Investment Opportunity: Apartment Building in Miyakojima City

This listing presents a commercial apartment building for sale in Miyakojima City, Okinawa Prefecture. The property is strategically located near Miyako Hospital and along the Central Avenue, offering excellent accessibility. A key feature is that the first floor is already occupied by a tenant, providing immediate rental income. The property boasts a substantial total floor area of 1,192.33 square meters (approximately 360.67 tsubo) on a land area of the same size. The building was constructed in August 1979, making it 46 years old, and features a reinforced concrete block (RCB) structure. The urban planning zone is designated as Category 1 Residential, with a building coverage ratio of 60% and a floor area ratio of 200%. There is no private road burden, and the land rights are ownership. Public transportation is convenient, with the "A&W前" bus stop approximately a 5-minute walk away.

According to the agent's notes, this is an income property with an estimated yield of approximately 6.7%. The property is described as being in a location with good convenience, close to the downtown area. The notes emphasize that an apartment building for sale has become available in this prime spot.

The surrounding area of Miyakojima is renowned for its stunning natural beauty and is a major tourist destination in Okinawa. The island is famous for its pristine white-sand beaches like Yonaha Maehama Beach and Sunayama Beach, as well as the unique, massive limestone cave system known as the Miyakojima City Underground Limestone Cave. This property offers not just a real estate investment but a foothold in a vibrant island economy driven significantly by tourism.