Property building for sale, Teātra street, Vecrīga / 2710000€

Property description

A truly exceptional architectural property is offered for sale in the heart of Riga, featuring panoramic views of the KEMPINSKI Hotel, the Latvian National Opera, and the Opera Park.

Currently, the building houses five tenants. The lease agreements are not registered in the Land Register. Historically, the building served as a residential house, but in the future, it can be adapted for both residential and commercial purposes, such as a hotel, embassy, or office space.

Key features and specifications:

+ Year of construction: 1903
+ Structure: brick masonry with wooden floors
+ Reinforced floor structures between the basement and the first floor; the building is currently in good technical condition
+ Equipped with a modern high-speed elevator
+ Outstanding location – next to the KEMPINSKI Hotel with panoramic views of the Opera building and park
+ courtyard of approximately 30 m²
+ Valuation: EUR 2,700,000

Historical background:

The building was constructed in 1903 as a rental property with shops. It was designed by renowned architects Heinrich Scheel and Friedrich Scheffel. The façade combines elements of Renaissance and Baroque styles with prominent Art Nouveau features.

A particularly notable element is the group of Atlantes supporting an illuminated glass globe – a work by sculptor August Volz, restored in 1989.

Historically, the first floor housed the bookstore and library of the building’s original owner, Kārlis Zihmanis.

Today, this tradition continues – the Zvaigzne bookstore has returned to the first floor, renewing its more than 100-year-old connection to this historic address.

Object on the map