A DETACHED BUILDING IN THE CENTER OF THE EUROPEAN CAPITAL! Price - € 950,000 only!
Monthly cash-flow: €15,000
Office Rentals. All 3 floors are rented to tenants, with flexible agreements. Until recently, the rent for the 1st floor premises reached even € 30 per square meter per month, on the other floors it was a little less. Calculating modestly, the income from renting the premises will bring you € 9,000 a month. It is possible that the income will increase even more if you divide the premises into small offices, 10 - 12 m2 each.
40 Parking Lots. They are rented either by the hour (€ 1.50 per hour), or overnight, or with a monthly subscription (€ 65 per month). On average, parking lot rental will bring you at least € 5,000 per month.
Legal Address and Mailbox Rental. This is a service requested - specially in the center of Riga - by many companies who are willing to pay ~30 € per month for it. Let's say you rent an address to 20 companies, so it will give your budget an extra income € 600 a month.
So your potential monthly passive income may exceed € 15,000.
You can easily calculate the payback period by yourself.
The house is built using metal structures and reinforced concrete, so it will last for a very long time.
By the way, this real estate offer has been approved by the Organizing Committee of the 4th International Investment Forum "Favorable Investments in Real Estate". The forum will take place in December 2020 in Moscow, Russia.
WHY TO PURCHASE A COMMERCIAL PROPERTY FOR RENT
with a monthly cash flow of € 15,000
Separate 2-room 40m2 apartment in Purvciems, Riga:
average purchase price € 40,000;
can be rented for € 200 per month
To get a cash flow of € 7'000 per month, you need to buy 35 apartments for €1.4 million euros.
€ 10,000 per month = 50 apartments that would cost you €2 million euros.
€ 15,000 per month = 75 apartments, the purchase cost even €3 million euros!
Why to buy 75 apartments, furnish them and hire a property manager, if it is possible to get the same amount of cash more easily by purchasing a commercial object in Riga, Matīsa Str. 26?
Until recently, Nord LB / DNB bank (Luminor) was located here, and carried out major repairs to the building for its own needs in 2015. Air conditioning, purification and ventilation system, video surveillance, bank level security systems. Building has a city central heating system with own heat controlling room which allows to save. The building is in excellent condition.
3 floors with own elevator. 2 staircases.
Premises area is ~ 1100 square meters:
~ 600 m2 finished building + additional
~ 480 m2 can be built on the existing land as a separate building (coordinated with Riga City Council)
Own parking for 40 cars - a very rare opportunity in the city center!
Multifunctional property. Ideal for a bank, medical center, embassy of smaller country, coworking center, children's clothing store, sports club, office center, technical school, museum or game hall. Even apartments can be built on the top floors.
The flow of pedestrians is generated by the shopping center "Bērnu pasaule" ("The Chidren's World") opposite to it and by many shops in the area. Convenient public transport - trams, trolleybuses. Walking distance to the Old Town - about 1600 m. It is convenient for visitors to park their cars both on the street ("B" zone paid parking lot) next to the building or in the yard.
Currently, there is a shop on the 1st floor, a children's entertainment center on the 2nd floor, and an office on the 3rd floor.
Ideas of use:
Floor No. 1:
Currently used as a store.
Floor No. 2:
Currently used as a children's entertainment center. It is possible to divide it into small cabinets to get higher rent.
Floor No. 3:
High ceilings, wide windows. Exit to elevator. Currently used as an office. Smaller rooms have been separated which can be offered immediately as a beautician's office. It is possible to divide the whole floor into small cabinets to get higher rent.
The spatial plan of Riga City Council allows to build an arcade in the block between K.Barona and Matīsa streets. This means, it is possible to build another 6-storey high house with a total area of ~ 480 m2 in the yard.
Find the differences between the two pictures below!
Address: 26 Matisa Str., Rīga, Latvia
Location: Rīga historical center, between Matīsa, K.Barona, Bruņinieku and A.Čaka streets
Designation of the building cadastre: 01000330063002
Cadastral value as of June this year: 627'007 €
Land plot: 1'071 m2
Electricity: 3-phase, 2x 150A
Seller: SIA "PARANGON" (Reg. No. 40003145501, paid-up Share Capital 226'458 €, registered in the Commercial Register on 27.02.2004, active VAT number) which owns 100% of the specific building and land
Purchase options: either only the property alone or together with the company
Expropriation prohibitions: none
Tax debts: none
Other debt: none
Reason For Sale: Seller is looking to retire
The land register confirms a road easement of 84 m2 for passing through to the land plot.
Real estate tax for building and land: 784 € per month
Heating costs in winter: ~ 500 € per month (own heating unit)
Full documentation: download the PDF here.
Property price: 950,000 €
Please apply for a property inspection by phone (+371) 26816112 or fill in the application form below.
We invite real estate brokers to cooperate: payment of compensation for the attracted buyer is guaranteed! Let's get in touch!