Located on Caroline Street, sits one of the grandest homes in the city. This historic residence, circa 1901, is one of The City of Fredericksburg's most recognized homes. In 1787 land owner Hugh Mercer ran a practice of physick and surgery'' on the lot. The building was destroyed by fire in 1807 and the lot sat vacant until the current home was built. Inside, the spacious, two-story residence retains beautifully preserved details including period fixtures, original mantles, 3 fireplaces, hardwood floors, restored moldings and door surrounds. Large formal rooms and generous bedroom suites create an inviting layout for everyday living and unparalleled entertaining. The grounds are equally spectacular, featuring gorgeous historic trees with extra private drive, oversized garage and parking lot. Sellers began a meticulous multi-year renovation with dreams to create ''The Candlelight Inn,'' saving and restoring molding, original doors, hardware, window trim and casing. Upon arrival the wrap around porch offers several entrances and currently two units. The first floor is plumbed for a kitchen and bath, contains formal living and dining room as well as two generous sized bedrooms. On the second floor, you will find four more bedrooms, and plumbing for another kitchen and bath. Stairs take you further to the expansive attic ready to finish for additional space. The possibilities for the property are endless... residence, B&B, Airbnb, office buildings, multi-unit residence. Oversized lot contains addresses 1100-1104 allowing for possible subdivision and building of another unit. Across the street from the historical apothecary shop and in walking distance to shops, restaurants, the Rappahannock, parks and more. Electrical and panel have been updated as well as porch. Home is being sold AS-IS and all items convey including numerous antiques. While this iconic home needs further renovation much has been done and this presents a rare opportunity to own a piece of Fredericksburg's storied past.