Nanaimo continues to attract attention from investors, owner-operators, and developers looking for opportunities across industrial, retail, office, and mixed-use asset classes.
What makes the current market interesting is the variety. We are seeing opportunities ranging from small owner-user spaces and downtown repositioning plays to industrial inventory that remains difficult to secure on Vancouver Island.
For buyers, this is a reminder that commercial real estate is rarely just about finding a building. It is about matching location, zoning, tenancy, redevelopment potential, financing, and long-term operating goals.
Below is our latest roundup of 10 notable commercial opportunities currently available in Nanaimo.
1. 291 Wallace Street – Old City Nanaimo
Downtown Nanaimo continues to evolve, and opportunities in the Old City remain closely watched. This multi-tenanted retail investment sits at the gateway to Nanaimo’s historic Gallery Row and offers strong street exposure, a diverse tenant mix, and stable in-place income. The Property comprises two adjacent titled lots improved with a predominantly single-storey retail building, with additional upside through lease-up of one vacant unit.
Located within a vibrant downtown node, the asset benefits from consistent pedestrian activity and is supported by significant nearby residential development, including a 195-unit and a 163-unit project. The building is also listed on the City of Nanaimo Community Heritage Register, adding to the character of the Old City Quarter. Offered at $2,300,000, the property reflects an approximate 5.69% stabilized cap rate, with further information available upon execution of a confidentiality agreement.
View Listing:
https://www.realtor.ca/real-estate/29672073/291-wallace-st-nanaimo-old-city
New Industrial Opportunity – B2 – 4073 Old Slope Place
Industrial inventory remains one of the most competitive segments on Vancouver Island, which makes new-build opportunities especially noteworthy.
This property stands out because newly delivered industrial product is still relatively limited in Nanaimo. For businesses that have been waiting for modern warehouse, flex, or operational space rather than adapting older stock, this represents an opportunity to secure newer infrastructure with long-term functionality in mind.
The Federal Government’s temporary Productivity Super-Deduction is designed to improve the economics of new commercial property ownership by allowing qualifying business owners to write off 100% of a building purchase price in year one. To qualify, the building must be brand-new, the business must use at least 90% of the floor space for producing, altering, packaging, or processing goods, and the program begins phasing out after 2029. With completion scheduled for 2028, the Jingle Pot Industrial Park falls squarely within the maximum tax-saving window.
This incentive can create significant first-year savings by bypassing the usual decades-long depreciation schedule. On a $2,000,000 strata unit, a qualifying corporation could potentially deduct the full building cost against business income in the first year, generating substantial tax relief while still benefiting from standard B.C. clean energy and capital credits. Units range from 2,000 SF to over 4,000+ SF, making them well suited to a wide range of industrial and processing businesses.
View Listing:
https://www.realtor.ca/real-estate/29471265/b2-4073-old-slope-pl-nanaimo-north-jingle-pot
2. 1605 Bowen Road – Central Nanaimo
Bowen Road remains one of Nanaimo’s established commercial corridors, offering strong exposure, accessibility, and an ideal opportunity for the business owner who requires CORRIDOR 3 zoning. The generous 13,578 sq. ft. lot provides a practical layout with customer parking in front and work vehicles at the rear, while the zoning supports numerous business uses. This well-maintained building has been converted for business use and includes four offices, a reception area, and a low-height basement that offers convenient storage.
For 26 years, the owner has carefully maintained the property with regular updates, including a new hot water tank, a roof approximately 12 years old, some new windows, and a heat pump. The new sewer and water line has also been connected to City services. This is a rare opportunity for a small business owner to secure the space needed to expand operations and serve customers in a professional setting. Measurements by Proper Measure; buyer to verify if important.
View Listing:
https://www.realtor.ca/real-estate/29629114/1605-bowen-rd-nanaimo-central-nanaimo
3. 1045 Terminal Avenue North – Central Nanaimo
This high-exposure corner property offers a rare commercial holding in the heart of Central Nanaimo, with 0.72 acres of land and two separate buildings positioned along a major main street corridor. Zoned COR3, the site offers exceptional flexibility for a wide range of commercial uses, along with strong redevelopment and repositioning potential for the right buyer.
