531 2nd Street, Nanaimo, NA V9R 1X7

$479,000
List Price
$479,000
MLS#
434579
Acres
0.25

Property Description

Attention Builders/Developers! Versatile 0.25 Acre Development property, in the heart of the University District of Nanaimo. The property is an assembly of 3 separately titled lots: One 500 meter squared residential (Rlb) building lot fronting 2 streets - which could potentially be rezoned duplex; and 2 commercial (CC1) lots totaling 500 meters squared where the Fairview Convenience Store currently sits. The CC1 zoning provides for small scale and community services within neighbourhoods & allows mixed commercial/residential up to 3 levels. If the store was demo'd, you could build commercial at street level and 1 or more residential units up - ideal income property or live & work situation. The CC1 zoning also allows for one single family dwelling/lot subject to floor area ratio and lot coverage constraints. So, you could potentially get 4 doors on this property at a time when huge premiums are being paid for residential building lots. Possession: "As is, where is".

Additional Information

Lot Size
10,890
Lot Features
Central location, Easy Access, Highway Access, Shopping Nearby, Sidewalk, Recreation Nearby, Hydro to Lot
Office Name
Coldwell Banker Slegg Realty (Nan)

Listing courtesy of Coldwell Banker Slegg Realty (Nan).

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing content Copyright 2018 Vancouver Island Real Estate Board. The above information is from sources deemed reliable, but should not be relied upon without independent verification.