Investment Opportunity: Military Land Lease in Chatan, Okinawa
This listing presents a unique investment opportunity: a 575 m² plot of land located in Sunabe, Chatan Town, Okinawa Prefecture. The land is designated as military land (軍用地) specifically part of the Chatan Oil Storage Facility (北谷貯油施設). The property is offered for sale at 40,75 million yen.
Critical agent notes provide essential details for investors. The special remarks (備考) are as follows: No scheduled return (返還予定無し), a 41x multiplier (41倍), annual land fee of 993,732 yen (年間地料993,732円), land projected for residential use (宅地見込み地), and settlement of this year's land fee (今年度地料清算あり). This translates to a stable annual income of approximately 993,732 yen, with the price reflecting a 41x multiplier on this income. The land is anticipated for future residential development, and the current year's land fee will be settled.
The property offers a stable, government-backed annual income, which also contributes to a high collateral valuation, making it a recommended option for inheritance tax planning strategies. The land fee per square meter is 1,728.23 yen, with a scheduled increase rate of 1.04% in Reiwa 7 (2025). The transaction method is exclusive dedicated agency (専属専任媒介).
The Sunabe area of Chatan is a highly popular coastal district known for its seawall walkway, cafes, and international atmosphere. It is conveniently located near major American Village, a large entertainment and shopping complex. A fascinating fact about Chatan is that it is home to the only Starbucks in Japan built within a former World War II artillery position, which has been repurposed into a park. The closest major tourist attraction is the iconic Mihama American Village, featuring a giant Ferris wheel, diverse dining, and shopping, all within a short distance.
