604 Madsen Rd Nanaimo, British Columbia V9S 4M2
$2,150,000
Multi-Family development site located in Central Nanaimo on Vancouver Island zoned COR3 Commercial. This site is located in an area that has undergone unprecedented development in the last 10 years such as new multi family buildings, office buildings, and the newly built Greenrock service commercial/industrial node which includes various businesses that will service the needs of the local community within walking distance. This site is also close to the hospital, 5 min drive to the downtown core and the Vancouver Island University. The property is over 33000 sq ft (.76 acres) and is situated on a corner lot with 2 road frontages and offers a very level building site. COR3 zoning allows 60% lot coverage with a 0.75 Floor Area Ratio (FAR) with Tier 1 and Tier 2 incentives to permit additional density (buyers to do their own due diligence). The property currently has a small home on the site which could be rented while you design and plan your project. This site offers plenty of sun and once built the units will enjoy fantastic views of Mt Benson. This is a rare offering in today's market, as Nanaimo is one of the fasted growing cities in Canada where land is becoming very hard to find. Bank this land for the future and plan your next project! Information package available. (id:16027)
Property Details
| MLS® Number | 931036 |
| Property Type | Other |
| Neigbourhood | Central Nanaimo |
| Features | Southern Exposure, Corner Site, Irregular Lot Size, Partially Cleared, Other |
Building
| Size Exterior | 879 Sqft |
| Type | Commercial Mix |
Land
| Access Type | Road Access |
| Acreage | No |
| Size Irregular | 0.76 |
| Size Total | 0.76 Ac |
| Size Total Text | 0.76 Ac |
| Zoning Description | Cor-3 |
| Zoning Type | Unknown |
https://www.realtor.ca/real-estate/25559375/604-madsen-rd-nanaimo-central-nanaimo
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June 01 2023 12:41:38
Vancouver Island Real Estate Board
RE/MAX Of Nanaimo