Cost of Doing Business
The following information is a general summary of some requirements and costs associated with building and/or operating a business in the City of Parksville.
The estimation is based on one acre of undeveloped zoned industrial land within municipal boundaries in light industrial parks, fully serviced with good highway access, a 8,000 sq.ft (743 M2) tip up construction building.
| Parksville | Nanaimo | |
| 1Acre prices * | $135,000 | $280,000 |
| DCCs on 743 m2 | $17,406 | $10,729 |
| Building Cost | $800,000 | $800,000 |
| Taxes Annually on Assessed value = purchase/building costs | $22,159 (rate of $23.7 per $1,000) | $33,452 (rate $31.9 per $1,000) |
| Total Year One | $957,159 | $1,124,181 |
* Prices were obtained December 2007 from MLS listings, commercial realtor & DCC's from Community websites
* The costs can be used for general estimating or comparison purposes only and should not be relied upon for preparing final budgets, pro forma's or other financial estimates
Industrial, manufacturing or distribution facility leases start at $7.50 per sq. foot and land is available starting at $180,000 per half acre. Industrial construction costs start at approximately $130.00 per sq. ft.
Retail/Commercial facility leases start at $12.00 per sq. foot and land and buildings are available for development. Commercial construction costs start at approximately $150 per sq. ft. depending on the degree of finish.
For commercial property current listing information for sale or lease please click to the following MLS site
Building Permit Fees are based upon value and construction costs. Development Cost Charges (DCC's) are assessed by the City by area; it is best to contact the City of Parksville for more information.
Business Licenses range from $45 to $365 each depending on the type of business.