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Investment Highlights

  • Previously approved concept for a 16–20 unit multi-story building with underground parking.
  • Located within a growing urban corridor with easy access to Nanaimo’s major routes.
  • Excellent proximity to schools, transit, retail, and essential services.

Executive Summary

The lot supports street-oriented, medium-density residential and mixed-use development along major corridors. The site previously held a Development Permit for approximately 16–20 residential units in a multi-storey building with underground parking. While a new Development Permit will be required, the prior approval demonstrates the site’s suitability for a purpose-built rental apartment or boutique condominium project at a manageable scale. With strong southern exposure, direct lake frontage, and proximity to schools, transit, and amenities, this property offers a compelling infill development opportunity within Nanaimo’s growing urban corridor—well suited to developers seeking an efficient project with long-term rental or sell-out potential

Property Facts

Price $1,006,999 USD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 0.75 AC

1 Lot Available

Lot

Price $1,006,999 USD
Price Per AC $1,342,664.86 USD
Lot Size 0.75 AC

A well-positioned lakefront residential development investment opportunity is available for builders and developers seeking a manageable-scale project. This approximately 3/4-acre property fronts Diver Lake, and features flexible COR2 zoning.

Description

The property is located on Shenton Road in the Diver Lake area of Nanaimo, British Columbia. It consists of approximately 0.75 acres of land with COR2 zoning, which supports medium-density residential and mixed-use uses along major corridors. The site has road frontage and access to nearby municipal infrastructure. It fronts Diver Lake and is situated near existing residential neighborhoods, schools, and commercial areas. Major transportation corridors and local thoroughfares provide connectivity to other parts of Nanaimo. The surrounding area includes residential dwellings, recreational parks, and retail amenities.

Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
  • Listing ID: 40811209

  • Date on Market: 6/5/2026

  • Last Updated:

  • Address: 3801 Shenton Rd, Nanaimo, BC V9T 2H1

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