Parking Lot Investment Opportunity in Okayama City

This listing presents a parking lot investment property located in the Higashi Ward of Okayama City, Okayama Prefecture. The land, with a total area of 148 square meters (approximately 44.77 tsubo), is situated in a favorable environment along a prefectural road and is just a 3-minute walk from the local Kagachi Elementary School. The property is currently vacant land and is being sold as-is.

Critical agent notes provide essential details. The property is equipped with public water supply and sewerage. Road access details specify a 7.7-meter wide public road to the west, with a frontage of 26 meters. Important remarks include: the property is sold in its current condition; the seller is exempt from liability for non-conformities in the contract; existing parking lot rental contracts can be terminated for handover. Currently, parking spaces are being recruited at 5,000 yen per vehicle per month, with four vacant spaces available. The surface yield is approximately 3.77%, with a net yield of about 2.93%. If fully occupied, the potential surface yield rises to approximately 7.2% and the net yield to about 6.36%. Additional notes state there is no water supply connection within the property lot; a beneficiary contribution is required for the public sewer connection; the fixed asset tax for the 2025 fiscal year is 58,250 yen; and the area is zoned for the first type of outdoor advertising permit.

The area of Kagachi in Higashi Ward offers a blend of residential calm and accessibility. An interesting local fact is that Okayama is famously known as the "Land of Sunshine" due to its remarkably low annual rainfall and abundant sunny days. For visitors and residents alike, a major nearby landmark is the stunning Okayama Korakuen Garden, one of Japan's three great gardens, located a short drive away and offering a classic example of Japanese landscape design.