Long Lake Plaza
High Profile Retail Strip in Nanaimo with Value Add Opportunity
Opportunity
Tetra Realty Advisors Inc. and Avison Young are pleased to present for sale Long Lake Plaza located at 4890 Rutherford Road, Nanaimo, BC (the “Subject Property”). The Subject Property offers a rare opportunity for investors to acquire a centrally located retail plaza with significant value-add potential. Positioned at the prominent intersection of Island Hwy N and Rutherford Rd., the Subject Property boasts excellent visibility, high vehicular traffic, and is located across from Nanaimo North Town Centre, the city’s main shopping destination. This central location makes it an ideal spot for residents and commuters for daily-needs services.
Investment highlights
Tenant Mix: Long Lake Plaza comprises of a well-diversified tenant mix featuring complimentary daily-needs retail services predominantly comprised of food and professional service tenants.
Over 37,000 SF Rentable Area: The Subject Property is comprised of two separate buildings and over 50 surface parking stalls.
Value Add Opportunity: The 4,993 SF end-cap unit (CRU 1) is vacating, creating an opportunity to increase rental income by leasing it at competitive market rates.
Long-Term Development Potential: The Subject Property is designated under Mixed- Use Corridor Land Use Plan, allowing for future mixed-use developments for up to 3-6 storeys, offering significant long-term value and growth potential for investors.
Location
Located at 4890 Rutherford Road in Nanaimo, BC, the property is surrounded by a vibrant mix of residential neighborhoods, recreational facilities, and thriving commercial establishments, contributing to a dynamic and diverse community. With its central location and strong market demand, Long Lake Plaza presents a compelling investment opportunity for those looking to capitalize on Nanaimo’s growing economy and the unique appeal of Vancouver Island living. Positioned along one of Nanaimo’s key commercial corridors, the property enjoys excellent visibility and accessibility within the city’s bustling retail landscape.
