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:57571)
| MLS® Number | 1033639 |
| Property Type | Retail |
| Neigbourhood | Old City |
| Size Exterior | 6276 Sqft |
| Type | Retail |
| Acreage | No |
| Zoning Description | Dt2 |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/29672073/291-wallace-st-nanaimo-old-city
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