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412 S 3rd Street, Wilmington, NC 28401

$2,375,000
Property Type: Comm Sale or Lease Square Footage: 6,290 Lot Size (sq. ft.): 10,890 Status: Active
Current Price: $2,375,000 List Date: 3/14/2024 Last Modified: 5/16/2024

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. 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 read 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# 100432848

Contract Info

Available Date: 2024-03-14 Status: Active Effective Date: 2024-03-14 Delayed Marketing?: No Delayed Marketing Date (DM): 2024-03-14 Sub-Type: Improved Garage: N/A Space: Yes Sale/Lease: Sale Listing Price: 2375000 Current Price: $2,375,000 List Price/SqFt: 377.58 Sub Agent Comm $/%: % Buyer Agent Comm: 2.5 Buyer Agent Comm $/%: % Variable Comm: No Stipulation of Sale: None

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: Historic District Geo Lat: 34.229938 Geo Lon: -77.945901

Remarks and Showing

Directions to Property: From Downtown Wilmington take 3rd Street, cross over Market Street to proceed on S 3rd Street. Sign on Property: No

Building Info

New Construction: No

Building/Ext Features

# of Parking Spaces: 1 # of Units: 1 Lot Acres: 0.25 Lot SqFt: 10890 Lot Dimensions: 66 x 165 SqFt - Total Available: 6290 SqFt - Heated (Primary): 6290 Location Type: Mainland

Legal and Taxes

Tax Assessed Value: 640300 Total City Real Estate Property Tax: 5410 Deed Book: 6537 Deed Page: 2083 Legal: Pt Lot 3 Blk 101 Wilm Rev Broker Owner: No PID: R05405-032-015-000 Tax Identifier: R05405-032-015-000 Total Real Estate Property Taxes: 5410.54 Special Assessments: none Tax Year: 2023 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

Road/Trans Access

Airport: Less than 5 Miles County Highway: Less than 5 Miles Interstate: Less than 5 Miles Port: 6 - 10 Miles Rail: 6 - 10 Miles State Highway: Less than 5 Miles

Current Service Providers

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: 337500 Total Annual Expenses: 114192 Net Operating Income: 223328 Cap Rate %: 9.2 Real Estate Taxes: 5410 Insurance Expense: 9411

Property Features

Sub-Type: Bed and Breakfast Showing Instructions: Special Instructions HOA and Neigh Amenities: No Amenities Basement: Finished - No Construction: Wood Frame Exterior Finish: Wood Siding Flooring: Tile; Wood Foundation: Basement; Crawl Space Fuel Tank: None Sale/Lease Includes: Buildings; Business; Fixtures; Furniture; Inventory; Licenses/Permits; See Remarks Parking Features: See Remarks Road Type/Frontage: 2 - 3 Lanes; Public (City/Cty/St) Roof: Metal; Shingle Lot Description: See Remarks Current Use: Other Location: Historic District Lot Water Features: None Cooling: Central Heating: Forced Air; Heat Pump Heating System Fuel Source: Electric; Natural Gas Water Heater: Electric Utilities: Municipal Sewer; Municipal Water; Natural Gas Available Terms: 1031 Exchange; Cash; Conventional
Listing Office: Intracoastal Realty Corp
Last Updated: May - 16 - 2024
412 S 3rd Street, Wilmington, NC 28401- MLS# 100432848
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
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© Copyright 2023. NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of noninfringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.

Brad Vanderburg

Brad Vanderburg

I made the South Brunswick Islands my home over twenty(20) years ago and have been active in the business community here for all those years. Being married for thirty years and having started a family late in life, I have certainly come to appreciate what it means to live in an area that makes you happy. I enjoy working with the public, educating new REALTORS® and managing the agents under my supervision and serving as a Board Member on the Brunswick County Board of REALTORS®.
  • Brunswick County Board of REALTORS®
  • Broker-In-Charge Sunset Realty
  • Education Committee Chairman 2007
  • 2005 CENTURION® Producer
  • Top Lister and “On Track” Award Floyd Wickman class of 2001
  • REALTOR®-ePro
  • Long time area resident
  • Active in Community
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Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
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