Forgot password Extend Verify Contact
Main Photo: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 1: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 2: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 3: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 4: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 5: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 6: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 7: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 8: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Photo 9: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
1033639
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.
Property Type:
Commercial Sale
Type:
Retail
Commercial Type:
Building, Land
Lease Type:
Sale Price
Listing General Location:
Na Old City, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
0 sq. ft.
Taxes:
$8,323 / 2025
Total Building Area:
6,276 sq. ft.
Leasable Area:
6,276 sq. ft.
Commercial Area:
Downtown
Fireplace:
No
Main Level
0
Yes
No
Unrestricted
Assessed:
1493000.0
Assessment year:
2026
Jurisdiction name:
City of Nanaimo
Legal Description:
LT 1, BLK 32, SEC 1, NAN DIST, PL 584 & PID 003-693-750 THE EASTERLY 56 FT OF LT 2, BLK 32, SEC 1, NAN DIST, PL 584
Zoning:
DT2
Legal Non-Conformance:
No
Units in Building:
7
Occupancy:
Tenant
Parking Features:
On Site
Total Parking Spaces:
0
Total Units:
1
Date Listed:
Apr 29, 2026
Original Price:
2300000.0
  • Photo 1: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 1 of 9
  • Photo 2: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 2 of 9
  • Photo 3: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 3 of 9
  • Photo 4: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 4 of 9
  • Photo 5: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 5 of 9
  • Photo 6: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 6 of 9
  • Photo 7: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 7 of 9
  • Photo 8: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 8 of 9
  • Photo 9: 291 Wallace St in Nanaimo: Na Old City Retail for sale : MLS®# 1033639
    Photo 9 of 9
To access this listing,
please create a free account

Listed by 460 Commercial Inc.
Data was last updated June 26, 2026 at 04:05 AM (UTC)
Area Statistics
Listings on market:
28
Avg list price:
$824,000
Min list price:
$99,000
Max list price:
$6,000,000
Avg days on market:
131
Min days on market:
7
Max days on market:
759
These statistics are generated based on the current listing's property type and located in Na Old City. Average values are derived using median calculations. This data is not produced by the MLS® system.
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.