321 Grays Shadow Lane, Banner Elk NC
- 3 Bed
- 3 Bath
- 1295 ft2
- 7.3 ac
For Sale $949,900
Remarks:
RARE 7.33-ACRE MOUNTAIN RETREAT near Banner Elk consisting of two parcels and adjoining Grandfather Mountain State Park land. Recent $10,000+ driveway improvements enhance access to this unrestricted property offering an existing furnished log cabin, creek, seasonal mountain views, and potential additional building sites. With no HOA or deed restrictions and short-term rentals permitted, the possibilities range from a private mountain estate to a family compound, guest cabins, or investment property. The centerpiece of the property is a furnished 3-bedroom, 2.5-bath log cabin offering more than 2,200 square feet of living space with a desirable open floor plan and convenient one-level living. The main living area features vaulted ceilings, warm wood accents, abundant windows for natural light, and a gas fireplace that creates a comfortable mountain atmosphere. The main level also includes a generously sized living room, dining area, pantry, laundry room, guest half bath, and spacious primary suite with en-suite bathroom and walk-in closet. A large 550+ square foot deck is accessible from both the main living area and primary bedroom, providing excellent outdoor living space surrounded by the property's natural mountain setting. Wiring is already in place for a hot tub. Upstairs are two additional bedrooms, a full bathroom, and a large loft area offering flexible space for guests, an office, game room, or second living area. A basement garage/workshop offers valuable space for vehicles, outdoor equipment, hobbies, or recreational gear. Outdoor living areas provide opportunities to relax and take in the surrounding woods, seasonal mountain scenery, and natural beauty of the property. The land is an especially distinctive part of this offering, with a mix of flat and gently sloping terrain, mature woods, beautiful rock outcroppings, a mountain creek, and potential additional building sites. Seasonal mountain views may be enhanced with selective tree work. The property's two-parcel configuration provides additional flexibility for future use or expansion, subject to applicable approvals. Located approximately midway between Boone and Banner Elk, this Foscoe property offers convenient access to many of the High Country’s most popular destinations, including Grandfather Mountain, the Blue Ridge Parkway, Valle Crucis, skiing, hiking, dining, shopping, vineyards, and year-round recreation. With light Foscoe-Grandfather zoning, no HOA, no deed restrictions, and both short- and long-term rentals permitted, this property offers unusual flexibility for personal use, investment, or future buildout. Whether you are searching for acreage, privacy, unrestricted mountain property, development flexibility, or a furnished cabin with room to grow, 321 Grays Shadow Lane offers a rare opportunity to own a substantial piece of the High Country in an exceptional location.
General Information:
| List Price: | $949,900 |
| Status: | For Sale |
| Bedrooms: | 3 |
| Type: | Single Family Residence |
| Approx Sq. Ft.: | 1295 sqft |
| Parking: | Basement |
| MLS Number: | CAR4402280 |
| Subdivision: | none |
| Style: | Cabin |
| Bathrooms: | 3 |
| Lot Description: | Adjoins Forest, Hilly, Level, Sloped, Creek/Stream, Views, Wooded |
| Year Built: | 2002 |
| Sewer Type: | Septic Installed |
Assigned Schools:
| Elementary: | Valle Crucis |
| Middle: | Valle Crucis |
| High: | Watauga |
Lane Yates
704-232-7238
Broker In Charge
Price & Sales History
| Date | Event | Price | $/SQFT |
| 09-30-2026 | Price Decrease | $949,900-5.01% | $734 |
| 09-04-2026 | Price Decrease | $999,999-9.09% | $773 |
| 07-21-2026 | Listed | $1,100,000 | $850 |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| Grandfather Academy | 5 miles | 01-07 | 1 |
| Valle Crucis Elementary | 5 miles | PK-05 | 8 |
| Blowing Rock Elementary | 7 miles | KG-06 | 10 |
| Cove Creek Elementary | 9 miles | PK-05 | 7 |
| Hardin Park Elementary | 9 miles | PK-05 | 9 |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Properties For Sale Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Status | List Price | Days on Market |
| 321 Grays Shadow Lane, Banner Elk NC | 0 mi | $949,900 | days | |
| 556/558 Thorncliff Drive, Seven Devils NC | 1.2 mi | $1,199,000 | days | |
| 560 Laurel Ridge Road, Banner Elk NC | 1.2 mi | $344,900 | days |
Sold Properties Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Property Type | Sold Price | Property Details |
Commute Distance & Time
Powered by Google Maps
Mortgage Calculator
$
%
%
| Down Payment Amount | $990,000 |
| Mortgage Amount | $3,960,000 |
| Monthly Payment (Principal & Interest Only) | $19,480 |
* Expand Calculator (incl. monthly expenses)
| Property Taxes |
$
|
| H.O.A. / Maintenance |
$
|
| Property Insurance |
$
|
| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28604
|
Occupancy Types |
|
Transportation to Work |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Property Listing Information
A Courtesy Listing Provided By Wright Brokers with Hyatt in the High Country
321 Grays Shadow Lane, Banner Elk NC is a 1295 ft2 on a 7.330 acres lot. This is for $949,900. This has 3 bedrooms, 3 baths, and was built in 2002.
Based on information submitted to the MLS GRID as of 2026-07-21 02:13:28 EST. All data is
obtained from various sources and may not have been verified by broker or MLS GRID. Supplied
Open House Information is subject to change without notice. All information should be independently
reviewed and verified for accuracy. Properties may or may not be listed by the office/agent
presenting the information. Some IDX listings have been excluded from this website.
Properties displayed may be listed or sold by various participants in the MLS.
Click here for more information
Neither Yates Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
Share
