About This Property
An exceptional commercial investment in Qualicum Beach, on central Vancouver Island. Located in Qualicum Bay, the offering comprises two freehold parcels totalling approximately 3.09 acres and includes a waterfront portion with about 155 feet of walk on frontage on the bay. This established mixed use property generates income across 24 units and several revenue streams: a motel style accommodation building, twelve RV pads, self contained suites, a mobile home, a 2010 rancher, suites above garage bays, and a waterfront vendor site currently home to a popular seasonal food business. Zoned C1.6 under RDN Bylaw 2500, the property offers a proven going concern today at an approximate 8.1% capitalization rate, with meaningful room to grow. Current density sits at roughly 7.8 units per acre against zoning that contemplates considerably more, leaving unused development potential for an investor or builder to explore. Several accommodation units also rent well below comparable units in the same building, a documented path to stronger returns over time. The waterfront vendor site offers a further opportunity, giving an owner operator a ready made location for a food or hospitality venture. Fronting Island Highway West in Qualicum Bay, the property enjoys steady exposure in a growing coastal corridor prized for boating, fishing, golf, and beachfront recreation. Minutes from the shops and services of Qualicum Beach and a short drive to Parksville, it sits in one of Vancouver Island's most desirable seaside communities. The five civic addresses can be operated as a single asset, held for diversified income, or repositioned in stages. Whether held for its blend of accommodation, residential, and vendor income, expanded under its existing zoning, or explored for future redevelopment, this is a versatile and scarce offering. Full financial package will be available to qualified buyers. Zoning and permitted uses to be confirmed by the buyer. (id:64973)
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