About 311 Wallace St
Prime multifamily, commercial, mixed use development site in the heart of downtown Nanaimo. Elevated ocean, city and distant coastal mountain view site offered in a prominent, desirable location at the corner of Wallace and Fitzwilliam Street. Zoned DT2, multiple commercial and residential uses are permitted with 100% site coverage with a maximum height of 4m. This unique property offers high visibility on the main corridor connecting downtown Nanaimo, the waterfront, seawall, seaplane terminal, Inland Island Highway, VIU, Ice Centre and Aquatic Centre. The site neighbours Wesley Quarter with destination dining options, shops, and professional office buildings. Directly across the road is Bastion Bridge meandering to the city centre shopping, dining, hotel and entertainment hub. This is a great site ready for your multi-level project. The seller may consider some vendor financing at attractive rates and terms for a qualified buyer to help see a project through to fruition.
Features of 311 Wallace St
| MLS® # | 1017831 |
|---|---|
| Price | $899,000 |
| Acres | 0.38 |
| Type | Commercial Sale |
| Sub-Type | Unimproved Land |
| Status | Active |
Community Information
| Address | 311 Wallace St |
|---|---|
| Area | Na Old City |
| City | Nanaimo |
| County | Nanaimo, City of |
| Province | BC |
| Postal Code | V9R 5B6 |
Amenities
| Utilities | Cable Available, Cable To Lot, Compost, Electricity Available, Garbage, Natural Gas Available, Phone Available, Recycling |
|---|---|
| Parking Spaces | 50 |
| View | City, Mountain(s), Ocean |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|
Additional Information
| Date Listed | October 16th, 2025 |
|---|---|
| Days on Market | 8 |
| Zoning | DT2 |
Listing Details
| Office | Macdonald Commercial Real Estate Services Ltd. |
|---|