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499 Wallace St
Na Old City Nanaimo V9R 5B7

$1,175,000
Commercial Sale built: 1912

Main Photo: 499 Wallace St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 919016
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Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
919016
Year Built:
1912
The Merchant's Bank of Canada building is a two-story, Free Renaissance styled Heritage building located on a prominent corner in downtown Nanaimo. The architect for the BC Legislature and Empress Hotel in Victoria designed this landmark. The building was completely renovated 2004-2006, and in 2022 installed a completely new roof and all new HVAC system. It has the main floor with high ceilings and the Vault Coffee/Bar the popular local favourite reside here. Upstairs has 7 rooms, two bathrooms and kitchen/staff room area with 5 large windows and 5 skylights. Upstairs is ideal for medical/ dental /lawyer office or any one company to use the space if owner operator looking to land a prime downtown location in the Nanaimo's Old City. Steps to city hall, the conference centre, float plans, helijet are all minutes walk away from this landmark location. With the heritage status of the building there are cost sharing programs with the city of Nanaimo to take advantage of. Don't miss out!
Property Type:
Commercial Sale
Type:
Mixed Use
Commercial Type:
Building, Land
Year built:
1912 (Age: 110)
Lease Type:
Sale Price
Listing General Location:
Na Old City, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
2,443.017 sq. ft.
Taxes:
$7,749 / 2020
Building Features:
High Traffic Area, Shopping Nearby, Transit Nearby, Visual Exposure
Construction:
Brick, Stucco
Number of Storeys:
2
Ceiling Heights:
18'
Floor finish:
Mixed
Total Building Area:
4,608 sq. ft.
Leasable Area:
4,608 sq. ft.
Commercial Area:
Downtown
Sewer:
Sewer Connected
Cooling:
HVAC
Heating:
Heat Pump, Natural Gas
Fireplace:
No
Leasehold Improvements
Display Window
City, Ocean
Main Level
0
Yes
No
Unrestricted
Assessed:
596000.0
Assessment year:
2022
Jurisdiction name:
City of Nanaimo
Legal Description:
PARCEL A (DD 416 N) OF LT 5 PLAN 584 BLK 21 SEC 1 NANAIMO DISTRICT
Zoning:
dt-7
Occupancy:
Tenant
Utilities:
Natural Gas Connected
Lot Site Features:
Central Location, Corner Lot, Curb & Gutter, Serviced, Shopping Nearby, Sidewalk
Total Parking Spaces:
0
Road Frontage Type:
Street
Road Surface Type:
Paved
Total Units:
6
Date Listed:
Nov 11, 2022
Original Price:
1175000.0
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Data was last updated November 30, 2022 at 10:05 PM (UTC)
Area Statistics
Listings on market:
19
Avg list price:
$999,000
Min list price:
$69,900
Max list price:
$4,980,000
Avg days on market:
100
Min days on market:
7
Max days on market:
302
These statistics are generated based on the current listing's property type and located in Na Old City. Average values are derived using median calculations.
MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.