Residential and Commercial Investment Property in Naha, Wakasa
This versatile four-story building in Naha's Wakasa 2-chome district presents a compelling investment opportunity, currently configured as a mixed-use residential and commercial property. The structure offers significant income potential with a projected gross yield of 5.88% at full occupancy. According to the agent's detailed notes, the current configuration and projected rents are as follows: The first floor is an office space with a projected monthly rent of 70,000 yen. The second floor is currently used as a residence by the owner (a 4LDK layout) but has a projected residential rent of 80,000 yen. The third floor is a rental unit (4LDK) with a projected rent of 80,000 yen. The fourth floor contains two rental units: a 3DK and a 1DK, with projected rents of 70,000 yen and 48,000 yen respectively. This brings the total projected monthly income to 348,000 yen (4,176,000 yen annually). The building details confirm: 1F: Office, 2F: Residence (4LDK), 3F: Rental (4LDK), 4F: Rental (3DK & 1DK).
The reinforced concrete (RC) building was constructed in January 1994 and sits on a 165.48 sqm plot of land. The total building area is a substantial 316.93 sqm. This property is ideal for an owner-occupier seeking rental income from other floors or for a full-scale apartment building investment. Its location in central Naha ensures strong rental demand. The property is conveniently located approximately a 12-minute walk from the Monorail's Miebashi Station and a mere 2-minute walk from the Wakasa bus stop.
The surrounding Wakasa area is a vibrant part of Naha City, known for its proximity to the scenic Wakasa Bay waterfront. A notable nearby landmark is the Naminoue Shrine (Naminoue-gū), a historically significant Shinto shrine perched on a cliff overlooking the ocean, which has been a site of worship for centuries and is dedicated to the protection of sailors and fishermen. The area blends residential calm with easy access to Naha's urban core, making it attractive to both long-term residents and visitors.
