FREESTANDING COMMERCIAL PROPERTY

An exceptional opportunity awaits to acquire a freestanding two-story commercial property situated on nearly 12,000 square feet of land(PIDs), boasting prime exposure on Kingsway Ave in the desirable Kensington-Cedar Cottage neighborhood. Located a mere 700m from the Nanaimo Station & just a block away from Victoria Dr, this property offers premium retail visibility and excellent transit accessibility. The neighborhood is currently undergoing extensive redevelopment, promising a surge in population, new retailers, shops, and essential civic amenities. The C2 zoning allows for up to 2.5 FSR (4-story market development or up to 3.5 FSR(6-story) secured rental project. Furthermore, neighboring properties may also be available for sale. 2nd floor of the building has been vacated due to a prior fire incident, & the building's size will need to be remeasured. Importantly, there are no tenant relocation costs or hassles associated with development, as there are no existing residential tenancies in the building.