Description
A rare opportunity to acquire a prominent downtown Nanaimo commercial property with stable income and future rental upside. The building is currently leased to an established tenant operating the popular Vault Café/Bar, who also manages the upper-floor office rentals. The existing lease runs until March 2028, providing dependable cash flow and a current cap rate of approximately 5%. Upon lease renewal, the buyer will have greater flexibility to restructure the tenancy, adjust rents to market levels or lease the café and office spaces separately, creating potential to increase the cap rate to over 6%, subject to market conditions and operating costs. The upper floor includes 7 office rooms, 2 bths, a kitchen/staff area, large windows and skylights. Located on a highly visible corner near City Hall, the Conference Centre, seaplane terminal and HeliJet, this unique heritage landmark offers an attractive combination of stable income, strong location and long-term investment potential.
Property Details
| Property Type | Commercial Sale |
| Property Sub Type | Mixed Use |
| Listing ID | 1042861 |
| Status | Active |
| City | Nanaimo |
| Area | Nanaimo |
| Sub-Area | Na Old City |
| Postal Code | V9R 5B7 |
| Property Taxes | $19,313.00 (2025) |
| Zoning | dt-7 |
| Water | Municipal |
| Sewer | Sewer Connected |
| Heating | Heat Pump,Natural Gas |
| Cooling | HVAC |
| Exterior Features | Display Window |
| Construction | Brick,Stucco |
| Foundation | Poured Concrete |
| Listed Date | Jul 14, 2026 |
| Lot Size | 0.06 acres |