5280 Metral Dr, Nanaimo, BC V9T 2K8

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.