499 Wallace St

Mixed Use For Sale in Na Old City, Nanaimo

$1,175,000
The Merchant's Bank of Canada building is a two-story, Free Renaissance styled Heritage building located on a prominent corner in downtown Nanaimo. The architect for the BC Legislature and Empress Hotel in Victoria designed this landmark. The building was completely renovated 2004-2006, and in 2022 installed a completely new roof and all new HVAC system. It has the main floor with high ceilings and the Vault Coffee/Bar the popular local favourite reside here. Upstairs has 7 rooms, two bathrooms and kitchen/staff room area with 5 large windows and 5 skylights. Upstairs is ideal for medical/ dental /lawyer office or any one company to use the space if owner operator looking to land a prime downtown location in the Nanaimo's Old City. Steps to city hall, the conference centre, float plans, helijet are all minutes walk away from this landmark location. With the heritage status of the building there are cost sharing programs with the city of Nanaimo to take advantage of. Don't miss out! HERITAGE VALUE Built in 1912, the Merchant's Bank is Nanaimo's sole example of the eclectic, elegant Free Renaissance style, inspired by Italian churches and palaces, and popular in North America from the late 19th to early 20th centuries. The exterior was faced with a combination of a banded brick base and quoining that framed the edges and structural openings. A later coat of stucco obscured these features but some of the facade details, including the prominent cornices typical of this style, are still discernible. The elaborately detailed, round-arched windows, featuring radiating mullions and brick keystones, angled corner entry and ornate cast plaster ceiling are also substantially intact. The Merchant's Bank is significant for its association with Francis Mawson Rattenbury, British Columbia's premier architect of the late 19th and early 20th centuries. The building's prominent corner location and exceptional windows make it a highly visible landmark.
Address 499 Wallace St
List Price $1,175,000
Property Type Commercial Sale
Type of Dwelling Mixed Use
Area Nanaimo
Sub-Area Na Old City
Lot Size 2443 Sq. Ft.
Year Built 1912
MLS® Number 919016
Listing Brokerage 460 Realty Inc. (NA)
Postal Code V9R 5B7
Tax Amount $7,749.00
Tax Year 2020
Features Heat Pump, Mixed, Natural Gas
Amenities Central Location, Corner Lot, Curb & Gutter, Display Window, Serviced, Shopping Nearby, Sidewalk

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460 Realty Inc

#202-1551 Estevan Road Nanaimo BC V9S 3Y3

Office: (250) 618-6797

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