St, Wilmington, NC 28401
- Hoge-Wood House Bed & Breakfast — 407 S 3rd St, Wilmington, NC 28401
- The Inn at City Club — 23 S 2nd St, Wilmington, NC 28401
- Rosehill Inn Bed & Breakfast — 114 S 3rd St, Wilmington, NC 28401
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Queen Anne-style hospitality property with guest accommodations, landscaped grounds, and access to Wilmington’s downtown riverfront district.
Where is this bed & breakfast located?
The property is located at 412 S 3rd Street Wilmington, NC.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: 8 guest bedrooms and 9 bathrooms; 6,290‑square‑foot property on 0.25 acres; Located in Wilmington’s National Register Historic District