The larger two-level building, formerly used as a restaurant, is currently vacant and has been cleared of restaurant equipment, creating a clean slate for a new concept or tenant improvement plan. The second building, approximately 1,800 sq. ft. on one level, is leased to a long-term restaurant tenant and provides steady income. With paved parking for roughly 35 vehicles and excellent visibility directly across from and beside established strip mall centres, this property combines exposure, access, and income in one strategic location.
View Listing:
https://www.realtor.ca/real-estate/29959163/1045-terminal-ave-n-nanaimo-central-nanaimo
4. 27 Commercial Street – Old City Nanaimo
Commercial Street remains one of Nanaimo’s most recognizable downtown addresses. This heritage commercial building is fully leased and offers approximately 4,800 square feet of well-maintained space across three self-contained units, making it an appealing option for investors seeking stable income in the Old City.
The layout includes roughly 1,800 square feet on the main floor, about 2,400 square feet upstairs, and an additional 600 square feet of basement storage. The property has been carefully cared for, with HVAC servicing and sprinkler protection in place, and it also includes two off-street parking stalls at the rear. Located close to the new Port Theatre and library complex, this C-11 zoned freehold property combines character, functionality, and a strong downtown location.
View Listing:
https://www.realtor.ca/real-estate/29802442/27-commercial-st-nanaimo-old-city
5. 102 – 5281 Rutherford Road – Uplands
North Nanaimo continues to be one of the city’s most active commercial areas, and this mixed-use opportunity at 102-5281 Rutherford Road stands out for both flexibility and income potential. Located in the Boardwalk at Rutherford, the property offers 1,902 square feet of well-planned space, with a 1,032 square foot ground-floor commercial unit currently suited to restaurant use, complete with patio seating and two washrooms.
Above the commercial space is an 872 square foot two-bedroom, one-bathroom residential suite, creating an excellent option for an owner-occupier or additional rental income. Zoned CC1, the property supports a wide range of permitted uses, including restaurant, retail, dental, and veterinary services. Additional features include separate electrical metering for the suite, efficient heating and cooling, a sprinkler system, crawl space storage, ample parking, and strong visibility at the top of Rutherford Hill with easy highway access. The residential portion is taxed at residential rates, helping keep carrying costs more manageable. Business is being sold separately.
View Listing:
https://www.realtor.ca/real-estate/29872983/102-5281-rutherford-rd-nanaimo-uplands
6. 615 Townsite Road – Central Nanaimo
Townsite Plaza is a multi-tenant commercial investment property located on approximately 1.30 acres in Central Nanaimo. The building offers 15,110 sq. ft. of leasable space and is fully occupied by four tenants, providing stable in-place income. Most of the leases are structured on a net basis, which helps recover operating expenses and supports a more efficient ownership model.
The property also features ample on-site parking and convenient access to nearby residential neighbourhoods and established commercial amenities. Based on current parking requirements, there is approximately 0.59 acres of surplus land, creating potential for future expansion or redevelopment. With freehold title, CC1 zoning, and a financial package available upon completion of a confidentiality agreement, this is an appealing opportunity for investors seeking both income stability and long-term upside.
View Listing:
https://www.realtor.ca/real-estate/29634539/615-townsite-rd-nanaimo-central-nanaimo
7. 301 Franklyn Street – Old City Nanaimo
Old City opportunities continue to attract investors looking for long-term value, adaptive reuse potential, and strong downtown positioning. This landmark office building stands out for its character, curb appeal, and highly visible location in the heart of Nanaimo’s historic core, just steps from City Hall, the new city annex, Commercial Street, and nearby restaurants, shops, and professional services.
