Historic Bed And
412 S 3rd Street, Wilmington, NC 28401
For Sale
$2,175,000
Commercial Sale, Wilmington, NC
Property Size6,290 SF
Lot Size0.25 Acres
Price / SF$345.79
Days on Market95
Property Features for 412 S 3rd Street
General Information
Property type
Property subtype
Zoning
Rooms
Parking
Parking features
Fireplace
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Intracoastal Realty Corporation
(910) 256-4503
Listed By:
Jeffrey G Hovis · License #234605
(910) 512-2205
Added: Aug 7
Changed: Oct 30
Last Checked: Nov 9 at 9:06AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Office A
$1.57M
$1.38M – $1.84M
NOI $110,186 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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
