Investment property, Stopiņu street, Dārzciems / 1000000€

Property description

Fully Leased Warehouse Complex with Offices

The net operating income (NOI) yields 12.6% annually, meaning the property will pay for itself in 7.9 years.

The property consists of 6,447 sqm of owned land and 3,500 sqm of leased land, totaling 9,947 sqm.
The land lease payment is 4% of the cadastral value, or €430/month.
The entire area is fully asphalted.
There is a pre-emptive right to purchase an additional 500 sqm of land.
Zoning: Low-rise Residential Construction Area (DzM1).

Buildings:
Office building, 224 sqm, wooden frame construction, consists of many small rooms. The building has central heating, city water, and sewage connections.

Warehouse No.1, 1,776 sqm, brick walls, divided into 7 sections. Four sections are insulated; one has a gas heater.
Ceiling height is 5 to 6 meters, with a ramp on one end.
Two sections are equipped with cold storage and freezer rooms.

Hangars No.2, No.3, and No.4 — each approximately 440 sqm, metal frame construction, each consists of one large space, ceiling height 7.5 meters. All are insulated.

Workshop No.5, 850 sqm, brick walls, consisting of 3 large halls and several auxiliary rooms, 2 floors. The second floor is not renovated and currently unused.
Heated by iron wood-burning stoves.

All buildings were constructed in 1978.

Electric capacity: 100 A.
New rainwater drainage system installed on the premises.
The area is fenced and closed at night.
Video surveillance is connected to a security company.

Very good location, with nearby highways. The city center is just a 3-minute drive away.

There are 13 tenants. The three largest are a transportation company, a flower wholesaler, and a tea distributor.
There is potential to further develop and improve the territory and warehouses to increase revenue.

Object on the map