412 S 3rd Street, Wilmington, NC 28401
$2,295,000
Property Type:
Comm Sale or Lease
Square Footage:
6,290
Lot Size (sq. ft.):
12,632
Status:
Active
Current Price:
$2,295,000
List Date:
2/11/2025
Last Modified:
5/22/2025
Description
Incredible investment and business opportunity right in the heart Wilmington's Historic District. Voted USA Today's 2023 Best Reader Choice Bed and Breakfast, the C.W. Worth House provides outstanding guest services in the Wilmington area. The level of mindfulness, tasteful renovations and charming historic appeal set this B&B opportunity apart from others.
This beautiful historic landmark has seven guest rooms in addition to the main owner's suite. Each room has its own private entry, bathroom, and style. The inviting living areas are thoughtfully decorated and enhance the guest experience. Also included is a vacant parcel that is currently used by the owners for parking.
Its prime location near downtown, the River Walk, and various dining options, placement within a historic district and room capacity provide a fantastic opportunity for its next owner.
This property business is turnkey ready and has advanced booking that enabled the next owner to benefit from all the previous owner's efforts. CW Worth House has received national notoriety for their service and location. CW Worth house was awarded 2022 - Present: Select Registry Property, 2022 & 2023 TripAdvisor Travelers' Choice, 2023 Best Hotel/ Bed & Breakfast in the Cape Fear Region and 2023 USA Today #1 10Best Readers' Choice Best Bed & Breakfast. Considering the Award-Winning Business, Unique Charm, and a solid business plan enables the CW Worth House to continue to excel.
More Information MLS# 100488400
Contract Info
Available Date: 2025-02-11
Status: Active
Delayed Marketing?: No
Marketing Start Date: 2025-02-11
Sub-Type: Multi Family
Garage: N/A
Space: Yes
Sale/Lease: Sale
Listing Price: 2295000
Current Price: $2,295,000
List Price/SqFt: 364.86
Stipulation of Sale: Standard
Location Information
Street #: 412
Pre Direction: S
Street Name: 3rd
Street Suffix: Street
County: New Hanover
State/Province: NC
Zip Code: 28401
City Limits: Yes
Subdivision: Not In Subdivision
Secondary Subdivision: N/A
Geo Lat: 34.229938
Geo Lon: -77.945901
Remarks and Showing
Directions to Property: From Downtown Wilmington, Take South 3rd Street our of downtown. Property is at 412 S 3rd Street on the right hand side.
Sign on Property: No
Building Info
New Construction: No
BuildingExt Features
SqFt - Heated (Primary): 6290
Legal and Taxes
Tax Assessed Value: 640300
Total City Real Estate Property Tax: 5410
Deed Book: 6598
Deed Page: 732
Legal: Pt Lot 3 Blk 101 Wilm. Rev
Pt Lot 2 Blk 101 Wilmington
Broker Owner: No
PID: R05405-032-015-000
Tax Identifier: R05405-032-015-000
Total Real Estate Property Taxes: 5570.61
Special Assessments: none
Tax Year: 2024
Year Built: 1903
Zoning: HD-R
HOA: No
Cobra Zone: No
Federal Flood Ins Avlbl: Yes
Miscellaneous
Ceiling Height: 10
Current Use: Bed and Breakfast
Current Service Providers
Trash Provider: City of Wilmington
Electric Provider: Duke Progress Energy
Internet Service Provider(s): Spectrum
Natural Gas Provider: Piedmont Natural Gas Co.
Sewer Provider: Cape Fear Public Utility Authority
Water Provider: Cape Fear Public Utility Authority
Financial Info
Financial Info: Yes
Gross Income: 312425
Total Annual Expenses: 97991
Net Operating Income: 244434
Cap Rate %: 10.5
Real Estate Taxes: 5734
Insurance Expense: 9411
Property Features
Business Type: Bed & Breakfast
Showing Instructions: Special Instructions
HOA and Neigh Amenities: No Amenities
Attic: Access Only
Basement: Unfinished
Construction: Wood Frame
Exterior Finish: Wood Siding
Flooring: Tile; Wood
Foundation: Basement; Crawl Space
Fuel Tank: None
Parking Features: Off Street; Unpaved; See Remarks
Roof: Metal; Shingle
Lot Description: See Remarks
Current Use: Multi-Family; Residential; Other
Location: Historic District
Lot Water Features: None
Cooling: Central Air
Heating: Forced Air; Heat Pump
Heating System Fuel Source: Electric; Natural Gas
Water Heater: Electric
Utilities: Natural Gas Available; Water Available
Sewer: Municipal Sewer
Water Source: Municipal Water
Terms: 1031 Exchange; Cash; Conventional
Listing Office: Intracoastal Realty Corp
Last Updated: May - 22 - 2025
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