Prime Development Opportunity in South Nanaimo Located within walking distance from downtown Nanaimo, this exceptional property presents a unique investment opportunity. Currently, the property includes a commercial space on the main floor and a 2-bedroom rental suite above, providing immediate rental income. What truly sets this property apart is the approved development permit for a Craftsman-inspired, 2.5-story "missing middle" housing project. Plans include four 1-bedroom and four 2-bedroom units, many featuring rooftop balcony access. This provides a fantastic opportunity for a developer to create a modern, high-demand multifamily property in a prime location. Don't miss this chance to invest in a property that offers both immediate returns and future development potential. All Measurements Approx. Verify if Important.
Data was last updated September 3, 2025 at 12:05 PM (UTC)
Area Statistics
Listings on market:
66
Avg list price:
$587,450
Min list price:
$249,900
Max list price:
$1,190,000
Avg days on market:
63
Min days on market:
1
Max days on market:
267
Avg price per sq.ft.:
$513.09
These statistics are generated based on the current listing's property type
and located in
Na Old City. Average values are
derived using median calculations. This data is not produced by the MLS® system.