For Sale · Office

13 Victoria Cres, Nanaimo

13 Victoria Cres, Nanaimo, BC V9R5B9

$2.5M total

50,037 SF

Asset Class

Office

Size

50,037 SF

Building class

C

Zoning

CO — Commercial Office

$ / SF

$50

Occupancy

84%

Year Built

1957

Lot Size

0.79 ac

About this property

Prime Downtown Opportunity in Nanaimo, extensively upgraded property featuring approximately 50,000 sq. ft. of thoughtfully designed and turnkey office space. Perfectly positioned in the heart of downtown Nanaimo on Vancouver Island, this rare opportunity offers exceptional potential for businesses seeking a central and professional location. The property comprises seven distinct units, each tailored for substantial office use, with configurations ranging from 3 to 18 offices per unit. Each unit boasts a variety of functional amenities such as staff rooms, kitchens, reception areas, waiting rooms, washrooms and ample storage solutions. Building is equipped with an on-site workshop, and a cafeteria/restaurant. Spread across two floors with two convenient access points, the property is zoned Downtown 4 (Terminal Avenue), allowing for diverse uses such as offices, financial institutions, commercial or technical schools, convention centers, and cultural facilities. Adding to its appeal, the location is within walking distance of numerous amenities, including the Hullo Ferry to downtown Vancouver, floatplane services, Helijet, the Gabriola Island Ferry, hotels, entertainment venues, the convention center, shopping centres, retail stores, personal service businesses, and a variety of restaurants. This is a rare opportunity in a prime downtown location. For more details, request an information package or schedule a private tour today. Plus GST. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.50M
Down payment30% · $749K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$12K

Projected NOI

$119K

Annual cash flow

$-20K

Cash-on-cash

-2.61%

DSCR

0.86

Going-in cap

4.76%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Lakeview Physiotherapy21,597 SF2028-02
Lakeview Physiotherapy20,384 SF2028-02

Area demographics

Trade area within 3 miles of the property.

Population

121,078

Households

42,536

Median income

$63,000

Median age

36.1

Daytime population

115,298

5-yr growth

6.3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 13 Victoria Cres, Nanaimo.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.