Commercial premises in the central part of Vilnius, in the old town. Residential house Totorių g. 5 is strategically located near the street, so it is very visible in the surrounding environment. The building was built in 1908. the facility is located one hundred and fifty meters from Gediminas avenue. Easy access to the main locations and hotels in Vilnius.
Premises located at Totorių g. 5-3, LT-01121 Vilnius, physical condition is good. On the date of value determination (September 20, 2019), the object of the assessed property, which consists of 193.14 sq. m non-residential premises – commercial premises located on Totorių st. 5-3, Vilnius, the determined market value, taking into account the conditions and limiting circumstances discussed in this report, the nature of the property and the valuation case, the information examined above, in our opinion, may be 445,000 Euros (four hundred and forty-five thousand Euros).
The market value of the appraised object described in the report is determined as of the above date. Constantly changing economic, social, political and physical conditions have different effects on property values. Even after a relatively short period of time, property values can change significantly and need to be re-established based on changing market conditions.
The rapidly changing economic environment has a direct influence on the performance results of business objects, purchase and sale prices and the volume of long-term investments. The value of business objects in the market is determined by the potential future income that the object is capable of generating in the short, medium and long term. As a result, the macroeconomic environment, the expected prospects of a specific activity sector, related to changes in the investment and competitive environment are very important.
The object of the property falls into the Old Town district. The old town district is located in the center of the city of Vilnius, basically coincides with the boundaries of the old town of Vilnius, but also includes Užupis and Paupis (see Figure 6). The Old Town is the oldest part of the city of Vilnius, located on the left bank of the Neris River, south of the Castle Hill. The area of the old town of Vilnius is 3.59 km².
Totorių gatvė is a category D street about 600 meters long (this category includes auxiliary streets designed to distribute traffic flows to small areas, access to individual buildings and other objects). Number of houses (addresses): 28. Totorių street is an important connection between the capital Old Town and New Town, there is always a large flow of Vilnius residents and guests of the city due to the catering establishments and shops located here.
The street is bordered by Gediminas pr., Labdarių, Odminų, Liejyklos and sv. Ignoto streets, which are characterized by vitality due to the abundance of services, trade, catering companies, and educational institutions located in them.
Various state institutions, business and shopping centers, workshops and artists’ studios are located in the immediate vicinity of the appraised property. “State Vilnius Small Theater”, “Lithuanian National Opera and Ballet Theater” and “Lithuanian National Drama Theater” are located just a few minutes away from the valued object.
A few steps away – plenty of restaurants, cafes, luxury shops, numerous cultural and art institutions of the center of Vilnius and the Old Town, ensembles of the old city architecture. Gediminas Castle, the Palace of the Lords, Cathedrals and Lukiški Squares can be reached in less than five minutes. Nearby, the reconstructed Vilnius Bernardine Garden, Kalnui
the park or the Neris embankment, perfect for active leisure.
The area of the object is characterized by a developed infrastructure, convenient access to any district of the city of Vilnius, both by car and public transport.
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