Investment Opportunity: Mixed-Use Building in Urasoe, Okinawa
This property presents a significant investment opportunity in the thriving city of Urasoe, Okinawa. It is a mixed-use building currently operating as a fully occupied shop and apartment complex, generating a substantial annual income of 5.66 million yen with a surface yield of 6.96%. The building itself offers a total floor area of 398.2 square meters (120.45 tsubo) spread over three storeys. The first floor is configured as a shop, while the second and third floors are used for residential and office purposes.
The property sits on a land plot of 195.07 square meters (59 tsubo) with ownership rights. Notably, there is an additional leased land portion of approximately 36.8 tsubo, which generates an annual ground rent income of 145,728 yen. The structure is a robust Reinforced Concrete Block (RCB) construction, built in July 1981. Key features include two parking spaces and the potential for pet ownership, subject to consultation. The property is located within an Urbanization Promotion Area zoned as Category II Residential.
Prospective buyers should note the associated acquisition costs, which include agency commission, registration fees, and a consent fee of 669,075 yen for the transfer of the leased land title. The property is listed at a price of 69 million yen.
The area of Urasoe is a dynamic residential and commercial hub on Okinawa's main island, conveniently located between Naha and the central region. An interesting local fact is that Urasoe was once the capital of the Ryukyu Kingdom before it moved to Shuri. The closest major landmark is the iconic Okinawa Convention Center, known for its distinctive wave-like architecture and hosting major events, located just a short drive away in the adjacent city of Ginowan.
