A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, featuring flexible COR2 zoning, which supports street-oriented, medium-density residential and mixed-use development along major corridors.
The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site’s suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale.
With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo’s growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential.
Address
3801 Shenton Rd
List Price
$1,400,000
Property Type
Commercial Sale
Type of Dwelling
Unimproved Land
Transaction Type
Sale
Area
Nanaimo
Sub-Area
Na Diver Lake
Lot Size
32722 Sq. Ft.
Lot Size (Acres)
0.75 Ac.
MLS® Number
1024041
Listing Brokerage
RE/MAX Camosun
Postal Code
V9T 2H1
Tax Amount
$20,755.55
Tax Year
2025