GR Building: A Commercial Investment Opportunity in Sapporo
Presenting the GR Building, a commercial property located in the Higashi-Sapporo Yonjo 2-chome area of Sapporo's Shiroishi Ward, Hokkaido. This three-story steel-framed building, constructed in April 1979, offers a significant investment opportunity with a total floor area of 594.71 square meters (approximately 179.89 tsubo) on a land plot of 357.02 square meters (approximately 107.99 tsubo). The property is strategically positioned just a 5-minute walk from the Higashi-Sapporo Station on the Sapporo Municipal Subway Tozai Line, ensuring excellent accessibility.
The building features a total of nine units, with a current occupancy of three units as of February 2026. The layout includes a tenant space on the first floor, four office units on the second floor, and a mix of one 1DK and three 2DK units on the third floor. The property is currently tenanted, and the lease agreements are to be transferred to the new owner. Key financial figures include a current annual rental income of 2,316,000 yen, yielding a current surface return of approximately 4.00%. The projected annual rental income at full occupancy is 5,100,000 yen, which would result in a projected surface yield of approximately 8.82% based on the asking price of 57.8 million yen.
Critical Agent Notes (Translated from Japanese): The yield is the ratio of the annual rental income (including common service fees, etc.) to the sales price, and is calculated before deducting public charges and other expenses necessary to maintain the property. Furthermore, the projected rent and projected yield are calculated based on market rent, adding rent for vacant units to assume full occupancy. Please note that rental income is not guaranteed to be reliably obtained in the future. (Survey date: As of February 6, 2026). Additional remark: The property is currently leased (lease agreements to be transferred).
The building is situated on a road with a width of approximately 11.0 meters on the southwest side, within a Quasi-Industrial Zone (building-to-land ratio 60%, floor area ratio 200%). Amenities include city gas for hot water supply and kerosene for heating. Parking space is available on-site. The area around Higashi-Sapporo Station is a well-developed suburban hub. An interesting local fact is that Sapporo's efficient grid-like street layout, inspired by American city planning, extends into neighborhoods like this, making navigation straightforward. The closest major landmark is the iconic Sapporo Dome, a multi-purpose stadium famous for hosting events during the 2002 FIFA World Cup and home to local baseball and football teams, located just a few subway stops away.
