For sale - commercial property close to Riga

The name “Zaļu Street” can be translated from Latvian as “Grass Street.” This name was not given by chance—at one time, the street was home to picturesque estates.

During the Soviet era, the territory was owned by the Latvian Society of Hunters and Fishermen, which operated a shooting range with moving targets on the site. Hunting equipment and fishing gear were also repaired here.

In the 1990s, the land was privatized and transferred to a private owner. In the post-Soviet period, the territory was primarily used for commercial purposes, housing a sewing factory and warehouses. Today, all buildings on the site are adapted for light industrial use, including production workshops, warehouses, workshops, administrative buildings, and hangars.

Located in one of Riga’s most beautiful and promising districts in terms of ecology and commercial development, this property spans a total area of 32,949 square meters. Situated at 6 Zaļu Street, Riga, the site includes 14 different buildings and structures with a combined area of 5,780.70 square meters.

The land plot is situated between Riga’s main waterway, the Daugava River (Western Dvina), and a street that provides a direct connection to Old Riga.

The A7 Via Baltica highway, which links Riga with Tallinn and Vilnius, also runs through this area.

The property is located near the city center, with a drive to Old Riga taking no more than 10–15 minutes. It is adjacent to one of Riga’s microdistricts, where several large-scale residential and urban infrastructure projects targeting the middle class are planned.

Nearby is the city’s newest crossing over the Daugava—the modern Southern Bridge, commissioned just two years ago. This location offers exceptional logistical advantages, as the Southern Bridge is part of Riga’s developing ring road, designed to facilitate citywide travel while bypassing the heavily congested historical and administrative center.

The land plot is free of encumbrances, allowing the new owner full flexibility to develop the territory at their discretion—both commercial and residential developments are permitted.

The price for the entire property, including all buildings, is €3.2 million.

The buyer will also acquire SIA “Alrisa,” a well-established company responsible for the maintenance and operation of the land plot. This company has been successfully operating in the Latvian real estate management market for years and holds valid lease agreements on the property.

Although the land plot has primarily been used for commercial purposes since the 1990s, it remains a picturesque area with great potential for transformation. It could be revitalized as a residential neighborhood, office center, health or sports complex, or a large urban infrastructure facility designed to enhance residents’ quality of life. There is also the option to develop a private residential estate.

The area is characterized by its stunning Baltic pine trees, proximity to the river, unique landscape with elevation changes, and fresh, clean air—all of which contribute to its appeal.

The site offers flexibility for both renovation and reconstruction of existing buildings. Converting industrial structures into residential spaces is a well-established practice in Riga. Alternatively, all current buildings can be demolished to make way for entirely new developments, with no restrictions on such activities.

Notably, the owners of adjacent land plots on Zaļu Street have announced plans to construct residential buildings primarily targeted at the middle class. The land at 6 Zaļu Street is well-suited for the development of multi-story and multi-apartment residential buildings, offering stunning views of the Daugava River and Hare Island. Additionally, the site is ideal for infrastructure projects that could serve future residents, such as retail stores, beauty salons, and sports complexes.

The current owner will assist with the preparation and execution of the transaction, including all necessary legal documentation and registration in the land register.

If required, we can arrange a meeting with the investor’s representative in Riga, provide an official invitation, organize accommodations, and offer a comprehensive property presentation.