Historic Bed & Breakfast with Carriage
For Sale
$445,000
611 W Woldert St, Tyler, TX 75702
Guest accommodations are paired with detached apartments and separate utility metering.
Property Size5,104 SF
Lot Size0.56 Acres
Price / SF$87.19
Days on Market34
Property Features for 611 W Woldert St
General Information
Standard status
Active
Size
5,104 SF
Class
B
Lot size
0.56 Acres
Property subtype
Multi-Family
Financials
Asking Price
$445,000
Business Included
Yes
Units
Unit Mix
2 x 694 SF apartment
Multifamily Units
2
Additional Details
Furnished
Yes
Utilities to Site
Yes
Building Details
Building Size
5,104 SF
Year Built
1884
Year Renovated
1992
Buildings
2
Units
8
Construction
Queen Anne Victorian
Listing Agency:
Scarborough Commercial Real Estate
Listed By:
Samuel Scarborough, CCIM · License #687976
(903) 570-7366
Source:
Commercialcafe
Added: Sep 4
Changed: Oct 6
Last Checked: Oct 5 at 3:35PM
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 Scarborough Commercial Real Estate
Investment Insights
Based on property information with market context.
The Woldert-Spence Manor is an 1884 Queen Anne Victorian designated as a Tyler Historic Landmark. Restored in 1992, the 3,716 SF main building contains seven guest rooms, each with a private bath, and has operated continuously as a bed and breakfast since 1993. Furnishings and established booking channels are included.
A detached 1,388 SF carriage house adds two 694 SF apartments with separate addresses and metered utilities. Together, the two buildings provide 5,104 SF on 0.557 acres. The property sits within Tyler’s Brick Street Historic District, two blocks from the downtown square, and includes more than three decades of operating history. The apartments can support additional rental income or owner occupancy while the manor continues in its lodging use.
A detached 1,388 SF carriage house adds two 694 SF apartments with separate addresses and metered utilities. Together, the two buildings provide 5,104 SF on 0.557 acres. The property sits within Tyler’s Brick Street Historic District, two blocks from the downtown square, and includes more than three decades of operating history. The apartments can support additional rental income or owner occupancy while the manor continues in its lodging use.
Key Highlights
- 1884 Queen Anne Victorian designated as a Tyler Historic Landmark
- 3,716 SF manor with seven guest rooms and private baths
- Detached 1,388 SF carriage house with two 694 SF apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,722
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,440
$614.4K
Cap Rate 7%
$438,886
$438.9K
Cap Rate 9%
$341,356
$341.4K
Market Conditions
NOI Build-Up for 5,104 SF
Gross rent
$73.5K $14.40/SF
− Vacancy
−$8.8K −$1.73/SF
EGI
$64.7K $12.67/SF
− OpEx
−$34.0K −$6.65/SF
NOI
$30.7K $6.02/SF
Area
Tyler, TX
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,440
Cap Rate 7%
$438,886
Cap Rate 9%
$341,356
Alternative Uses
Best Use
Apartment 5plus
$617.2K
$540.0K – $720.1K
NOI $43,203 @ 7.0% cap · market cap 9.71%
Second Best
Hotel Hospitality
$438.9K
$384.0K – $512.0K
NOI $30,722 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.14M
$996.8K – $1.33M
NOI $79,743 @ 7.0% cap · market cap 17.92%
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
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,891
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Spencer House — 622 w dobbs st, tyler, tx 75701
- Potter House — 811 S College Ave, Tyler, TX 75701
- Chilton Grand Bed & Breakfast — 433 S Chilton Ave, Tyler, TX 75702
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Guest accommodations are paired with detached apartments and separate utility metering.
Where is this bed & breakfast located?
The property is located at 611 W Woldert St Tyler, TX.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 1884 Queen Anne Victorian designated as a Tyler Historic Landmark; 3,716 SF manor with seven guest rooms and private baths; Detached 1,388 SF carriage house with two 694 SF apartments
