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. (id:4069)
Address
291 Wallace St
List Price
$2,300,000
Property Type
Retail
Transaction Type
Sale
Area
British Columbia
Sub-Area
Nanaimo
MLS® Number
1033639
Listing Brokerage
460 Commercial Inc.
Postal Code
V9R5B4
Zoning
DT2
