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347 Wesley St
Na Old City Nanaimo V9R 3A7

$1,899,998
Commercial Sale built: 1912

Main Photo: 347 Wesley St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 948598
Photo 1: 347 Wesley St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 948598
Photo 2: 347 Wesley St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 948598
Status:
Active
Prop. Type:
Commercial Sale
MLS® Num:
948598
Year Built:
1912
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. With a 5-year lease & 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 raised and renovated in 1996 with further renovations in 2008 to its current operation. There is a 2-bedroom, 2-bathroom apartment on the top floor 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.
Property Type:
Commercial Sale
Type:
Mixed Use
Commercial Type:
Building, Land
Year built:
1912 (Age: 112)
Lease Type:
See Remarks
Close Price Lease Total:
Existing Lease Expiry:
Listing General Location:
Na Old City, Nanaimo
Bathrooms:
- (Full:-/Half:-)
Lot Size:
5,280.037 sq. ft.
Taxes:
Construction:
Frame Wood
Ceiling Heights:
Total Building Area:
3,405 sq. ft.
Commercial Area:
Fireplace:
No
Pending Date:
Main Level
0
Yes
No
Unrestricted
Financing Notes:
Assessed:
Assessment year:
Approximate Inventory Value:
Fixed Equipment Approx. Value:
Goodwill Approx. Value:
Gross Income:
Net Operating Income:
Association Fee:
Association Fee Frequency:
Jurisdiction name:
City of Nanaimo
Legal Description:
Zoning:
DT2
Units in Building:
Units in Community:
Occupancy:
Tenant
Parking Features:
On Site
Total Units:
Date Listed:
Nov 20, 2023
Original Price:
1899998.0
  • Photo 1: 347 Wesley St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 948598
    Photo 1 of 2
  • Photo 2: 347 Wesley St in Nanaimo: Na Old City Mixed Use for sale : MLS®# 948598
    Photo 2 of 2
Listed by RE/MAX of Nanaimo
Data was last updated May 29, 2024 at 10:05 AM (UTC)
Area Statistics
Listings on market:
34
Avg list price:
$912,350
Min list price:
$49,500
Max list price:
$4,880,000
Avg days on market:
92
Min days on market:
15
Max days on market:
364
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.