Homes for sale - 223 Otter ST, Banff, AB T1L 1C3

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Calley Erickson Team

team@calley.ca +1(587) 355-2153

$ 5,750,000

Est. payment | -/mo

11 Beds

9 Baths

3,590 SqFt

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$ 5,750,000

Est. payment | -/mo

Save Virtual Tour

11 Beds

9 Baths

3,590 SqFt

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 3,590 sqft

Price per Sqft $1,601

MLS® Listing ID A2207582

Style 3 (or more) Storey

Bedrooms 11

Full Baths 8

Half Baths 1

Originating Board Calgary

Annual Tax Amount $10,234

Tax Year 2024

Lot Size 5,209 Sqft

Acres 0.12

Property Sub-Type Detached

Property Description

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.

Location

Province AB

County Improvement District No. 09 (banff)

Zoning RNC

Direction E

Rooms

Other Rooms 1

Basement Separate/Exterior Entry, Finished, Full, Suite, Walk-Out To Grade

Interior

Interior Features Beamed Ceilings, Built-in Features

Heating Hot Water, Natural Gas, Radiant

Cooling None

Flooring Hardwood, Tile

Fireplaces Number 1

Fireplaces Type Electric, Living Room

Inclusions All appliances, chattels, furnishings, electronics and art

Appliance Dishwasher, Dryer, Oven, Range, Refrigerator

Laundry In Unit

Exterior

Parking Features Off Street

Garage Description Off Street

Fence Partial

Community Features Golf, Schools Nearby, Shopping Nearby, Street Lights

Roof Type Asphalt Shingle

Porch Balcony(s)

Lot Frontage 40.09

Total Parking Spaces 6

Building

Lot Description Back Lane, Sloped Down

Foundation Poured Concrete

Architectural Style 3 (or more) Storey

Level or Stories Three Or More

Structure Type Wood Siding

Others

Restrictions Short Term Rentals Allowed

Ownership Private

Virtual Tour https://youtu.be/9jkw5GdZcFc?si=ZOtV84dTFhZOXXsN

Listed by Sotheby's International Realty Canada

Calley Erickson Team

Team

+1(587) 355-2153

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Homes For Sale in Canada

223 Otter ST Banff, AB T1L 1C3

Calley Erickson Team

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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223 Otter ST

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