Historic Bed &
For Sale
$2,175,000
412 S 3rd Street, Wilmington, NC 28401
Eight guest rooms and nine bathrooms support lodging operations in Wilmington’s National Register Historic District.
Property Size6,290 SF
Price / SF$345.79
Days on Market85
Property Features for 412 S 3rd Street
General Information
Standard status
Active
Size
6,290 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
HD-R
Site & Location
Neighborhood
Old Wilmington
Taxes and HOA fees
Annual Taxes
$5,734
Building Details
Building Size
6,290 SF
Year Built
1903
Units
1
Construction
Queen Anne
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Source:
Gibbseliterealty
Added: Aug 7
Changed: Oct 26
Last Checked: Oct 29 at 10:46PM
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 Corporation
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Investment Insights
Based on property information with market context.
This Wilmington bed and breakfast spans 6,290 square feet and contains 8 guest bedrooms and 9 bathrooms. Queen Anne-style architecture, period millwork, hardwood floors, and landscaped grounds are among its physical features. The property is zoned HD-R.
The house is within Wilmington’s National Register Historic District, with the downtown riverwalk, dining, pubs, theater, and retail shops nearby. The district includes more than 230 historic blocks.
The house is within Wilmington’s National Register Historic District, with the downtown riverwalk, dining, pubs, theater, and retail shops nearby. The district includes more than 230 historic blocks.
Key Highlights
- 6,290‑square‑foot bed and breakfast
- 8 guest bedrooms and 9 bathrooms
- Queen Anne‑style architecture with period millwork and hardwood floors
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.
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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
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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 - Eight guest rooms and nine bathrooms support lodging operations in Wilmington’s National Register 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 $2,175,000.
What are key features of this property?
This property features: 6,290‑square‑foot bed and breakfast; 8 guest bedrooms and 9 bathrooms; Queen Anne‑style architecture with period millwork and hardwood floors
