View + 106 more images

Rocky Mountain Bed & Breakfast | 223 Otter Street

Banff, Alberta

$5,750,000 CAD

Schedule a showing Get in touch

With a net operating income of $425k in 2024 and forecast NOI of $460 in 2025,…

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.

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.

4,959 Sq.Ft. Living Space

5,214 Sq.Ft. Lot Size

Play 3D tour

Gallery

01/

Exterior & Building Lot & Area Finance Downloads

Exterior & Building

Roof

Asphalt Shingle

Lot Features

Sloped Down

Heat Type

Boiler, Natural Gas

Substructure

Poured Concrete

Lot & Area

Status

For Sale

Living Area

4,959 Sq.Ft.

Lot Size

5,214 Sq.Ft.

MLS® ID

A2199643

Type

Commercial

Neighborhood

Banff

Finance

Sales Price

$5,750,000 CAD

Zoning

RNC

Downloads

223 Otter St Measurements anf Floorplans-compressed.pdf

Schedule a Showing

Tour In Person

Tour Via Video сhat

Schedule a Tour

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

Full Name

Phone

Email Address

Middle Name

Change time

By providing Vincent & Wright Group | Sotheby's International Realty Canada your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

Thank you for your interest in 223 Otter Street, Banff, Alberta T1L 1C3. We are reviewing your request and will be in touch shortly!

Mortgage Calculator

Estimate your monthly mortgage payment, including the principal and interest, property taxes, and HOA. Adjust the values to generate a more accurate rate.

$0,000 Your Payment

Banff

Canada's first National Park and world famous mountain town.

Welcome to Banff

In 1883, three railroad workers stumbled upon some hot springs at the base of Sulphur Mountain and the rest is history. In 1885, Banff became Canada’s first national park with the charming town of Banff located in the heart of it. This mountain town of about 8,000 residents is truly world-famous and a joy to call home. Residency is limited by Parks Canada “Need to Reside Clause” as one is regulated to either own a business or be working in the National Park. When one is buying a home or any real estate transaction in Banff, be it a townhouse, house, condominium, apartment, or lot in Banff, it is important to understand this clause.

With tourism as the main industry, many people commute between Banff and Canmore daily. Banff is home to the Banff Centre for the Arts, the Fairmont Banff Springs, Parks Canada, and many other hotels and restaurants.

The lifestyle that comes with living in Banff is second to none; skiing, golf, hiking, biking, and fishing all lay at your doorstep. With a nightlife that consists of casual pints, fine dining, live music, skating on the river, theater, or the arts there is always something happening in town. The world-famous Banff Springs Golf Course is right in town and Mount Norquay Ski Resort is at the end of town. Sunshine Village and Lake Louise ski resorts are a quick drive west of town and offer world-class alpine skiing.

Banff is like few other places to call home. Want to know more about living in Banff, buying a home, or real estate in Banff? Christopher and Laura look forward to chatting with you, you can contact them here.

Welcome to Banff In 1883, three railroad workers stumbled upon some hot springs at the base of Sulphur Mountain and the rest is history. In 1885, Banff became Canada’s first national park with the charming town of Banff located in the heart of it. This mountain town of about 8,000 residents is truly world-famous and a joy to call home. Residency is limited by Parks Canada “Need to Reside Clause” as one is regulated to either own a business or be working in the National Park. When one is buying a home or any real estate transaction in Banff, be it a townhouse, house, condominium, apartment, or lot in Banff, it is important to understand this clause. With tourism as the main industry, many people commute between Banff and Canmore daily. Banff is home to the Banff Centre for the Arts, the Fairmont Banff Springs, Parks Canada, and many other hotels and restaurants. The lifestyle that comes with living in Banff is second to none; skiing, golf, hiking, biking, and fishing all lay at your doorstep. With a nightlife that consists of casual pints, fine dining, live music, skating on the river, theater, or the arts there is always something happening in town. The world-famous Banff Springs Golf Course is right in town and Mount Norquay Ski Resort is at the end of town. Sunshine Village and Lake Louise ski resorts are a quick drive west of town and offer world-class alpine skiing. Banff is like few other places to call home. Want to know more about living in Banff, buying a home, or real estate in Banff? Christopher and Laura look forward to chatting with you, you can contact them here.

01/

Let’s connect

Name

Phone

E-mail Address

Your Message

Middle Name

By providing Vincent & Wright Group | Sotheby's International Realty Canada your contact information, you acknowledge and agree to our Privacy Policy and consent to receiving marketing communications, including through automated calls, texts, and emails, some of which may use artificial or prerecorded voices. This consent isn’t necessary for purchasing any products or services and you may opt out at any time. To opt out from texts, you can reply, ‘stop’ at any time. To opt out from emails, you can click on the unsubscribe link in the emails. Message and data rates may apply.

EM

Christopher Vincent

Senior Vice-President | Sales

Chris prides himself on his knowledge of the Canmore and Banff real estate markets.

[email protected]

403.707.8048

EM

Laura Wright

Senior Vice-President | Sales

Her passion for real estate and desire to help others keeps her going strong.

[email protected]

403.679.1702

01/