512 5th St Positioned on prime 5th Street frontage in downtown Courtenay, this C1 zoned property presents a compelling opportunity for investors, owner users, or developers. The 1, 000+ sqft building offers immediate income with a long term commercial tenant currently on a month to month lease and open to a new multi-year agreement. Recent upgrades include a brand new roof and 200 amp electrical service, supported by four private parking stalls. As the most centrally located downtown property with both front and back yards, the site benefits from favorable setbacks and zoning that may allow for a four storey mixed-use development. Potential exists for up to 20, 000 sqft of commercial and residential space, including a commercial ground floor and residential units above with glacier and ocean views. A rare opportunity to secure income today while unlocking significant redevelopment upside tomorrow. (id:203)