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$5,750,000
Est. payment /mo
4,959 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Leasehold
Listing Status Active
Purchase Type For Sale
Square Footage 4,959 sqft
Price per Sqft $1,159
MLS® Listing ID A2199643
Originating Board Calgary Real Estate Board
Lot Size 5,214 Sqft
Acres 5214.576
Property Sub-Type Leasehold
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. 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 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:24570)
Location
Province AB
Rooms
Kitchen 0.0
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 6
Private Pool No
Others
Ownership Leasehold
Virtual Tour https://youtu.be/9jkw5GdZcFc?si=ZOtV84dTFhZOXXsN
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Listed by Sotheby's International Realty Canada
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Nick Penney