Old Riga’s legacy — awaiting your vision!

Exclusive Property in the Historic Heart of Riga — Vaļņu Street 32
We proudly present a unique investment opportunity in the very heart of Old Riga, located within the block bordered by Vaļņu, Audēju, 13. Janvāra Street and Aspazijas Boulevard. This five-story administrative building with a total area of 1954 m² and a land plot of 607 m² offers exceptional potential in one of Riga’s most dynamic and prestigious districts.

Key Advantages
Prime location: high foot traffic, excellent proximity to public transport hubs, and a thriving premium commercial environment.

Architecture: built in 1938, the building has preserved its historical charm and architectural significance within the cityscape.

Functional layout: retail and club spaces occupy the ground floor and basement, with office areas on the upper floors.

Infrastructure: connected to city utilities; active electricity and sewerage, with water supply available next door.

Development potential: situated within JC zoning (mixed-use city center), allowing flexible future concepts.

Commercial & Investment Potential
Ideally suited for premium office spaces, boutique hotels, or luxury apartments, retaining the building’s unique historic character.

Currently partially leased, ensuring an immediate cash flow while allowing phased redevelopment.

Indicative rental market levels in Old Riga:
retail spaces ~€10/m²,
office spaces ~€5-7/m² depending on condition.

Market Valuation
According to the latest independent appraisal, the property’s market value stands at €1.4 million, with land accounting for €280,000 and the building approximately €1.12 million. Given the location and adaptive reuse possibilities, this asset offers significant upside for value-added investors.

For more information and to arrange a private viewing:

Latvia Sotheby’s International Realty
Your trusted partner for refined investments and historic real estate in Latvia.