535 Nicol St, Nanaimo, BC V9R 4T5
535 Nicol St, Nanaimo, BC V9R 4T5
535 Nicol St, Nanaimo, BC V9R 4T5
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Office RE/MAX Generation

Office RE/MAX Generation

+1(250) 294-6683
Listing by Jason Winton Colliers International (Nan)
$2,600,000
Est. payment /mo
0.6 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1046245

HOA Y/N No

Annual Tax Amount $9,073

Tax Year 2026

Lot Size 0.600 Acres

Acres 0.6

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 Old City

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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