611 W Woldert St - Hospitality FOR SALE


Tyler, TX 75702
$445,000 USD
903-570-7366
611 W Woldert St, Tyler, TX for Sale
$445,000 USD
Hospitality - FOR SALE
1/43
null | 5.96% Cap Rate

611 W Woldert St
Tyler, TX 75702


HIGHLIGHTS

  • 1884 Queen Anne Victorian and designated Tyler Historic Landmark, with original heart-of pine and oak floors, period millwork, and stained glass
  • Operating continuously as a bed and breakfast since 1993.
  • Offered turnkey-Seven guest rooms across 3,716 SF, four upstairs and three down, each with a private bath
  • Located in the Brick Street Historic District.
  • Close proximity to the downtown Tyler Square, Goodman-LeGrand Museum, Liberty Hall, ETX Brewing, and Crema Coffee
  • Tyler's oldest bed and breakfast, operating continuously since 1993

OVERVIEW

The Woldert-Spence Manor was built in 1884 by William Woldert, whose family helped settle Smith County. A second story was added in the 1930s, and two garage apartments were built at the rear of the lot after the 1931 oil boom brought a housing shortage to Tyler. Restored in 1992 and operating as a bed and breakfast since 1993, it is the oldest continuously operating inn in the city. The offering totals 5,104 SF across two buildings on 0.557 acres in Tyler's Brick Street Historic District, two blocks from the downtown square and closer to it than any other lodging in the city. The 3,716 SF Manor holds seven guest rooms, each with a private bath. The detached carriage house holds two 694 SF apartments with separate addresses and metered utilities, producing $32,400 in annual rent. At $445,000, the nine-key offering prices at roughly $87 per SF and $49,400 per key. Guest room revenue has averaged $29,854 over the last five years. With $225,869 invested since 2016, including roof, deck, insulation, and full exterior repaint, a buyer inherits a stabilized building and meaningful room revenue upside, whether continuing the inn, repositioning as short-term rental or event space, or occupying one cottage while the other carries costs.

FOR SALE DETAILS

PRICE

$445,000 USD

PRICE/SF

$87 USD /SF

# OF ROOMS

7

PRICE/ROOM

$63,571 {currency}

CAP RATE

5.96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Woldert-Spence Manor

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Hotel

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1884

PARKING SPACES

8

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

R-MF

APN/PARCEL ID

150000008900011010

ASK ABOUT THIS PROPERTY

Samuel Scarborough CCIMScarborough Commercial Real EstateMore Info
903-570-7366

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Samuel Scarborough CCIMScarborough Commercial Real EstateMore Info
903-570-7366

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.