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5280 Metral Dr
Nanaimo
V9T 2K8
$659,000
Residential
beds: 2
baths: 2.0
1,460 sq. ft.
built: 1968
- Status:
- Active
- Prop. Type:
- Residential
- MLS® Num:
- 997107
- Bedrooms:
- 2
- Bathrooms:
- 2
- Year Built:
- 1968
- Photos (23)
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Development Opportunity – COR1 Zoning in North Nanaimo. Prime redevelopment opportunity on Metral Drive where City has upgraded services/roads and is supportive of high density construction. This level, fully serviced lot is zoned COR1, currently allowing for multifamily residential, professional office, and limited commercial use. The property offers excellent frontage, easy access, and is ideally suited for rezoning to suit low- to mid-rise development (3–6 storeys) with surface parking. Located near major retail amenities including Nanaimo North Town Centre & Superstore, the site is part of a designated growth corridor supported by the Official Community Plan, which encourages higher-density and mixed-use projects in this area. With strong demand for multifamily housing and local incentives for “missing middle” developments, this is a compelling opportunity for developers & investors. Estimated potential yield of 12–14 units.
All measurement approx. Value in land. As is where is.
- Property Type:
- Residential
- Type:
- Single Family Residence
- Year built:
- 1968 (Age: 57)
- Close Price Lease Total:
- Signup
- Existing Lease Expiry:
- Signup
- Living Area:
- 1,460 sq. ft.
- Listing General Location:
- Na Pleasant Valley, Nanaimo
- Bedrooms:
- 2
- Bathrooms:
- 2.0 (Full:-/Half:-)
- Lot Size:
- 10,400 sq. ft.
- Kitchens:
- 1
- Taxes:
- Signup
- Building Features:
- Basement, Transit Nearby
- Construction:
- Frame Wood, Stucco
- Basement:
- Full, Walk-Out Access
- Foundation:
- Slab
- Electricity:
- Yes
- Roof:
- Asphalt Shingle
- Ceiling Heights:
- Signup
- Floor finish:
- Mixed
- Total Building Area:
- 1,460 sq. ft.
- Total Unfinished Area:
- 0 sq. ft.
- Commercial Area:
- Signup
- # Bedrooms or Dens Total:
- 2
- # Main Level Bedrooms:
- 2
- # Second Level Bedrooms:
- 0
- # Third Level Bedrooms:
- 0
- # Lower Level Bedrooms:
- 0
- # Other Level Bedrooms:
- 0
- # Main Level Bathrooms:
- 1
- # Second Level Bathrooms:
- 0
- # Third Level Bathrooms:
- 0
- # Lower Level Bathrooms:
- 1
- # Other Level Bathrooms:
- 0
- # Main Level Kitchens:
- 1
- # Second Level Kitchens:
- 0
- # Third Level Kitchens:
- 0
- # Lower Level Kitchens:
- 0
- # Other Level Kitchens:
- 0
- Living Area Lower Floor:
- 500 sq. ft.
- Living Area Main Floor:
- 960 sq. ft.
- Living Area Other Floor:
- 0 sq. ft.
- Living Area 2nd Floor:
- 0 sq. ft.
- Living Area 3rd Floor:
- 0 sq. ft.
- Fireplaces:
- 1
- Fireplace Details:
- Living Room
- Laundry Features:
- In House
- Water supply:
- Municipal
- Sewer:
- Sewer Connected
- Cooling:
- None
- Heating:
- Forced Air, Oil
- Fireplace:
- Yes
- Pending Date:
- Signup
- F/S/W/D
- Aluminum Frames
- Fenced, Fencing: Partial
- Main Level
- 0
- Yes
- No
- Unrestricted
- Floor
- Type
- Size
- Other
- Financing Notes:
- Signup
- Assessed:
- Signup
- Assessment year:
- Signup
- Approximate Inventory Value:
- Signup
- Fixed Equipment Approx. Value:
- Signup
- Goodwill Approx. Value:
- Signup
- Gross Income:
- Signup
- Net Operating Income:
- Signup
- Association Fee:
- Signup
- Association Fee Frequency:
- Signup
- Units in Building:
- Signup
- Units in Community:
- Signup
- Number of 2 piece baths:
- 0
- Number of 3 piece baths:
- 2
- Number of 4 piece baths:
- 0
- Number of 5 piece baths:
- 0
- Number of 2 piece Ensuites:
- 0
- Number of 3 piece Ensuites:
- 0
- Number of 4 piece Ensuites:
- 0
- Occupancy:
- Vacant
- Property Condition:
- Land Value Only
- Utilities:
- Compost, Electricity Connected, Garbage, Natural Gas Available, Recycling
- Exposure / Faces:
- Southwest
- Layout:
- Split Level
- Lot Site Features:
- Central Location, Curb & Gutter, Easy Access, Family-Oriented Neighbourhood, Level, Rectangular Lot, Serviced, Shopping Nearby, Sidewalk, Southern Exposure
- Attached Garage:
- No
- Carport Spaces:
- 1
- Garage Spaces:
- 0
- Garage:
- No
- Parking Features:
- Carport, Driveway
- Total Parking Spaces:
- 2
- Road Surface Type:
- Paved
- Total Units:
- Signup
- Date Listed:
- May 01, 2025
- Original Price:
- 659000.0
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Virtual Tour
Listed by RE/MAX of Nanaimo
Data was last updated May 3, 2025 at 02:05 AM (UTC)
Area Statistics
- Listings on market:
- 45
- Avg list price:
- $649,900
- Min list price:
- $119,900
- Max list price:
- $2,100,000
- Avg days on market:
- 32
- Min days on market:
- 1
- Max days on market:
- 535
- Avg price per sq.ft.:
- $431.93
These statistics are generated based on the current listing's property type
and located in
Na Pleasant Valley. Average values are
derived using median calculations.
- MICHAEL TRAN
- ROYAL LEPAGE NANAIMO REALTY
- 1 (778) 9680334
- Contact by Email
Contact Me
Cell: (778)-968-0334
Office: (250)-758-7653
Email: mike@michaeltranrealestate.ca
Head Office
4200 Island Hwy N
Nanaimo, BC, V9T 1W6