Offering more than 3,000 square feet of move-in-ready space, the building is well suited to a professional office user such as a lawyer, counsellor, doctor, or other service-based business. The layout includes approximately 10 office stations, a private-entry office created from a former boardroom, a reception area, kitchenette, two bathrooms, and generous storage. Additional features include a covered front deck, strong street exposure, a modern security system, efficient heating and cooling with forced air natural gas and a heat pump, and parking for approximately six vehicles with additional street parking nearby.
View Listing:
https://www.realtor.ca/real-estate/29557434/301-franklyn-st-nanaimo-old-city
8. Unit 6 – 2535 McCullough Road – Central Nanaimo
Industrial and service commercial inventory remains tight across Nanaimo, which makes well-located functional spaces especially appealing to buyers. This 1,400 sq. ft. warehouse in Central Nanaimo offers a practical layout with strong flexibility for a range of business uses, supported by I3 zoning and additional commercial uses permitted under the designation.
The unit includes a dedicated parking stall, loading bay access, and guest parking nearby, along with multiple man-door exits and a large 12′ x 10′ overhead door for easy movement of equipment, inventory, or materials. Inside, the tall ceilings provide excellent vertical storage potential, while the existing bathroom, heat, and ample power make the space well suited for operations that may also benefit from an office component.
View Listing:
https://www.realtor.ca/real-estate/29476199/6-2535-mccullough-rd-nanaimo-central-nanaimo
9. 110 Nicol Street – South Nanaimo
South Nanaimo continues to offer compelling opportunities for buyers seeking value, visibility, and long-term upside as the area evolves. This downtown commercial property stands out with DT-12 zoning, dual road frontage, and exceptional exposure to more than 45,000 vehicles per day, making it an ideal fit for a service-based business or future redevelopment-minded investor.
Set on a fully fenced lot of approximately 10,586 sq ft with ample on-site parking, the property also benefits from a prominent backlit pylon sign and upgraded overhead lighting to enhance curb appeal and visibility. The 1,600 sq ft building is well equipped for operations, featuring two drive-in bays, a bright showroom or reception area, private office, washroom, 200-amp electrical service, 4-point hoist, swivel boom, compressor, and both gas and electric heat for added efficiency. With its strategic location near downtown amenities, ferry terminals, Helijet, the seaplane terminal, and shopping, this is a rare and versatile commercial opportunity in the heart of the city.
View Listing:
https://www.realtor.ca/real-estate/28988064/110-nicol-st-nanaimo-south-nanaimo
10. 14 Victoria Crescent – Old City Nanaimo
Victoria Crescent remains one of downtown Nanaimo’s more recognizable commercial pockets, and this offering stands out as a well-positioned strip mall known as Village Square. With over 17,000 sq. ft. of leasable space, plus open and covered deck areas, the property benefits from a highly visible location directly across from the casino and Harbour Park Mall, just one block from the convention centre and close to the waterfront and surrounding revitalization.
This is a strong holding property with future redevelopment potential, supported by a mix of established long-term tenants including restaurants, retail, offices, and service businesses. The building offers excellent signage, frontage on Victoria Crescent, access from Terminal Avenue, and a small amount of parking at the rear, making it a practical and strategically located commercial asset in the Old City.
View Listing:
https://www.realtor.ca/real-estate/29325405/14-victoria-cres-nanaimo-old-city
Why Nanaimo Commercial Real Estate Deserves Attention
Commercial opportunities in Nanaimo continue to span a wide range of price points and investment profiles. Whether you are looking for an owner-user building, industrial space, redevelopment potential, or an income-producing asset, understanding the business case behind the property matters just as much as the listing itself.
At VI Business Brokers, we work with buyers and sellers across Vancouver Island to evaluate opportunities beyond the brochure including business fit, lease considerations, operations, financing, and long-term value.
If you are considering acquiring a business or exploring commercial property as part of your next move, reach out to the team and we would be happy to talk through the options. While we are not licensed realtors and only sell businesses, we can recommend some top commercial realtors who can assist with property transactions.
