2236 McGarrigle Road presents a rare sale-leaseback investment opportunity in Nanaimo, BC. The offering is comprised of a single 1-acre legal title, zoned I-2 (Light Industrial), with dual road frontage on McGarrigle Road and Northfield Road providing direct access to Highway 19A and the Nanaimo Parkway.
The site improvements include a 3,000 SF freestanding building with 12' ceiling clearance, a 276 SF rear carport, and a 1,186 SF paved front yard suitable for parking. A fenced and graded rear yard is currently leased as parking to two additional tenants, providing supplementary income alongside the primary lease. Current zoning permits subdivision into two lots, offering a purchaser additional long-term flexibility.
The property has operated as a dry cleaning business since the 1960s, with current ownership in place since 2005. The seller is proposing a 5-year triple net (NNN) leaseback at closing (length negotiable), providing a purchaser with immediate, stable in-place income backed by decades of continuous operating history at this location. Purchase of the business itself in addition to the land is also negotiable.
This offering represents an attractive opportunity for an investor seeking an income-producing industrial asset with embedded redevelopment potential in a growing Vancouver Island market.