Investment Opportunity in a Prime Naha Military Land Parcel

This listing presents a unique investment opportunity in a 22-square-meter parcel of military land located in Gushi, Naha City, Okinawa Prefecture. The land is part of the Kadena Air Base facility and offers a stable, government-backed income stream. The asking price is ¥5,126,000, which reflects a 52x multiplier on the annual lease income. The annual land lease fee for Reiwa 7 (2025) is ¥98,580, with a guaranteed annual increase rate of 1%. The property is classified as miscellaneous land with potential for residential use.

Critical details from the agent's notes include: the Reiwa 7 fixed asset tax is ¥8,408; registration fees are to be borne by the buyer; there is no planned return of the land; and the title is under a single name. Importantly, there will be no settlement of the Reiwa 7 fixed asset tax or lease fees, and there are no brokerage fees as the seller is the listing company. This creates a low-risk investment profile with a surface yield of 1.92%. The land is leased to the Japanese government, eliminating default risk, and offers advantages for inheritance tax planning due to its low appraisal value. Compared to private land, the fixed asset tax is also lower.