Investment Opportunity in Onna Village: A Warehouse Unit with Significant Considerations

This listing presents a warehouse unit for sale in the Nakama district of Onna Village, Okinawa Prefecture. Currently tenanted with a monthly rental income of 33,000 yen and a gross yield of 19.03%, the tenant is scheduled to vacate on February 7, 2026. The property is priced at 2.08 million yen, with the building itself valued at a nominal 1 yen and a land share of 53/1000.

Critical agent notes provide essential, detailed disclosures about the property's condition. The building is old, and common areas show significant age-related deterioration. There is no management association or regulations, and consequently, no management fees or repair reserve funds exist. The rental unit is on the 3rd floor of a three-story building with no elevator. Inside, the flooring consists of plywood sheets laid over old floor materials. Walls have cracks, and the ceiling shows signs of past water leakage. The gas supply is non-functional, rendering water heating equipment unusable. Lighting is installed via power outlets, and the built-in sockets are not operational. Water pipes are old and the water is not potable. Two window-type air conditioning units are left as fixtures. Concrete spalling is visible in places but remains unaddressed as there are no repair plans. The sale is explicitly "as-is," and residential use is not anticipated.

Onna Village is a renowned area on Okinawa's west coast, famous for its stunning beaches and clear waters, forming part of the Okinawa Kaigan Quasi-National Park. A notable nearby landmark is the iconic Manza Beach, known for its beautiful coastline and proximity to major resort hotels. This location offers potential for investors familiar with commercial or storage property management, given its position in a popular tourist region, though the property requires a buyer prepared for its specific, disclosed condition.