Commercial property in the center of Riga with 7 % ROI...

For sale is offered property  with perfect location - just 200 m to Old Town, 150 m to Central station, 8 km to Riga Airport.
Central location and good transport connections allows to create modern high class hotel or hostel, but property might be also used as office or residential building.

Household was build in 1880, based on first Latvian architect with academic grade- Fridrih Baumanis project.
Historical facade of the building remains unchanged till nowadays.
In 2006 building has gained status of Historical heritage of Riga.

 The facade of the building is being renovated currently to be finished by this November. The property is offered as a cash-flow property with annual yield of 7.0%. A long-term lease for 8 years has been signed for the premises. The lease begins in December 2018. Above the lease charge, the tenant will pay for public utilities, property management, real estate tax, and insurance.