140 Library Ln
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...Luxury, Land, and Location in the Heart of Banner Elk
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.
- Listed by Corrinne Loucks • 828 Real Estate • (828) 386-6047
Property Details for 140 Library Lane
Property Details for 140 Library Lane
| Status | Active |
|---|---|
| MLS # | 256603 |
| Days on Market | 178 |
| Taxes | $4,564 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Single Family |
| MLS Type | Residential / Single Family Residence |
| Year Built | 1897 |
| Lot Size | 2.70 AC / 117,612 SF |
| County | Avery County |
Location
Virtual Tour
Building Information for 140 Library Lane
Payment Calculator
$10,258 per month
30 year fixed, 6.28% Interest
$9,878
$380
$0
Property Information for 140 Library Lane
- Directions: At the light at the end of Main Street in downtown Banner Elk, Take a left on 194, Left on Lees-McRae Dr, 1st Right on Library Lane. Home is 1st driveway on the Right adjacent to the Lees McRae Library
- Road Surface Type: Gravel, Paved
- Postal Code: 28604
- Road Frontage Type: PrivateRoad
- MLS Area Major: 8-Banner Elk
- MLS Area Minor: Banner Elk
- Parcel Number: 1859-17-00-9120-00000
- Additional Parcels Description: 1859-17-10-1065-00000
- Association: No
- Tax Annual Amount: $4,564
- Tax Book Number: 343/899
- Tax Legal Description: 2.63 AC
- Elementary School: Banner Elk
- High School: Avery County
- Attached Garage: Yes
- Garage: Yes
- Garage Spaces: 2.0
- Virtual Tour URL Unbranded: https://www.youtube.com/watch?v=FpRzVfyTmQ0
- Above Grade Finished Area: 3723.0
- Below Grade Finished Area: 0.0
- Lot Size Acres: 2.7
- Lot Size Area: 2.7
- Lot Size Units: Acres
- Living Area: 3723.0
- Other Structures: GuestHouse, LivingQuarters, Sheds
- Year Built: 1897
- Documents Available: Disclosures, LeadBasedPaintDisclosure, SellersPropertyDisclosure
- Human Modified: No
- Sewer: PublicSewer
- Utilities: CableAvailable, HighSpeedInternetAvailable
- Water Source: Public
- Exterior Features: Storage, GravelDriveway
- Community Features: LongTermRentalAllowed, ShortTermRentalAllowed
- Construction Materials: VinylSiding, WoodFrame
- Foundation Details: Basement
- Patio And Porch Features: Covered, Multiple, Open, Patio, Stone
- Roof: Architectural, Shingle
- Levels: Two
- Stories: 2
- Stories Total: 2
- Flooring: Wood
- Basement: Yes
- Basement: InteriorEntry, Partial, Unfinished
- Bathrooms Full: 3
- Bathrooms Half: 0
- Bathrooms Total: 3
- Bedrooms Total: 4
- Cooling: Yes
- Cooling: CentralAir, Other, SeeRemarks, Zoned
- Heating: Yes
- Heating: Electric, ForcedAir, Fireplaces, Gas, HotWater, RadiantFloor, WoodStove
- Fireplace: Yes
- Fireplaces Total: 3
- Fireplace Features: Three, Stone, Vented, Gas
- Laundry Features: WasherHookup, DryerHookup, MainLevel
- Appliances: Dryer, Dishwasher, ElectricRange, ElectricWaterHeater, MicrowaveHoodFan, Microwave, Refrigerator, Washer
- Interior Features: Attic
- Window Features: DoublePaneWindows, WoodFrames
Property History for 140 Library Lane
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Sep 25, 2025 | Price Change High Country Association of REALTORS #256603 | $1,999,000 | — |
| Jun 30, 2025 | Listed (Active) High Country Association of REALTORS #256603 | $2,200,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 09/25/2025 | Price Change High Country Association of REALTORS #256603 | $1,999,000 |
| 06/30/2025 | Listed (Active) High Country Association of REALTORS #256603 | $2,200,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 140 Library Lane
Schools near 140 Library Lane
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 12 |
Rating | School | Distance |
|---|---|---|
Banner Elk Elementary School PublicPK to 5 | ||
Cranberry Middle School Public6 to 8 | ||
Avery County High School Public9 to 12 | ||
Blue Ridge Academy Public6 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of 828 Real Estate
Based on information from one of the following Multiple Listing Services: Canopy MLS,High Country Association of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Canopy MLS,High Country Association of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
