Prime multifamily, commercial, mixed use development site in the heart of downtown Nanaimo. Elevated ocean, city and distant coastal mountain view site offered in a prominent, desirable location at the corner of Wallace and Fitzwilliam Street. Zoned DT2, multiple commercial and residential uses are permitted with 100% site coverage with a maximum height of 4m. This unique property offers high visibility on the main corridor connecting downtown Nanaimo, the waterfront, seawall, seaplane terminal, Inland Island Highway, VIU, Ice Centre and Aquatic Centre. The site neighbours Wesley Quarter with destination dining options, shops, and professional office buildings. Directly across the road is Bastion Bridge meandering to the city centre shopping, dining, hotel and entertainment hub. This is a great site ready for your multi-level project. The seller may consider some vendor financing for a qualified buyer to help see a project through to fruition.
Address
311 Wallace St
List Price
$899,000
Property Type
Commercial Sale
Type of Dwelling
Unimproved Land
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Old City
Lot Size
16770 Sq. Ft.
Lot Size (Acres)
0.38 Ac.
MLS® Number
1017831
Listing Brokerage
Macdonald Commercial Real Estate Services Ltd.
Postal Code
V9R 5B6
Tax Amount
$27,647.00
Tax Year
2025
Amenities
Adult-Oriented Neighbourhood, Central Location, Cleared, Corner Lot, Cul-De-Sac, Curb & Gutter, Easy Access, Family-Oriented Neighbourhood, Marina Nearby, Near Golf Course, No Through Road, Recreation Nearby, Serviced, Shopping Nearby, Sidewalk