Property building for sale, Peitavas street, Vecrīga / 756299€

Property description

For Sale – A Beautiful Property in Old Riga with Excellent Potential for Short-Term Business, Rental House or Commercial Use

✓ The property consists of a land plot and two buildings
✓ The building at Peitavas Street 10 has long served as the KINO Museum; currently, the premises are vacant
✓ The building at Peitavas Street 12 is preserved but in poor technical condition and requires complete reconstruction
✓ The property is accessible from both Peitavas Street and Alksnāju Street

Peitavas Street 10 (building with cadastral number 001):
✓ Total area: 831.3 m²
✓ Year of commissioning: 1870
✓ Technical condition: satisfactory/good
✓ Three floors
✓ Construction: brick masonry with wooden floors
✓ Heating: centralized heating by “Rīgas siltums”; heating unit located in the basement

Peitavas Street 12 (building with cadastral number 002):
✓ Total area: 582.8 m²
✓ Year of commissioning: 1750
✓ Technical condition: hazardous
✓ Five floors
✓ Increased real estate tax – EUR 4,405 per year

Conservation works were carried out in 2020 (cost: EUR 23,446).
In 2022, the Riga City Property Department issued Order No. DI-22_1952-nd “On the Restoration of the Building at Peitavas Street 12”, setting the following deadlines:

By July 1, 2025 – develop and approve the necessary project documentation
By April 1, 2026 – fulfill conditions for starting construction and begin restoration
By April 1, 2027 – complete the full restoration of the building, eliminating the identified façade deficiencies

Object on the map