Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Wilmington Bed & Breakfast Title is generated by Realmo AI

    412 S 3rd Street, Wilmington, NC 28401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,295,000

    Award-winning bed and breakfast in Wilmington's Historic District.

    Type:Commercial/Industrial
    Property size:
    6,290 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $364/SF
    Added:
    Mar 11, 2026
    Days on Market:
    62
    Last Refresh:
    Apr 5 at 9:16 pm

    Property Features for 412 S 3rd Street

    General Information

    Standard status
    Active
    Size
    6,290 SF
    Lot size
    0.29 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1903

    We can help!

    Listing Contact
    Jeffrey G Hovis
    Jeffrey G Hovis

    Listing agent Jeffrey G Hovis License #234605

    Listing office Intracoastal Realty Corp

    Listing date Mar 11, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Intracoastal Realty Corp

    HighLights

    • Award‑winning bed and breakfast, recognized as USA Today's 2023 Best Reader Choice.
    • Turnkey business with advanced bookings, offering immediate income.
    • Prime location in Wilmington's Historic District, near downtown, River Walk, and dining.
    • Seven guest rooms, each with private entry and bathroom, plus a separate owner's suite.
    • Includes a vacant parcel currently used for parking.
    • Tasteful renovations and charming historic appeal in a building built in 1903.

    Overview

    Located in the heart of Wilmington's Historic District, this property presents an investment and business opportunity. The C.W. Worth House, recognized as USA Today's 2023 Best Reader Choice Bed and Breakfast, offers guest services. The property features tasteful renovations and historic appeal. This historic landmark includes seven guest rooms, each with a private entry, bathroom, and unique style, in addition to the main owner's suite. The living areas are decorated to enhance the guest experience. The property includes a vacant parcel used for parking. Its location near downtown, the River Walk, and dining options, along with its placement within a historic district and room capacity, provide an opportunity for its next owner. The property business is turnkey ready and has advanced booking. The C.W. Worth House has received national recognition for its service and location, including Select Registry Property (2022 - Present), TripAdvisor Travelers' Choice (2022 & 2023), Best Hotel/Bed & Breakfast in the Cape Fear Region (2023), and USA Today #1 10Best Readers' Choice Best Bed & Breakfast (2023). The property size is 6290 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    C.W. Worth House ... Bed & Breakfast

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hoge-Wood House Bed & Breakfast — 407 S 3rd St, Wilmington, NC 28401
    • Rosehill Inn Bed & Breakfast — 114 S 3rd St, Wilmington, NC 28401
    • South End Bungalow — 1013 S 7th St, Wilmington, NC 28401
    • The Inn at City Club — 23 S 2nd St, Wilmington, NC 28401
    • Nacho Mama's - Serious Hospitality — 416 S Front St, Wilmington, NC 28401

    Location Insight

    • Map
    • Local Demand
    City
    Wilmington
    County
    New Hanover
    State
    North Carolina
    Longitude
    -77.9457
    Latitude
    34.23

    Nearby Similar for Sale

    • $4,400,000
      7,922 SF

      Renovated Restaurant Facility on Market

      Move-in ready restaurant with drive-thru in Porters Neck area.
      8232 Market Street, Wilmington, NC 28411
      View Details
    • $3,550,000
      13,320 SF

      Wilmington Multifamily Investment Opportunity

      24-unit multifamily property near UNCW with income upside.
      145 Lullwater Drive, Wilmington, NC 28403
      View Details
    • $1,065,000
      3,542 SF

      Turnkey Wilmington Multifamily Investment Opportunity

      Four-unit property near hospital, shopping, and beaches. Fully income-producing.
      1421 -1425 Wellington Avenue, Wilmington, NC 28401
      View Details
    • $695,000
      3,301 SF

      Wilmington Four-Unit Income Property

      Income-producing four-unit property in Wilmington's Historic Mixed-Use District.
      407 Red Cross Street, Wilmington, NC 28401
      View Details
    • $349,000
      2,000 SF

      Wilmington Multifamily Investment Opportunity

      Two homes on one lot near South Front District.
      1219 S 4th Street, Wilmington, NC 28401
      View Details
    • $582,500
      2,867 SF

      Income-Generating Multi-Family Home

      Four-bedroom home with two separate one-bedroom apartments.
      327 Pinecliff Drive, Wilmington, NC 28409
      View Details
    • $1,075,000
      3,125 SF

      Historic Downtown Wilmington Triplex Investment

      Three-unit property in historic downtown Wilmington with income potential.
      308 Church Street, Wilmington, NC 28401
      View Details
    • $354,999
      1,350 SF

      Wilmington Duplex: Income and Potential

      Well-maintained duplex with rental income and owner-occupant potential.
      2803 Chappell Avenue, Wilmington, NC 28412
      View Details
    • $599,000
      2,360 SF

      Wilmington Multifamily Investment Opportunity

      New construction duplex ideal for long-term or short-term rentals.
      1409 N 26th Street, Wilmington, NC 28405
      View Details
    • $1,795,000
      4,761 SF

      Historic Downtown Wilmington Home

      Historic 4,761 sq ft home in downtown Wilmington.
      118 S 4th Street, Wilmington, NC 28401
      View Details
    • $725,000
      3,096 SF

      Wilmington Duplex: Investment Opportunity

      Rare opportunity to own a fully occupied duplex.
      1308 Corbett Street, Wilmington, NC 28401
      View Details
    • $299,000
      800 SF

      Wilmington Flex Space Condo

      Renovated commercial condo with office, garage, and storage.
      6413 Carolina Beach Road, Wilmington, NC 28412
      View Details

    FAQs

    What type of property is this?
    Bed & breakfast - Award-winning bed and breakfast in Wilmington's Historic 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 $2,295,000.
    What are key features of this property?
    This property features: Award‑winning bed and breakfast, recognized as USA Today's 2023 Best Reader Choice.; Turnkey business with advanced bookings, offering immediate income.; Prime location in Wilmington's Historic District, near downtown, River Walk, and dining.
    (910) 256-4503
    We can help!
    Listing Contact
    Jeffrey G Hovis
    Jeffrey G Hovis
    Real Estate License ID: 234605
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    412 S 3rd Street, Wilmington, NC 28401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!