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Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 3,723 sqft
Price per Sqft $536
MLS Listing ID 256603
Style Traditional
Bedrooms 4
Full Baths 3
HOA Y/N No
Abv Grd Liv Area 3,723
Year Built 1897
Annual Tax Amount $4,563
Lot Size 2.700 Acres
Acres 2.7
Property Sub-Type Single Family Residence
Property Description
Now offered at $1,999,000, 140 Library Lane is an exceptional in-town estate offering historic charm, modern amenities, and nearly 3 private acres—all just steps from Lees-McRae College and the best of Banner Elk.
Set on 2.97 usable in-town acres, this rare property combines walkability with privacy: stroll to Banner Elk's acclaimed dining, boutique shopping, summer concerts, Woolly Worm Festival, holiday events, greenway trails, and the college campus—yet enjoy the space and serenity of your own park-like retreat.
The 4BR/3BA historic main home showcases original character including wood floors, solid wood doors, wide baseboards, wormy chestnut trim, and three stunning stone fireplaces (converted to natural gas), balanced with thoughtful updates throughout. Modern comforts include new appliances, updated siding and windows, and a spacious new deck overlooking the lower acreage—ideal for entertaining or taking in the wooded views.
A separate 1BR/1BA fully furnished apartment above the garage offers incredible flexibility for guests, multi-generational living, or rental income. The oversized two-car garage includes an EV outlet, plus an attached workshop with 220v/45-amp service—perfect for woodworking, art, or professional use.
Outdoors, the property feels like a private park with stone patios, covered porches, blooming gardens, rhododendron groves, a spring-fed pond with swing, and room to expand. Zoned R-2, the land allows for accessory dwellings, home occupations, and more, with possible commercial or institutional rezoning (subject to approval).
A truly unique opportunity to own nearly 3 acres of history, character, and versatility right in the heart of Banner Elk and adjacent to Lees-McRae College—a combination seldom found in today's market.
Location
State NC
County Avery
Community Long Term Rental Allowed, Short Term Rental Allowed
Area 8-Banner Elk
Rooms
Basement Interior Entry, Partial, Unfinished
Interior
Interior Features Attic
Heating Electric, Forced Air, Fireplace(s), Gas, Hot Water, Radiant Floor, Wood Stove
Cooling Central Air, Other, See Remarks, Zoned
Fireplaces Number 3
Fireplaces Type Three, Stone, Vented, Gas
Fireplace Yes
Appliance Dryer, Dishwasher, Electric Range, Electric Water Heater, Microwave Hood Fan, Microwave, Refrigerator, Washer
Laundry Washer Hookup, Dryer Hookup, Main Level
Exterior
Exterior Feature Storage, Gravel Driveway
Parking Features Attached, Driveway, Garage, Two Car Garage, Gravel, Oversized, Private
Garage Spaces 2.0
Garage Description 2.0
Community Features Long Term Rental Allowed, Short Term Rental Allowed
Utilities Available Cable Available, High Speed Internet Available
View Y/N Yes
Water Access Desc Public
View Trees/Woods
Roof Type Architectural,Shingle
Porch Covered, Multiple, Open, Patio, Stone
Building
Story 2
Entry Level Two
Foundation Basement
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Additional Building Guest House, Living Quarters, Shed(s)
Schools
Elementary Schools Banner Elk
High Schools Avery County
Others
Tax ID 1859-17-00-9120-00000
Acceptable Financing Cash, Conventional, New Loan
Listing Terms Cash, Conventional, New Loan
Virtual Tour https://www.youtube.com/watch?v=FpRzVfyTmQ0
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