Acquire a stabilized investment property in the heart of Nanaimo’s Old City District. Situated prominently on the southeast corner of Cavan Street and Albert Street, this property is fully leased to Doane Grant Thornton LLP, providing secure income with a 5.10% cap rate. The current lease term runs until September 2026. Originally constructed in 1949 by the Provincial Government, the building is a distinguished example of Streamline Moderne architecture and carries Heritage designation, underscoring its historical significance. Ample pay or permit parking available in 2 adjacent lots. (id:60626)
| MLS® Number | 1013945 |
| Property Type | Office |
| Neigbourhood | Old City |
| Plan | Vip62150 |
| Size Exterior | 6802 Sqft |
| Type | Offices |
| Acreage | No |
| Size Irregular | 7007 |
| Size Total | 7007 Sqft |
| Size Total Text | 7007 Sqft |
| Zoning Description | Dt9 |
| Zoning Type | Unknown |
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