Methods for making multiple walled nested coaxial nanostructures and devices incorporating the coaxial nanostructures are disclosed. The coaxial nanostructures include an inner nanostructure, a first outer nanotube disposed around the inner nanostructure, and a first annular channel between the inner nanostructure and the first outer nanotube. The coaxial nanostructures have extremely high aspect ratios, ranging from about 5 to about 1,200, or about 300 to about 1200.