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Listing by Jason Winton Colliers International (Nan)
$3,500,000
Est. payment /mo
0.61 Acres Lot
Active
535 Nicol St Nanaimo, BC V9R 4T5
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1008222
HOA Y/N No
Annual Tax Amount $11,802
Tax Year 2024
Lot Size 0.610 Acres
Acres 0.61
Property Sub-Type Multi Family
Property Description
Colliers is pleased to offer for sale 535 Nicol Street, a 26,397 SF multifamily development site in Nanaimo, BC, ideally located near the waterfront and downtown, with convenient access to University Village Mall and Port Place Mall. The property is development-ready, having been rezoned to Residential Corridor (COR1) from R1 and COR3, allowing for a six-story building (up from the previous four-story limit) and a Floor Area Ratio (FAR) of up to 2.90 (previously 1.50). This rezoning process, completed by the vendor over 20 months, saves significant time and costs for the new owner. Additionally, the vendor has consolidated the properties at 120 Needham Street and 515, 535, 545, and 575 Nicol Street into a single parcel at 535 Nicol Street. Conceptual plans for a six-story, 127-unit development are available upon request
Location
Province BC
County Nanaimo, City Of
Community Na South Nanaimo
Area Nanaimo
Zoning COR1
Interior
Fireplace No
Exterior
Parking Features On Site
View Y/N false
Garage No
Others
Ownership Freehold
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