Well-positioned quad-plex in the heart of the High Country with ski slope views! This well maintained, multi-unit property offers four separate rental units with an unfinished heated and insulated basement that can be used for storage, or turned into two additional rentals. Property is located just minutes from Banner Elk’s restaurants, shopping, and outdoor recreation. Each unit offers its own separate entry making it great for short-term or long-term rentals. The building features charming mountain-style finishes, ample parking, and multiple decks to take in the scenic views, including a direct line of sight to the slopes. With close proximity to ski resorts, hiking trails, and year-round activities, this is a rare opportunity to own income-producing property in a high-demand area. Whether you’re expanding your investment portfolio or looking for a rare income-producing property in one of the High Country’s most desirable locations, this property is a must-see.
GREAT OPPORTUNITY to own your own building & business with rental income from apartments above. 11,000+ square feet!!! NEW ROOF IS ON!! 2 three bedroom apartments. Large retail space on ground floor with offices and loading area. Can be split up into separate units or possibly finished out as apartments as well. +/-5,500 square feet of retail/office space. Two large3 bedroom/2 bath apartments upstairs. Open storage space and another apartment upstairs as well. This well located property housed a retail business that had thrived for many years. Next to former Grandview Restaurant (now Blue Ridge Cantina) with high traffic and visibility on busy Hwy 105. THE HIGH COUNTRY IS BOOMING AND PROPERTIES LIKE THESE ARE LIMITED. Rare opportunity to have a commercial building on heavily traveled Hwy 105 and two large apartment rentals. Septic system needs to be verified for Buyers potential use.
A rare investor opportunity in Banner Elk, this property offers four rentable doors between a triplex and a separate 1-bedroom bungalow. Two of the four units have already been masterfully renovated as luxury short-term rentals, and both are proving their income potential now: the fully completed 1BR unit, “Hillside Haven,” has already earned $50K in its first year, even in a softer rental market, while the top-floor unit, “The Penthouse,” went live this fall and is actively booking. The remaining two units have been fully gutted, leaving plenty of value for the next owner to finish and scale. The third unit(main floor) is actively being completed and price will be adjusted as work continues. Current price is As-Is. Completion is estimated to be Spring 2026. Once all 4 units are complete, this property is projected to gross over $200k per year. The seller is a seasoned STR operator and consultant who has thoughtfully redesigned these spaces with intention, quality, and long-term performance in mind. Major systems and big-ticket items have already been addressed, including roof, windows, and core infrastructure, so the hard work is done. He’s selling now only to pivot focus to another local project, offering this property as-is at a price that leaves serious meat on the bone for the next investor. This opportunity is great for experienced short term rental investors who want to enter the High Country market or expand their portfolio with a standout property in a prime location. It is on the way to Beech Mountain yet a 2 minute drive to downtown Banner Elk and Lees McRae, offering tremendous guest appeal. Short term rentals are the highest and best use but long term rentals could also easily cover expenses if needed. This property is not suited for anyone seeking a turnkey property. Square footage on this listing does not reflect the unfinished units. Once completed the main home will offer 3,494sf across three levels, and the detached bungalow adds an additional 715sf of finished space(4,209sf TOTAL). This is a rare chance to step into a partially completed/partially cash-flowing, high performing STR investment with proven income and plenty of room to grow.
Beautiful 4PLEX w/BIG VIEWS of Banner Elk, Sugar Mountain and Beech Mountain! High Vaulted Ceilings, 2 Fireplaces. Upper 2 Units Sold Furnished minus seller exclusions: some Artwork, Decor & Personal Belongings. Two 2 Bedroom 2 Bathroom Units with an Efficiency Apt below each for 4 Units total. Perfect for Full-Time, Part-Time, In-laws, Guests, Short Term or Long-Term Rentals. Each unit has been completely renovated since purchased. List of Updates available. This property has lots of potential uses. Can be used as a Duplex, Triplex, 4-Plex, Large Home or even Employee Housing. Great Opportunity for an Investor and in a Great Location with Close Proximity to Ski Resorts, Restaurants, Shopping, Parks, etc. There is a 384' Clean space cold room located behind lower right-side efficiency. Covered Carport area holds 3 cars and the parking pad below is on the vacant .11 acre parcel and can hold more cars. Total acreage w the lot and 4-Plex is .39 acre. $540 A Year Road Maintenance Fee. The Virtual Tour is only for the 2 upper 2 bedroom 2 bath units. The 2 lower efficiency units are only shown in photos since currently rented and their personal contents. List of Updates completed on each unit is in the documents folder. With both efficiencies rented advanced notice needed to be shown. Both upper units can be shown short notice. The Electric is metered as a Duplex.
Banner Elk is located in North Carolina. Banner Elk, North Carolina has a population of 1,350. Banner Elk is less family-centric than the surrounding county with 10.75% of the households containing married families with children. The county average for households married with children is 23.97%.
The median household income in Banner Elk, North Carolina is $58,333. The median household income for the surrounding county is $46,383 compared to the national median of $69,021. The median age of people living in Banner Elk is 21.5 years.
The average high temperature in July is 74.5 degrees, with an average low temperature in January of 19.7 degrees. The average rainfall is approximately 55 inches per year, with 41.5 inches of snow per year.
