house for sale - Rataskaevu 10, Vanalinn, Tallinn, Harjumaa

Historical Building in the Heart of Tallinn – A Stable and Profitable Investment Opportunity
This historical building with a rich and dignified past is a true gem of Tallinn's Old Town, now fully rented out. In December, it will become home to a new and unique attraction in the Estonian cultural scene – the Museum of Illusions, which will bring even more life and visitors to the area. The annual rental income is €150,000 + VAT, ensuring stable and reliable returns for the investor.
Location and Features:
• The property is located in the heart of Tallinn's Old Town, nestled against the Toompea retaining wall on one side and opening directly onto Rataskaevu Street on the other.
• Next to the building is the iconic Pikk Jalg (Long Leg) stairs, emphasizing the location's historical and touristic significance.
• The property includes a cozy courtyard, adding intimacy and exclusivity to the site.
Current Tenants and Future Potential:
• The ground floor houses the beloved and well-known vegan restaurant "V", a popular destination among both locals and tourists.
• The second floor will soon host the Museum of Illusions – an innovative and one-of-a-kind cultural attraction bringing fresh and distinctive energy to Tallinn's cultural landscape.
• The basement, with a history dating back to the 20th century, carries unique stories, including its use as a Cold War-era nuclear bomb shelter during the Soviet period, which can be restored as a rare historical feature if desired.
Property's Versatile Potential:
Although the building is currently fully rented out, its prime location and layout offer long-term opportunities for a variety of uses:
• Boutique hotel – The historic atmosphere and excellent location create the perfect setting for luxury accommodation.
• Gallery or cultural center – Ideal for art exhibitions or creative events.
• Commercial building – A prestigious address combined with flexible space solutions for business environments.
• Residential apartments – Unique living spaces in the heart of Tallinn's Old Town.
• Entertainment venue – A club, cabaret, or casino where history and modernity intertwine.
• Museum or creative school – An inspiring setting for cultural or educational activities.
Investment Opportunity:
The building currently provides a stable annual rental income with an annual yield of 6.82%, making it an ideal investment property. The opening of the Museum of Illusions is expected to attract even more attention and visitors, further increasing the value for tenants and the overall property.
Summary:
This unique historical building in Tallinn's Old Town is a combination of history, prestige, and profitability. Whether your goal is a stable investment or bringing versatile projects to life in the future, this property is a rare opportunity. Don't miss the opportunity to acquire one of the Old Town's most valued and unique properties at the most affordable price per square meter!