Investment property, Valdemāra street, Sigulda / 520000€

Property description

Unique investment property in Sigulda.

- Prime location: situated opposite Jāņa Market, just a few minutes' walk from the bus and train stations, and the Gauja Valley.
- Stable rental income: currently generating around 12% ROI from rental payments.
- Expansion and renovation potential: significant opportunities to enhance cash flow through redevelopment and renovation.

The 1st, 2nd, and 3rd floors of the building are currently leased to various tenants.

The 4th floor requires renovation (unfinished), and the building or part of it can be converted into residential apartments. The property is located in a "Mixed Central Development Area."

The property consists of a land plot (1849 m²) with a 4-story office building, totaling 1183.6 m². The building was completed in 1987 and renovated (except for the facade) in 2018.

Utilities: Gas heating, air recuperation system, city water, and sewage. All utilities were replaced during the property's renovation.

Primary use: 1230 - Wholesale and retail buildings
Building type: 12300101 - Commercial buildings

Real estate development opportunities:
1. Conversion of the 4th floor into apartments or offices, with the potential to expand onto the terrace.
2. Redevelopment of the existing building into a multi-apartment complex.
3. Construction of a new 4-story building along Kr. Valdemāra Street (approx. 1200 m²).
4. Creation of additional parking spaces.

More information available upon request.

Object on the map