291 Wallace St
Nanaimo, British Columbia
MLS® 1033639
$2,300,000
- Status
- Active
- Property type
- Retail
- MLS® number
- 1033639
- Bedrooms
- —
- Bathrooms
- —
- Year built
- —
1 / 9Listing description
Excellent opportunity to acquire a multi-tenanted retail investment at the gateway to Nanaimo’s historic Gallery Row. The Property comprises two adjacent titled lots improved with a predominantly single-storey retail building, offering strong street exposure and a diverse tenant mix. The asset provides stable in-place income with additional upside through lease-up of one vacant unit.
Located within a vibrant downtown node, the Property benefits from consistent pedestrian activity and is supported by significant nearby residential developments, including a 195-unit and a 163-unit project. The building is listed on the City of Nanaimo Community Heritage Register, contributing to the character of the Old City Quarter. Offered at $2,300,000, reflecting an approximate 5.
69% stabilized cap rate. Further information available upon execution of a confidentiality agreement.
Property summary
- MLS® number
- 1033639
- Property type
- Retail
- Building type
- Retail
- Title
- Freehold
- Annual property taxes
- $8,323.00
- Days on market
- 124 days
What would this home cost you?
Based on the $2,300,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of 460 Commercial Inc., Nanaimo.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.