Spacious Shop-Residence with Dual Income Potential in Nago, Okinawa
This unique property in Nago City, Okinawa, presents a versatile opportunity as a combined shop and residence on a generous 706.79m² (approximately 213.8 tsubo) plot. The building itself offers a total floor area of 222.05m² (67.17 tsubo), comprising a 35.02 tsubo residential section, a 10.34 tsubo covered garage, and a substantial 23.75 tsubo commercial space. This layout provides immediate potential for generating rental income; the shop portion can be leased, with expected monthly revenue ranging from 100,000 to 150,000 yen. Alternatively, the entire property offers flexibility for customization. As detailed in the agent's notes, the shop section can be renovated for use as a two-generation household home. The property is currently occupied, so viewings require a prior appointment.
The agent's special notes provide a detailed cost breakdown: The land, at 201.39 tsubo valued at 250,000 yen per tsubo, amounts to 50,373,671 yen. The building, at 67.17 tsubo valued at 1,000,000 yen per tsubo, totals 67,170,000 yen. Applying a present value rate of 78.93% results in a building value of 53,000,000 yen. The total replacement cost is calculated at 103,000,000 yen (50,000,000 yen for land + 53,000,000 yen for building). The present value rate of 78.93% is derived from the formula for reinforced concrete (RC) structures with a standard lifespan of 47 years and this property's age of 11 years: 1 - 0.9 × (11 ÷ 47). The notes also state that even if the land is calculated at 200,000 yen per tsubo, the total would be 93,000,000 yen.
Constructed in November 2013, this RC (reinforced concrete) building is a solid 12-year-old structure featuring a 5LDK layout. It includes desirable amenities such as separate bath and toilet, a reheating function for the bath, air conditioning, and is situated on a corner lot. Its location offers excellent access, being close to National Route 58. The area of Nago is known as the gateway to Okinawa's lush northern region. An interesting local fact is that Nago hosts the annual Okinawa International Orchid Show, one of Asia's premier orchid exhibitions. The property is also within a reasonable distance of major tourist attractions like the Okinawa Churaumi Aquarium, one of the world's largest aquariums, located further north on the Motobu Peninsula.
