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Main Photo: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 1: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 2: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 3: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 4: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 5: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 6: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 7: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 8: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 9: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
1033639
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 Type:
Commercial Sale
Type:
Retail
Commercial Type:
Building, Land
Lease Type:
Sale Price
Listing General Location:
Na Old City, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
0 sq. ft.
Taxes:
$8,323 / 2025
Total Building Area:
6,276 sq. ft.
Leasable Area:
6,276 sq. ft.
Commercial Area:
Downtown
Fireplace:
No
Main Level
0
Yes
No
Unrestricted
Assessed:
1493000.0
Assessment year:
2026
Jurisdiction name:
City of Nanaimo
Legal Description:
LT 1, BLK 32, SEC 1, NAN DIST, PL 584 & PID 003-693-750 THE EASTERLY 56 FT OF LT 2, BLK 32, SEC 1, NAN DIST, PL 584
Zoning:
DT2
Legal Non-Conformance:
No
Units in Building:
7
Occupancy:
Tenant
Parking Features:
On Site
Total Parking Spaces:
0
Total Units:
1
Date Listed:
Apr 29, 2026
Original Price:
2300000.0
  • Photo 1: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
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  • Photo 2: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
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  • Photo 3: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
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  • Photo 5: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
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  • Photo 9: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
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Data was last updated April 30, 2026 at 04:05 AM (UTC)
John Hankins