Investment Property in Ishigaki City
This is a multi-unit investment property located in the commercial district of Ishigaki City, Okinawa Prefecture. The building comprises a west side first floor constructed in November 1973 and a second floor added in January 1986. The structure is reinforced concrete block construction. The property is currently fully occupied, with five commercial tenant spaces and nine residential units. The total monthly rental income is 611,000 yen, amounting to an annual income of 7,332,000 yen, representing a gross yield of 9.16 percent.
The property sits on a land area of 252.29 square meters (approximately 76.32 tsubo) with a total building floor area of 337.44 square meters (approximately 102.08 tsubo). The building coverage ratio is 80 percent and the floor area ratio is 400 percent. Utilities include public water supply, Okinawa Electric Power for electricity, propane gas, and a septic tank system. The road frontage is approximately 19 meters along a south-facing public road with a width of about 4 meters. There is a setback requirement. The property is zoned for commercial use within an area not subject to urban planning line designation.
The property is located in the Ishigaki/ishigaki school district. The title is freehold ownership. The timing for transfer is negotiable. This property is being offered as a brokerage transaction.