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$4,200,000

Est. payment - /mo

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0.61 Acres Lot

Active

535 Nicol St Nanaimo, BC V9R 4T5

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Kyle Kerr

kyle@initiumre.com +1(250) 818-5595

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 992775

Rental Info Unrestricted

Annual Tax Amount $11,802

Tax Year 2024

Lot Size 0.610 Acres

Acres 0.61

Property Sub-Type Multi Family

Property Description

Colliers is pleased to offer for sale 535 Nicol Street, a 26,397 SF multi family 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

Area Na South Nanaimo

Zoning COR1

Exterior

Parking On Site 1

Others

Tax ID 032-438-397

Ownership Freehold

Listed by Colliers International (Nan)

I have bought a house with Kyle Kerr as my realtor and it was a smooth professional experience. I specifically like working with a realtor like him who responds fast and communicates clearly to any questions I have promptly. He was also my realtor for the sale of my condo recently and the photographer was great and I had wonderful pictures. It sold above listing price within a day and his staff were also in contact to assist in this transaction

+1(250) 818-5595

info@initiumre.com

505 Dalton St, Victoria, V9A, 4B1