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223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff
  • 223 Otter Street Banff

223 Otter Street, Banff, Alberta

$5,750,000

  • 11 Beds
  • 9 Baths
  • 3,590 Square Feet

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:23309)

  • Listing ID: A2207582
  • Property Type: Single Family
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Rooms

LevelTypeDimensions
3pc Bathroom Second level 11.17 M x 3.08 M
3pc Bathroom Second level 10.25 M x 6.33 M
3pc Bathroom Second level 10.08 M x 6.42 M
4pc Bathroom Second level 5.92 M x 7.08 M
Bedroom Second level 11.75 M x 12.42 M
Bedroom Second level 11.75 M x 10.50 M
Bedroom Second level 11.75 M x 12.08 M
Bedroom Second level 11.75 M x 9.33 M
Bedroom Second level 11.83 M x 8.25 M
Den Second level 7.67 M x 6.42 M
Primary Bedroom Second level 11.75 M x 13.00 M
4pc Bathroom Third level 10.00 M x 5.08 M
Bedroom Third level 18.25 M x 13.00 M
Loft Third level 29.08 M x 16.33 M
3pc Bathroom Basement 5.50 M x 9.17 M
3pc Bathroom Basement 3.58 M x 8.42 M
3pc Bathroom Basement 6.25 M x 6.83 M
Bedroom Basement 9.83 M x 9.08 M
Bedroom Basement 14.67 M x 15.83 M
Dining room Basement 10.58 M x 10.08 M
Primary Bedroom Basement 10.83 M x 23.33 M
Furnace Basement 8.25 M x 9.42 M
2pc Bathroom Main level 4.92 M x 5.92 M
Bedroom Main level 11.25 M x 12.50 M
Other Main level 15.25 M x 20.50 M
Foyer Main level 11.42 M x 6.58 M
Kitchen Main level 14.92 M x 18.92 M
Dining room Main level 14.67 M x 5.00 M
Laundry room Main level 14.00 M x 6.58 M
Living room Main level 18.92 M x 20.17 M
Recreational, Games room Main level 16.75 M x 13.25 M

Details

  • Amenities Nearby: Golf Course, Schools, Shopping
  • Community Features: Golf Course Development
  • Features: Back lane
  • Ownership: Leasehold
  • Parking Spaces: 6
  • Plan: 6719BC
  • Transaction: For sale
  • Zoning Description: RNC

Building

  • Appliances: Refrigerator, Dishwasher, Range, Oven, Dryer
  • BasementType: Full (Finished)
  • Basement Development: Finished
  • Basement Features: Separate entrance, Walk out, Suite
  • Bedrooms Main Level: 8
  • Bedrooms Lower Level: 3
  • Construction Style Attachment: Detached
  • Cooling: None
  • Exterior Finish: Wood siding
  • Fireplace Present: True
  • Fireplace Total: 1
  • Flooring: Hardwood, Tile
  • Foundation: Poured Concrete
  • Bathrooms (Half): 1
  • Bathrooms (Total): 9
  • Heating: Hot Water, Radiant heat
  • Heating Fuel: Natural gas
  • Size Interior: 3590 sqft
  • Stories Total: 3
  • Total Finished Area: 3590 sqft
  • Type: House

Land

  • Amenities: Golf Course, Schools, Shopping
  • Fence: Partially fenced
  • Size Frontage: 12.22 m
  • Size Irregular: 484.00
  • Size Total: 484 m2|4,051 - 7,250 sqft
MLS®

Listing provided by Sotheby's International Realty Canada
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REALTOR®

This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 223 Otter Street in Banff Ontario. It was last modified on April 1st, 2025. Contact Page Wetsch to schedule a viewing or to discover other Banff real estate for sale.

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