223 Otter Street Banff, Alberta T1L 1C3
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Christopher Vincent
Associate
(403) 244-5315
www.canmorebanffrealestate.com/
www.facebook.com/canmorebanffrealestate
www.linkedin.com/in/cbvincent
www.twitter.com/cbvincent
https://www.instagram.com/canmorebanffrealestate/
www.youtube.com/@CanmoreBanffRealty
Laura Wright
Associate
(403) 244-5315
https://www.canmorebanffrealestate.com/
https://www.facebook.com/CanmoreBanffRealEstate
$5,750,000
With a net operating income of $425k in 2024 and forecast NOI of $460 in 2025, an incredible opportunity in Banff. Positioned in the heart of Banff, 223 Otter Street presents a rare opportunity to own one of the town’s highly coveted B&B Inn licenses—one of just eight in existence. An exclusive designation that allows for legal short-term rental income while also satisfying Banff’s need-to-reside requirement for owners. With recent regulatory changes tightening short-term rental allowances, income-generating properties of this scale and exclusivity are becoming increasingly scarce. This historic 10-room inn, complete with a manager’s legal suite, combines strong revenue potential with an exceptional lifestyle investment. The main building features seven guest rooms, while the lower level adds three more, providing flexible accommodation options. Guests and owners alike can enjoy multiple common areas, a spacious deck with panoramic views of Mount Norquay, and a full kitchen—all designed for both relaxation and efficiency. Off-street parking further enhances the guest experience. For investors, this asset offers a compelling cap rate in a high-demand tourism market with strict barriers to entry. More than just a business, 223 Otter Street provides the rare ability to meet Banff’s "need to reside" requirement while capitalizing on a tightly controlled, high-yield hospitality segment in Canada’s first national park. A scarce asset in an iconic destination—this is Banff investment real estate at its finest. (id:43352)
Property Details
| MLS® Number | A2207582 |
| Property Type | Single Family |
| Amenities Near By | Golf Course, Schools, Shopping |
| Community Features | Golf Course Development |
| Features | Back Lane |
| Parking Space Total | 6 |
| Plan | 6719bc |
Building
| Bathroom Total | 9 |
| Bedrooms Above Ground | 8 |
| Bedrooms Below Ground | 3 |
| Bedrooms Total | 11 |
| Age | Age Is Unknown |
| Appliances | Refrigerator, Dishwasher, Range, Oven, Dryer |
| Basement Development | Finished |
| Basement Features | Separate Entrance, Walk Out, Suite |
| Basement Type | Full (finished) |
| Construction Style Attachment | Detached |
| Cooling Type | None |
| Exterior Finish | Wood Siding |
| Fireplace Present | Yes |
| Fireplace Total | 1 |
| Flooring Type | Hardwood, Tile |
| Foundation Type | Poured Concrete |
| Half Bath Total | 1 |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water, Radiant Heat |
| Stories Total | 3 |
| Size Interior | 3590 Sqft |
| Total Finished Area | 3590 Sqft |
| Type | House |
Parking
| Other |
Land
| Acreage | No |
| Fence Type | Partially Fenced |
| Land Amenities | Golf Course, Schools, Shopping |
| Size Depth | 39.57 M |
| Size Frontage | 12.22 M |
| Size Irregular | 484.00 |
| Size Total | 484 M2|4,051 - 7,250 Sqft |
| Size Total Text | 484 M2|4,051 - 7,250 Sqft |
| Zoning Description | Rnc |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | 3pc Bathroom | 11.17 M x 3.08 M | ||
| Second Level | 3pc Bathroom | 10.25 M x 6.33 M | ||
| Second Level | 3pc Bathroom | 10.08 M x 6.42 M | ||
| Second Level | 4pc Bathroom | 5.92 M x 7.08 M | ||
| Second Level | Bedroom | 11.75 M x 12.42 M | ||
| Second Level | Bedroom | 11.75 M x 10.50 M | ||
| Second Level | Bedroom | 11.75 M x 12.08 M | ||
| Second Level | Bedroom | 11.75 M x 9.33 M | ||
| Second Level | Bedroom | 11.83 M x 8.25 M | ||
| Second Level | Den | 7.67 M x 6.42 M | ||
| Second Level | Primary Bedroom | 11.75 M x 13.00 M | ||
| Third Level | 4pc Bathroom | 10.00 M x 5.08 M | ||
| Third Level | Bedroom | 18.25 M x 13.00 M | ||
| Third Level | Loft | 29.08 M x 16.33 M | ||
| Basement | 3pc Bathroom | 5.50 M x 9.17 M | ||
| Basement | 3pc Bathroom | 3.58 M x 8.42 M | ||
| Basement | 3pc Bathroom | 6.25 M x 6.83 M | ||
| Basement | Bedroom | 9.83 M x 9.08 M | ||
| Basement | Bedroom | 14.67 M x 15.83 M | ||
| Basement | Dining Room | 10.58 M x 10.08 M | ||
| Basement | Primary Bedroom | 10.83 M x 23.33 M | ||
| Basement | Furnace | 8.25 M x 9.42 M | ||
| Main Level | 2pc Bathroom | 4.92 M x 5.92 M | ||
| Main Level | Bedroom | 11.25 M x 12.50 M | ||
| Main Level | Other | 15.25 M x 20.50 M | ||
| Main Level | Foyer | 11.42 M x 6.58 M | ||
| Main Level | Kitchen | 14.92 M x 18.92 M | ||
| Main Level | Dining Room | 14.67 M x 5.00 M | ||
| Main Level | Laundry Room | 14.00 M x 6.58 M | ||
| Main Level | Living Room | 18.92 M x 20.17 M | ||
| Main Level | Recreational, Games Room | 16.75 M x 13.25 M |
https://www.realtor.ca/real-estate/28104177/223-otter-street-banff
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
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Sotheby's International Realty Canada
April 01 2025 09:36:23
