Investment Opportunity: Military Land Parcel in Ginowan City, Okinawa

This listing presents a unique investment opportunity: a 219 square meter parcel of military land (軍用地) located in the Kiyuna district of Ginowan City, Okinawa. The land is situated within the Camp Zukeran (キャンプ瑞慶覧) area and is designated as land with potential for residential development (宅地見込地). The property is offered at a price of 18,742,000 JPY.

Critical investment details from the agent's notes are translated as follows: Special Notes/Remarks: ■ Gross Yield: 2.08% ■ Inheritance Tax Assessment Multiplier: 2.6 (Reiwa 7 fiscal year) - Inheritance Tax Assessment Amount = Fixed Asset Tax Assessment Amount × Assessment Multiplier × 60% (40% reduction) ■ Scheduled for Return: Yes ■ Within Fence ■ Land Fee per m²: 1,782.92 JPY ■ The annual land lease fee is paid by the national government (no arrears). ● I bought it for future inheritance tax planning and for my family (family-oriented) ● Because the tenant, the national government, 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 an easy way to start real estate investment (low risk, low return) ● Because it is better than bank interest rates (asset replacement).

The property generates a stable annual land lease fee (年間借地料) of 390,459 JPY, which is paid by the Japanese government, ensuring a reliable income stream with no risk of tenant default. The gross yield is calculated at 2.08%. Additional annual costs include a fixed asset tax of 49,360 JPY (Reiwa 7 fiscal year). The land is fenced and is noted as having a 'scheduled for return' status, which is a common consideration for military-leased properties in Okinawa.

The area of Ginowan City is centrally located on Okinawa's main island, offering convenient access to the prefectural capital, Naha. A notable landmark in the vicinity is the Okinawa Convention Center, a major complex hosting exhibitions and events, located just a short drive away in the neighboring city of Mihara. Ginowan is also known for its coastal parks and marina. An interesting historical fact is that the land currently occupied by U.S. military bases like Camp Zukeran was strategically significant during the Battle of Okinawa in World War II, a pivotal and tragic chapter in the island's history.