Condominium, Palasta 10

Office building in Oldtown Riga

An exceptional opportunity to acquire a historic office building located in the very heart of Riga’s prestigious Old Town. This elegant property, originally commissioned in 1912, reflects the architectural charm of the early 20th century while offering functionality fully suited to modern business needs.

The building is situated on a land plot of 435.5 m² and offers a total area of 1,975.7 m², including a usable cadastral area of 1,609.8 m² and a highly efficient net leasable area of 1,491.08 m². Arranged across six floors, the property features two staircases that ensure convenient access and smooth tenant flow, as well as an elevator located in the central staircase for added comfort.

A significant advantage of this property is its strong income profile — 99% of the building is currently leased to reliable, high-quality tenants, providing immediate and stable rental income for the new owner. This makes the asset particularly attractive for investors seeking a secure, income-generating property with minimal vacancy risk.

The building is connected to the city’s central heating system with a heating distribution unit located in the basement, ensuring efficient and dependable heating throughout the premises.

Combining historical character, a prime Old Town location, and excellent occupancy with dependable tenants, this property represents a rare and compelling investment opportunity in one of Riga’s most sought-after areas.