291 Wallace St - Main photo, Nanaimo, British Columbia

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$2,300,000

291 Wallace St — Nanaimo, British Columbia

V9R5B4

6,276Sq Ft

About This Property

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. (id:63357)

Property Location

Map

Property Details

Property Type: Detached
Building Area: 6,276 square feet
Status: Active

Location & Neighborhood

What's nearby 291 Wallace St

Nearby Schools

Katie's Korner Childcare
elementary
0.2 km
Sprott Shaw College
post_secondary
0.3 km
Jolly Giant Childcare
elementary
0.4 km

Parks & Recreation

Transit Access

Fitzwilliam at Wesley (EB)
Bus Stop
64m
Wallace at Fitzwilliam (SB)
Bus Stop
65m
Fitzwilliam at Wesley (WB)
Bus Stop
86m
Bastion at Skinner (EB)
Bus Stop
0.2 km
Bastion at Skinner (WB)
Bus Stop
0.2 km

Local Amenities

Dining

Flamez Chicken9m
La Stella Trattoria0.1 km

Grocery

The Green Store: Discount Organic43m

Coffee & Cafes

Real Food Café0.1 km
Bocca Café0.2 km

Fitness

Iyengar Yoga Nanaimo0.2 km

POI data updated 4/29/2026

Nanaimo Market Snapshot

791

Active Listings

$750K

Median Price

Avg Days on Market

Last updated: Apr 29, 2026

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Listed by

460 Commercial Inc.

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$2,300,000