Investment Opportunity in Awase, Okinawa City: A Unique Military Land Parcel
This listing presents a distinctive investment opportunity in the Awase district of Okinawa City: a 156 m² parcel of military land (軍用地) within the Awase Communications Facility. The property is offered at a price of 9.9 million yen. It is a single-title property with an undetermined return date. The land is classified as miscellaneous land (雑種地) and is located outside of urban planning zones. A key feature is the guaranteed annual land lease fee of 235,772 yen, which is paid by the Japanese government with no history of arrears, providing a stable income stream.
Critical financial details from the agent's notes are translated as follows: Special Notes/Remarks: <Other> ■ Gross yield: 2.38% ■ Appreciation rate: 1.19% (Reiwa 7 fiscal year) ■ Inheritance tax assessment multiplier: 2.9 (Reiwa 7 fiscal year)・Inheritance tax assessed value = Fixed asset tax assessed value × Assessment multiplier × 60% (= a 40% reduction) ■ Scheduled return: Undetermined ■ Inside fence ■ Land fee per m²: 1,511.36 yen ■ The annual land lease fee is paid by the state (no arrears) <Questionnaire on reasons for purchasing military land> ● I bought it for future inheritance tax measures and for my family (family-oriented) ● Because the tenant, the state, does not default (stable income) ● Because the land fee increases every year and grows like a snowball (compound interest effect) ● Because I wanted a hands-off investment (easy asset building) ● Because I thought it would be easy to start real estate investment (low risk, low return) ● Because it is better than bank interest rates (asset replacement).
The area of Awase in Okinawa City is known for its coastal scenery and proximity to significant infrastructure. An interesting local fact is that the nearby Awase Tidal Flat was once one of Okinawa's most important wetlands for biodiversity, though much has been reclaimed. The closest major landmark is the Okinawa Comprehensive Athletic Park, a vast public sports complex that hosts major events and is home to the Okinawa Cellular Stadium, where local football matches are played.
