347 Wesley St Nanaimo, British Columbia V9R 3A7
$1,899,998
Investment Property Opportunity! Purchase this fully leased building showing a great annual return of $102,000.00 with a Cap rate over 5% at the asking price. Now with a newer 5-year lease and options to renew lasting until 2043. The building is situated in Nanaimo’s Vibrant Old City Quarter area and is occupied by one of the city’s most popular award-winning restaurants “Asteras Greek Taverna.” The building was originally built in 1912 and raised and renovated in 1996 with further renovations in 2008 to its current operation. There is a 2-bedroom, 2-bathroom apartment suite on the top floor included which is rented month to month. The building is set back on the lot allowing parking in the front and on the street. The 2-level building is +/- 3405 square feet in size plus a basement storage area. The owner states the roof is newer and is a hands-off operation. “Please do not disturb the tenant and business operation!” Call for further details and information. All measurements and data is approximate and to be verified if important. (id:32872)
Property Details
| MLS® Number | 948598 |
| Property Type | Other |
| Neigbourhood | Old City |
| Plan | Vip584 |
Building
| Constructed Date | 1912 |
| Size Exterior | 3405 Sqft |
| Type | Commercial Mix |
Land
| Acreage | No |
| Size Irregular | 5280 |
| Size Total | 5280 Sqft |
| Size Total Text | 5280 Sqft |
| Zoning Description | Dt2 |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/26296396/347-wesley-st-nanaimo-old-city
Interested?
Contact us for more information
Michael Peterson
Personal Real Estate Corporation
www.nanaimopropertygroup.ca/
https://@nanaimopropertygroup/
#1 - 5140 Metral Drive
Nanaimo, British Columbia V9T 2K8
(250) 751-1223
(800) 916-9229
(250) 751-1300
www.remaxofnanaimo.com/
Deana Baumel
Personal Real Estate Corporation
www.nanaimopropertygroup.ca/
https://@nanaimopropertygroup/
#1 - 5140 Metral Drive
Nanaimo, British Columbia V9T 2K8
(250) 751-1223
(800) 916-9229
(250) 751-1300
www.remaxofnanaimo.com/
Dimitrios Nivolianitis
#400 - 4370 Dominion Street
Burnaby, British Columbia V5G 4L7
(604) 801-5577
www.dienrealty.com/
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
December 13 2023 07:42:02
Vancouver Island Real Estate Board
RE/MAX Of Nanaimo, RE/MAX Heights Realty