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Category: Commercial property
Total yield: 11.5%
Rental yield: 8%
Capital Growth: 3.5%
Payment frequency: Monthly
Collateral: 1st rank mortgage
Duration: 36 months
Monthly rental income after the property gets fully funded. Property comes with an active and well secured rental contract, as well as profitable exit by the end of 36 month period!
The commercial property for investing is a historical 3 floor building with a mansard, which was constructed before WWII. Almost 500 sqm sized building with an address Mainzicas 3 is located in the bohemian part of the city of Riga, Latvia. Our premises are two rooms on the ground floor, with a cadastral number 01000230095-001007, area 55.1 sqm and 01000230095-001010, area 63.2 sqm.
Both rooms are not visible from Brivibas street, which is considered to be the main street of Riga, with heavy traffic. Despite the proximity to the heaviest traffic street of the town, the distractions from pedestrians and traffic along the Maiznicas street is minimal. The windows of our premises are both facing the street and the courtyard which provide natural daylight during the whole day. Besides, they are located advantageously so the noise of the surrounding streets is not heard. And taking into account the same old proximity to the main street, it brings an additional value to our investment premises. On top of that, the parking options are very convenient, as it is possible to park roughly 8-10 vehicles along the Maiznicas street free of charge.
The property is located in the part of the center of Riga, at Maiznicas street, in a block consisting of Maiznicas, Miera street, Sarlotes street and Brivibas street. Nearby there are apartment houses, commercial buildings, shops, cafes, schools and other infrastructures. Just 30 meters away is the crosspoint of Miera street (a well-known “hipster” route in the town) and Brivibas street. The best advantage of this location is quietness, hidden but yet proximity to all the hottest locations in the city center.
As per public transportation to the center and the living neighborhoods, it is conveniently provided by a number of buses, trams and trolleybuses along Brivibas street. Also the Miera street possesses the nearest public transport stops. But if the walks are preferred - then the Old town of Riga and the Central Station will be just 20 minutes away.
This object has passed Reinvest24 risks assessment and is secured by Collateral Agent mortgage.