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140 Library Lane, Banner Elk, NC 28604

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For Sale

$2,200,000

4 beds • 3 baths • 3,723 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Single Family Detached
    Property type

  • $590.92
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

A Historic Lees-McRae Legacy with Timeless Character, Modern Comforts, and Unmatched Location! Rich in history and full of enduring charm, 140 Library Lane was the home of Reverend Edgar Tufts, founder of Lees-McRae College. Perfectly positioned in the heart of Banner Elk and adjacent to the vibrant downtown scene town park, restaurants, boutique shops, theaters, galleries, and a yoga studio plus seasonal attractions like the Farmer s Market, concerts, festivals, and parades. Yet, despite its incredible convenience, the property offers 2.7 acres of privacy with sweeping mountain vistas, creating a peaceful retreat just steps from it all. This stately 5-bedroom, 4-bath home (including a separate 1-bedroom, 1-bath fully furnished guest apartment over the garage) showcases old-world craftsmanship with original wood floors, solid wood doors, wide baseboards, and beautiful wormy chestnut trim. Three grand stone fireplaces now converted to natural gas anchor the living spaces, complemented by a wood-burning stove for rustic charm and warmth. Modern upgrades blend seamlessly into the home s character: new appliances, updated siding and windows (post-hurricane), a large new deck tucked among the trees, and two spacious storage sheds for added convenience. The two-car garage is wired for an electric vehicle, and a large workshop/studio with a 220v/45 amp outlet is ideal for creative or professional projects. The grounds are equally enchanting, offering peaceful vignettes: a welcoming stone front porch, multiple stone patios, a swing beside a quiet pond, blooming flower gardens, rhododendron groves and stone walkways that invite you to explore. Currently zoned R-2, the property allows accessory buildings, accessory dwellings, home occupations, and other special uses. With direct frontage on Highway 194 and surrounded by campus, rezoning for commercial or institutional use is also viable, subject to town approval. Lovingly stewarded by the Tufts family for over 125 years, 140 Library Lane is more than a home it is a landmark, a story, and a rare opportunity to own a piece of Banner Elk s soul.
MLS# 256603

Courtesy Of 828 Real Estate

(828) 386-6047

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    New Traditional
  • Lot Size
    2.7 Acres

Map and Directions

Directions to 140 Library Lane, Banner Elk, NC 28604

Home seller CENTURY 21 Mountain Vistas

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CENTURY 21 Mountain Vistas

(828) 264-9111
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Copyright © 2025 High Country Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.