Mixed-use building in the center of Riga, Latvia

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Mixed-use building in the center of Riga, Latvia

1,150,000 €
1,236 € /m²
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  • Total area
    930 m²
  • Yield
    6.9%
Details
Property parameters
  • Land area: 600 m²
  • 3-floor building
Financial performance
  • Annual income: 79,350 €
Tenants
  • Fully let
Features
  • Street retail

Mixed-use building in the center of Riga.

Description

The three-story building with a total area of 930 m² includes:

  • 4 retail premises (120, 60, 100 and 200 m²)
  • 2 offices (65 and 90 m²)
  • 4 apartments (80, 75, 71 and 40 m²)
  • 2 utility rooms (20 and 2 m²)
  • 2 boiler rooms (35 and 6 m²)

Parking for 8 cars.

There is a possibility to increase the leasable area.

Extra opportunities

We can help you with your Latvian residency permit application when buying a property worth €250,000 or more.

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Financial performance

The annual income is 79,350 €.

The yield is 6.9%.

Location and nearby infrastructure

The building is located in the center of Riga, 10 minutes walk from the Old Town.

Riga is the capital of Latvia and is home to 632,614 inhabitants (2019), which is a third of Latvia's population. Being significantly larger than other cities of Latvia, Riga is the country's primate city.

Riga is one of the key economic and financial centres of the Baltic States. Roughly half of all the jobs in Latvia are in Riga and the city generates more than 50% of Latvia's GDP as well as around half of Latvia's exports.

Tourism is also a large industry in Riga; 90% of tourists visiting Latvia stay in Riga.

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