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Listing by John Hankins 460 Commercial Inc.
$2,300,000
Est. payment /mo
6,276 SqFt
Active
291 Wallace St Nanaimo, BC V9R 5B4
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Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 6,276 sqft
Price per Sqft $366
MLS Listing ID 1033639
HOA Y/N No
Annual Tax Amount $8,323
Tax Year 2025
Property Sub-Type Retail
Property 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.
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.
Location
Province BC
County Nanaimo Regional District
Community Na Old City
Area Nanaimo
Zoning DT2
Interior
Fireplace No
Exterior
Parking Features On Site
View Y/N false
Garage No
Others
Ownership Freehold
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