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$445,000
Est. payment /mo
0.56 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Building
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26012119
Construction Status Pre-owned
Year Built 1884
Tax Year 2023
Lot Size 0.557 Acres
Acres 0.557
Property Sub-Type Building
Source Greater Tyler Association of REALTORS
Property Description
The Woldert-Spence Manor is an 1884 Queen Anne Victorian and a designated Tyler Historic Landmark, operating continuously as a bed and breakfast since 1993. The 3,716 SF Manor offers seven guest rooms, each with a private bath. A detached 1,388 SF carriage house building holds two rental apartments for additional income or owner occupancy. Offered turnkey with furnishings, established booking channels, and more than three decades of operating history. 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.
Location
State TX
County Smith
Interior
Furnishings Pre-owned
Building
Lot Description Inside City Limits
Sewer Other/See Remarks
Construction Status Pre-owned
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Listed by Samuel Scarborough Scarborough Commercial Real Estate
Nearby School & Business
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