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$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
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)
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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.
| Tenant | Area | Expiry |
|---|---|---|
| Lakeview Physiotherapy | 21,597 SF | 2028-02 |
| Lakeview Physiotherapy | 20,384 SF | 2028-02 |
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.
Confidential diligence documents for 13 Victoria Cres, Nanaimo.
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.