Sale | Houses | House ownership

Investment Property with High Redevelopment Potential on Brīvības Street, Central Riga

For sale: a mixed-use residential and commercial building located on Brīvības Street—Riga’s premier central artery connecting the Old Town directly to the city borders. The property benefits from a strategic location with prime visibility, heavy foot and vehicle traffic, and well-developed surrounding infrastructure.

Property Breakdown & Areas:

Total building area: 598 sq. m.

Usable area: 296.51 sq. m.

Residential units: 3 apartments (34.19 sq. m., 51.73 sq. m., and 85.98 sq. m.)

Commercial units: 2 ground-floor retail/commercial spaces (24.40 sq. m. and 100.21 sq. m.)

Investment & Development Highlights:

Current Income: The property currently generates cash flow from two active tenants—a ground-floor grocery store and a large-scale outdoor advertising banner on the building's facade.

Condition & Value-Add Potential: The building is in need of major capital renovation. This presents an ideal value-add opportunity for an investor or developer to fully modernize the historical structure into boutique rental apartments and prime street-front retail spaces.

Land Tenure: The land is held under a long-term lease with State Real Estate (VNĪ) with an official buyout option available.