118 4th St, Wilmington, NC 28401-4569

This exceptional 4,546 square foot hotel in Wilmington, NC's historic district presents a compelling investment opportunity. Built in 1890 and extensively renovated in 2021, this three-story, nine-key property boasts a 100% occupancy rate and a strong NOI of $525,000, yielding a 6.00% cap rate. The asking price is $1,785,000. The property features six master suites within the main house, plus an additional three-room bed and breakfast suite permit, and a separate accessory unit suitable for long-term rental, offering flexible income streams. The meticulously renovated interior showcases high ceilings, crown molding, custom closets, and large windows, while the beautifully landscaped gardens enhance the property's curb appeal. Each guest room includes Wi-Fi, Bluetooth speakers, en-suite bathrooms, and premium amenities. The property is fully furnished and situated within walking distance of downtown restaurants, shops, and entertainment venues. The lot size is 0.24 acres, and there are four parking spaces available. The property is zoned HD-R and has a Pro-Forma NOI of $375,500. This is a rare chance to acquire a thriving, historically significant hotel in a prime location. The property is free and clear of any ground lease.