Property Overview: Land and Building in Tenbaku, Nagoya
This property comprises two parcels of residential land and a four-story steel-reinforced concrete apartment building located in the Tenbaku area of Nagoya, Aichi Prefecture. The total land area is 333.88 square meters, combining a 178.50-square-meter lot and a 155.38-square-meter lot. The building, constructed in February 1987, has a registered total floor area of 504.30 square meters, distributed across the first floor (141.30 sqm), second floor (145.00 sqm), third floor (109.00 sqm), and fourth floor (109.00 sqm). The structure is classified as a steel-reinforced concrete building with a shingle sand asphalt roof. The property is zoned for semi-industrial use, with a building-to-land ratio of 60% and a floor area ratio of 200%. There is currently an occupant in the building. The base bid price is set at 53,690,000 yen, with a minimum acceptable bid of 42,952,000 yen. The property is being sold through a sealed-bid court auction, with the bid deadline on June 10, 2026. The gross yield is reported at 15.7%, and the cap rate at 11.4%.
