New King Building: A Prime Commercial Investment in Urasoe, Okinawa
Presenting the New King Building, a fully occupied commercial tenant building offering a stable and high-yield investment opportunity in the bustling city of Urasoe, Okinawa. This property is strategically positioned approximately 20 meters from Route 58 on Yafuso Avenue, ensuring excellent visibility and accessibility. The building is currently operating at full capacity with a high tenant occupancy rate, providing immediate and stable rental income.
According to the detailed agent notes, the property management number is D25-05. The total price is ¥155,000,000 (including tax). The building is located at 3-7-14 Yafuso, Urasoe City. It is conveniently situated about a 2-minute walk from the "Yafuso" bus stop and a 4-minute walk from a convenience store. The land area is 48.03 tsubo (158.8 m²), and the building area is 542.69 m² (164.16 tsubo). It is important to note that of the land area, 4.3 tsubo (14.31 m²) is leased land (底地). The zoning is commercial area, and the land classification is residential land. The building-to-land ratio is 80% with a floor area ratio of 400%.
The structure is a reinforced concrete (RC) building with a flat roof, comprising one basement level and six above-ground floors, constructed in October 1990. Key facilities include an elevator (EV), water supply, and sewerage. The fixed asset tax for Reiwa 7 (2025) is ¥667,421. The frontage is 16 meters on the north side, with road widths of 8 meters on the north side and 6 meters on the east side.
The financial breakdown reveals strong performance. Annual income totals ¥10,993,600, comprising monthly rent and common area fees of ¥850,300 (¥10,203,600 annually), antenna income of ¥55,000 monthly (¥660,000 annually), and land lease fees of ¥130,000. This results in a surface yield of approximately 7.1%. Annual expenses total ¥1,436,813, covering EV management fees (¥171,600), building management consignment fees (¥445,992), security camera costs (¥151,800), and the fixed asset tax (¥667,421), maintaining the surface yield at about 7.1%.
Critical remarks from the agent include: the building is currently fully occupied (all 10 rooms); a portion (14.31 m²) is leased land (with a 10-year business-purpose fixed-term land lease contract in place with the building owner); there are encroachments on the east side road and the west side neighboring land; and the basement floor is currently unused but can be utilized or rented out (with a past rental record of ¥30,000 per month). The handling real estate company is Oroku Shokai Co., Ltd.
The area of Urasoe is a dynamic residential and commercial hub on Okinawa's main island, seamlessly connected to the capital, Naha. An interesting local fact is that Urasoe was once the seat of the Ryukyu Kingdom's government before it moved to Shuri. For visitors and residents alike, a major nearby attraction is the Okinawa Prefectural Museum & Art Museum, a cultural complex offering deep insights into the history, nature, and art of the Ryukyu Islands.
