Commercial and Residential Property in Itoman City, Okinawa
This property is a shop with residential space located in the Itoman area of Itoman City, Okinawa. The building has a total floor area of 134.41 m² (approximately 40.66 tsubo) on a land plot of 78.02 m² (23.6 tsubo). The structure is concrete block (CB) construction, built in April 1989, making it 36 years old. It is situated within a commercial use district in an urbanization promotion area, with a high building coverage ratio of 80% and a floor area ratio of 400%. The property fronts a 5.4-meter wide road to the south and has no private road burden. The land rights are ownership. A key feature is that the property is currently tenanted, generating a monthly rental income of 100,000 yen.
The property has recently undergone a significant price reduction, now listed at 19.8 million yen, down from the previous asking price of 29.8 million yen. This presents a potential investment opportunity in the increasingly popular "Itomaru" area. The location is highly convenient, with the Itoman Ichiba Mae bus stop approximately a 3-minute walk away.
The area of Itoman is historically known as a center for Okinawa's fishing industry and is famous for its unique culture, including the annual Itoman Hari (dragon boat races). A major landmark and significant tourist attraction nearby is the Okinawa Peace Memorial Park and the Cornerstone of Peace, a solemn and expansive park dedicated to remembering all those who lost their lives in the Battle of Okinawa. It is a place of reflection and offers panoramic views of the ocean.