347 Wesley St

Status
expired
Nanaimo, BC V9R 3A7
$ 1,975,000
  • 0
  • 0
  • 0
  • 1912

To purchase a fully leased restaurant/residential investment property in Nanaimo’s Old City
Quarter. 347 Wesley Street features a two storey plus basement ±3,405 square foot partially
converted single family dwelling. Built in 1912, the home’s main floor was converted to a
restaurant in 1996. The building is set toward the rear of the property with surface parking in
front.
The tenant on the main floor is the award winning and Nanaimo favorite, Asteras Greek Taverns, who
has been operating from this location since 2008. A new 5 year lease renewal took effect April 1st,
2023 with options to renew that run until the year 2043. The residential unit on the upper floor is
rented on a month-to-month basis. Approximate cap rate at the asking price is 5.2%.

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To purchase a fully leased restaurant/residential investment property in Nanaimo's Old City Quarter. 347 Wesley Street features a two storey plus basement ±3,405 square foot partially converted single family dwelling. Built in 1912, the home's main floor was converted to a restaurant in 1996. The building is set toward the rear of the property with surface parking in front. The tenant on the main floor is the award winning and Nanaimo favorite, Asteras Greek Taverns, who has been operating from this location since 2008. A new 5 year lease renewal took effect April 1st, 2023 with options to renew that run until the year 2043. The residential unit on the upper floor is rented on a month-to-month basis. Approximate cap rate at the asking price is 5.2%.

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Derek Gillette PREC*
1-250-585-3322

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347 Wesley St, Nanaimo, BC, V9R 3A7

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347 Wesley St

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