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Office building in the center of Riga

2,800,000 €
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Total area: 6,026 m² Yield: 6.7% Built in 1967
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Features
  • Operating Incomе: 185,000 €
  • Land area: 1,952 m²
  • 4-floor building
  • Occupancy: 96%
  • Most recent total renovation: 2010
  • Leasable area: 4,571 m²

It is a business center investment 3 km from the Old Town.

Description

Four-storey building with a basement total area of 6,026 m² was constructed in 1967.

The plot of is 1952 m².

Net leaseable area of 4,571 m².

The property is in overall good condition, last renivation has been carried out in 2010.

96% of leaseable area is occupied.

Financial performance

Absolute income is 185,000 €.

The current yield of 6,7%.

Projected income (full occupancy) is 196,000 €.

The projected yield of 7%.

Tenants

The property is occupied with 57 tenants.

Annual rent indexation rate of 5%.

Location

The property is located on the crossroads of Zemitana Street and Darzauglu Street.

Shopping centre is located within 10 minutes walking distance. Several public transport routes, including train stop, are located within 500m.

Distance to central railway station is 3,1 km, to Riga International Airport is 13,6 km.

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

More properties

If this property wasn’t for you, take a look at other office buildings for sale in Latvia.

You can see more office buildings for sale in Riga elsewhere on our website.

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Julia Morozova
Julia Morozova
Senior Investment Consultant
+44 20 3608 1267
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    • Bank financing from 4.8% annually
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