New property listed in Na University District, Nanaimo

I have listed a new property at 531 2nd St.
Double commercial (CC1) lots property in the core of University. The building comes with a store space and 2-bedroom suite plus a detached garage. The suite currently is rented with $1,400/m with month to month term. The CC1 zoning provides for small scale and community services within neighbourhoods & allows mixed commercial/residential up to 3 levels. If the store was demo'd, you could build commercial at street level and 1 or more residential units up - ideal income property or live & work situation. The CC1 zoning also allows for one single family dwelling/lot subject to floor area ratio and lot coverage constraints. So, you could potentially get 4 doors on this property at a time when huge premiums are being paid for residential building lots. Possession: "As is, where is".
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