5280 Metral Dr Nanaimo, British Columbia V9T 2K8

$659,000

Development Land for Sale – Prime COR1 Zoned Property on Metral Drive, Nanaimo This rare development opportunity in North Nanaimo offers a level, fully serviced lot with COR1 zoning, allowing for multifamily residential, professional office, and limited commercial uses. With generous frontage on Metral Drive and easy road access, the property is well-suited for low- to mid-rise development (3–6 storeys) and surface parking—no underground structure required. Strategically located near major retail amenities such as Nanaimo North Town Centre and Superstore, the site benefits from strong transit connections and is part of a growing corridor identified for infill and higher-density housing by the Official Community Plan (OCP). Nanaimo continues to experience strong demand for multifamily housing, driven by population growth and affordability factors compared to larger cities. The City and Province have introduced incentives for “missing middle” housing, making this an ideal time to invest in a high-potential property. With an estimated buildout of 12–14 units, this is a compelling real estate investment opportunity for developers seeking a well-located, versatile site in one of Vancouver Island’s most desirable markets. Contact Hacey Jeong from Team Invest West 250-739-5678 today for a full info package or to arrange a site tour. www.TeamInvestWest.com (id:46156)

Property Details

MLS® Number	997107
Property Type	Single Family
Neigbourhood	Pleasant Valley
Features	Central Location, Curb & Gutter, Level Lot, Southern Exposure, Other, Rectangular
Parking Space Total	2

Building

Bathroom Total	2
Bedrooms Total	2
Appliances	Refrigerator, Stove, Washer, Dryer
Constructed Date	1968
Cooling Type	None
Fireplace Present	Yes
Fireplace Total	1
Heating Fuel	Oil
Heating Type	Forced Air
Size Interior	1,460 Ft2
Total Finished Area	1460 Sqft
Type	House

Land

Access Type	Road Access
Acreage	No
Size Irregular	10400
Size Total	10400 Sqft
Size Total Text	10400 Sqft
Zoning Description	Cor1
Zoning Type	Residential/commercial

Rooms

Level	Type	Length	Width	Dimensions
Lower Level	Bathroom			6' x 8'
Lower Level	Family Room		19 ft	Measurements not available x 19 ft
Main Level	Kitchen			7' x 10'
Main Level	Living Room/dining Room			9'6 x 11'6
Main Level	Living Room	17 ft		17 ft x Measurements not available
Main Level	Bathroom			8' x 7'
Main Level	Bedroom			9'6 x 11'6
Main Level	Bedroom		13 ft	Measurements not available x 13 ft
Other	Entrance	6 ft		6 ft x Measurements not available

https://www.realtor.ca/real-estate/28245644/5280-metral-dr-nanaimo-pleasant-valley