Investment property, Stopiņu street, Dārzciems / 1000000€

Property description

Fully Leased Warehouse Complex with Offices.

The net operating income (NOI) amounts to 12.6% per year, meaning the property pays 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 lease payment for the leased land is 4% of the cadastral value, or €430/month.
The entire territory is fully paved.
There is a preemptive right to acquire an additional 500 sqm of land.
Zoning: Low-rise residential development area (DzM1).

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

Warehouse No.1, 1,776 sqm, brick walls, consists of two sections subdivided into smaller halls and rooms. Ceiling height is 5 to 6 meters. One end has a loading dock.
One part includes refrigeration chambers and freezers covering 150 sqm.

Hangar No.2, 444 sqm, metal frame, consists of one large open space, ceiling height 7.5 meters.

Hangar No.3, 440 sqm, metal frame, consists of one large space and two small utility rooms, ceiling height 7.5 meters.

Hangar No.4, 435 sqm, metal frame, consists of one large space and two small utility rooms, ceiling height 7.5 meters.

Warehouse No.5, 850 sqm, brick walls, consists of three large halls and several utility rooms, 2 floors. The second floor is not renovated and is currently unused.

All buildings were constructed in 1978.

Electricity: 100 A
New stormwater drainage system in place
The territory is fenced and closed at night
Video surveillance connected to a security company

Excellent location, with highways nearby. The city center is only a 3-minute drive away.

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

Object on the map