For Sale - Waterfront Commercial & Marina with Development Potential

Presenting the opportunity to acquire a revenue-generating oceanfront asset offering value-add potential and redevelopment opportunity along Nanaimo’s bustling eastern shoreline. The opportunity consists of freehold interest in eight PIDs totalling approximately 13,443 square feet of land set astride Stewart Avenue, along with a leasehold interest in a six acre floating marine improvement, which includes approximately one acre of filled foreshore. Currently, the properties are tenanted by several businesses, including a marina, generating stable holding income. Included in the offering is a vacant commercial building known as 1521 Stewart Avenue, providing potential for an immediate increase in revenue. 

The properties feature mixed zoning CC1 & W2:
 - CC1 (Community Corridor 1) zoning allows for small-scale commercial and community-oriented services.
 - W2 (Waterfront) zoning supports a range of marine-related uses as well as medium-density residential development up to four storeys.

A development feasibility study for a mixed-use commercial and residential project is available for review in the Data Room. Financial documentation, including the rent roll is available for review in the Data Room.

Location

The subject property is adjacent to Departure Bay, meters from the BC Ferries Terminal and a short drive to Downtown Nanaimo. Positioned astride Stewart Avenue on land and Newcastle Island Passage at sea, the site benefits from the exceptional connectivity of its strategic location.

The surrounding area offers a vibrant mix of historic character, modern amenities, and a multitude of uses ranging from single family residential to commercial to industrial. The working harbour location provides a dynamic and engaging waterfront environment, offering lively marine views and an authentic coastal atmosphere as well as immediate proximity to amenities that would benefit mixed residential - commercial or industrial development on this site.

Nanaimo is well-connected to Vancouver and the Lower Mainland via multiple daily transportation options, including BC Ferries, Hullo passenger ferry, Helijet, and Harbour Air—ensuring convenient commuter and visitor access year-round.

 

Investment Highlights

Prime Oceanfront Location — Strategically positioned along Nanaimo’s eastern shoreline, offering exceptional visibility, accessibility, and marine frontage.
Income-Generating Asset — Tenanted with multiple established marine-related businesses and a marina providing stable holding income. Immediate opportunities to add value and increase revenue.
Mixed-Use Zoning (CC1 & W2) — Allows for a variety of commercial, marine, and residential uses, including potential for medium-density redevelopment up to four storeys.
Redevelopment Potential — Supported by a development feasibility study for a mixed-use commercial and residential project (available in the Data Room).
Substantial Land and Water Area — Approximately 13,443 sq. ft. of land with leasehold interest in a 6.0-acre floating marine improvement, including 0.936 acres of filled foreshore.
Vibrant, Connected Location — Minutes from Downtown Nanaimo and the BC Ferries Terminal, within a growing waterfront corridor that blends historic character with modern urban growth.
Strong Regional Access — Multiple daily transport options to and from Vancouver via BC Ferries, Hullo, Helijet, and Harbour Air.

 

Occupancy

Five tenant occupied commercial spaces with vacant standalone commercial building 

62 Occupied Boat Slips with capacity for additional boat moorage.

Lot Size: 13,443 SF Land & 6.0 Acres Floating Marine Improvement

Storeys: 1

Parking: Surface, Street

 

List of Due Diligence Items:

- Rent Roll
- Tenant Leases
- Development Plans
- Survey
- Titles
- Lease for Marine Improvement

Zoning: W2/CC1

PIDs:

005-928-621, 005-928-486, 005-927-021, 005-928-826, 005-927-081, 005-928-095, 005-929-024, NANAIMO LAND DISTRICT, FILLED FORESHORE ON NANAIMO PORT AUTHORITY FOR PARKING & BOAT STGE COMPOUND, & .936 AC OF FILLED FORESHORE PORTION OF FOR MARINA & BOAT SALES/REPAIRS, LEASE/PERMIT/LICENCE # FL080

Year Built: 1987