Existing cash flow with a 6,03% net rental yield from existing long-term rental contracts.
Preliminary agreement is signed with a local developer to sell the property for 260,000 EUR within 24 months. The existing agreement promises an 13% Capital Growth.
10% reservation fee (deposit) from the buyer is already paid to secure the sale of the property in the future.
Huge development potential for this property
Given property is located in Mustamäe district, Tallinn, Estonia. The main value of this property is the spacious land plot that has a great potential for new development. The land also includes industrial warehouse that is rented out with long-term contracts to 5 different tenants.
Mustamäe is well connected with the city center, which is only 6,5 km away from our property. Estonia’s largest Technical University (TTU) is located nearby, attracting students and scholars on a daily basis. Properties in the area promise great capital growth in the coming years.
Furthermore, the area is also well-known for it´s Tehnopol science and business centre, Universities, as well as trade outlets and community services. The industrial part of the area is also evolving rapidly with a large number of production and warehouse buildings in the immediate vicinity.
Planned expansions of Tallinn Technical University and its Institute of Cybernetics, as well as an expansion of the nearby Technopol and science park will make this area one of the most sought-after technological and industrial hubs in Tallinn in the near future. The Mustamäe district administration of Tallinn has confirmed building the extension of Vinkli street up until Kadaka street, making this property logistically much more approachable and valuable in the future.
Investing in this area of Tallinn right now is a wise move considering all the planned developments.
This object has passed Reinvest24 risks assesment and is secured by Collateral Agent mortgage.