Retail for Sale — Old City, Nanaimo, BC
$2,300,000
291 Wallace St, Nanaimo, BC V9R5B4
Property details
Structured details
- Ownership
- Freehold
- Zoning
- DT2
- Annual property tax
- $8,323
- Structure type
- Retail
- Parcel ID (PID)
- 001-792-261
Listing Information
- MLS®
- 1033639
- Listed
- April 29, 2026
- Time on market
- 138 days
- Data last synced
- September 15, 2026
- Source
- CREA DDF®
Description
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. (id:63159)
Financing calculator
Estimate your monthly payment on the $2,300,000 asking price.
Financing details
- Monthly debt service
- $22,324
- Cash required at close
- $485,000
- DSCR
- —
- Cash-on-cash return (yr 1)
- —
Pure arithmetic, no market assumptions — informational only, not financial advice. Enter your own stated SDE/EBITDA above to see DSCR and cash-on-cash return.
Location
Local market size (Nanaimo)
- Population
- 99,863(+10.3% since 2016)
- Population density
- 1,104.1/km²
- Median household income
- $75,500
Source: Statistics Canada, 2021 Census of Population.
Education
- Bachelor's degree or higher
- 23.4%
- Postsecondary below bachelor's
- 32.6%
- High school diploma
- 30.5%
- No certificate/diploma
- 13.5%
Population aged 15 and over.
Commute
- Car, truck or van
- 86.8%
- Public transit
- 4.0%
- Walked
- 5.2%
- Bicycle
- 1.4%
- Other
- 2.6%
Commute duration
- Under 15 min
- 45.9%
- 15–29 min
- 36.0%
- 30–44 min
- 10.4%
- 45–59 min
- 3.0%
- 60+ min
- 4.7%
Employed labour force with a usual workplace.
Mother Tongue
Top 10 mother tongues reported (single responses).
Nearby Places
Restaurants (5+)
- Flamez Chicken · 299 Wallace Street9m
- La Stella Trattoria · 321 Wesley Street117m
- Bistro Taiyo · 321 Wesley Street124m
- The Masala Culture · 428 Fitzwilliam Street153m
- Waffle Magic · 427 Fitzwilliam Street156m
Cafes (5+)
- Real Food Café · 321 Wesley Street130m
- Bocca Café · 427 Fitzwilliam Street163m
- Kitties and Cream · 437 Fitzwilliam Street180m
- Modern Café · 221 Commercial Street251m
- White Rabbit Coffee Co · 321 Selby Street252m
Grocery (5+)
- The Green Store: Discount Organic · 256 Wallace Street43m
- ManLee Oriental · 385 Terminal Avenue209m
- Levant Foods · 56 Victoria Crescent468m
- Thrifty Foods · 650 Terminal Avenue582m
- Superette660m
Shopping (2)
- London Drugs · 650 Terminal Avenue559m
- Port Place Shopping Centre · 650 Terminal Avenue567m
Parks (5+)
- Lions Square Park · 280 Wallace Street33m
- Dallas Square Park · 85 Front Street340m
- Bastion Square Park · 94 Front Street377m
- Catherine Gisborne Garden380m
- Anchor Way Park · 20 Anchor Way391m
Gyms (3)
- Iyengar Yoga Nanaimo · 335 Wesley Street151m
- Force Boxing & Fitness · 165 Fraser Street205m
- Kind Society Yoga378m
Pharmacies (2)
- Wallace Pharmacy277m
- Central Drugs390m
Banks & ATMs (5+)
- Royal Bank of Canada · 205 Commercial Street212m
- Scotiabank · 65 Commercial Street241m
- Scotiabank · 65 Commercial Street260m
- Coastal Community Credit Union · 59 Wharf Street300m
- CIBC · 650 Terminal Avenue539m
Healthcare (5+)
- Allius Services Inc.42m
- Unnamed52m
- Harbour City Physiotherapy70m
- Child & Youth Mental Health157m
- Nanaimo Forensic Psychiatric Services159m
Nearby places data: © OpenStreetMap contributors.
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All in Nanaimo →Frequently asked questions
What is the asking price for this business?
The asking price is $2,300,000.
Where is this business located?
This listing is located in Nanaimo, British Columbia.
How current is this listing?
This listing is sourced from the CREA Data Distribution Facility (DDF®) and refreshed nightly. It was last confirmed active on September 15, 2026.