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.
Address
880 Hecate St
List Price
$799,000
Property Type
Commercial Sale
Type of Dwelling
Mixed Use
Area
Nanaimo
Sub-Area
Na Old City
Lot Size
9405 Ac.
Lot Size (Acres)
0.22 Ac.
MLS® Number
996780
Listing Brokerage
RE/MAX of Nanaimo
Postal Code
V9R 4K6
Tax Amount
$5,916.00
Tax Year
2024
Features
Electric, Laminate, Linoleum
Amenities
Fencing: Partial
