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CAABBanff223 Otter Street
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223 Otter Street, Banff, AB

House

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1196

MLS® A2207582

Overview

Key Facts

Type Single Family Residence
Levels Residential
Size 3590 sqft
Garage No
Taxes $10,235
Lot Size 0.12 acres
Approx. Age 
Avg. Price Per Sqft $1,601
MLS® Number A2207582

Property Address: 223 Otter Street, Banff, AB, T1L1C3

Average square foot calculated using Size range provided by listing agent.

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.Show Description
MLS® NumberA2207582
Laundry LevelIn Unit
Central VacNo
FireplaceNo
Acreage0.12
Exterior
GarageNo
Approx. Age
BasementSeparate/Exterior Entry, Finished, Full, Suite, Walk-Out To Grade
DrivewayOff Street
Garage Spaces
Heat
A/C
Heating Fuel

Extras

All appliances, chattels, furnishings, electronics and art

Rooms

Show Details
Other:Basement22.42 × 20.5 ft
Other:Main Floor41 × 36.92 ft
Other:Second Floor40.75 × 38.59 ft
Other:Main Floor21.59 × 37.5 ft
Other:Third Floor16.67 × 32.84 ft
Other:Main Floor21.59 × 45.92 ft
Other:Main Floor19.42 × 16.17 ft
Dining Room:Basement33.09 × 34.75 ft
Other:Basement51.92 × 48.17 ft
Kitchen:Main Floor62.09 × 48.92 ft
Other:Main Floor67.25 × 50 ft
Living Room:Main Floor66.17 × 62.09 ft
Other:Basement76.59 × 35.5 ft
Other:Second Floor39.67 × 38.59 ft
Other:Second Floor27.09 × 38.84 ft
Den:Second Floor21.09 × 25.17 ft
Other:Second Floor34.42 × 38.59 ft
Other:Basement30.92 × 27.09 ft
Other:Main Floor43.5 × 55 ft
Loft:Third Floor53.59 × 95.42 ft
Other:Basement30.09 × 18.09 ft

Price History

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