Mixed-Use Property with Existing Rental Income in Ginowan City

This unique property in Ginowan City, Okinawa, presents a significant opportunity as a mixed-use building with established rental income. The structure combines residential, commercial, and storage spaces across its three stories on a generous 433.8 sqm plot. The building itself offers a substantial 377.27 sqm of floor space and was originally constructed in September 1975, featuring a reinforced concrete block (RCB) structure.

Critical agent notes provide essential details on the current status and income potential. The first-floor residence is currently vacant and requires major renovation. The warehouse is also vacant. Importantly, the second and third-floor commercial spaces are currently tenanted, generating a steady monthly income of 60,000 yen for the 2nd floor and 63,000 yen for the 3rd floor. This translates to an annual income of 1,476,000 yen and a surface yield of 2.2%. The land is divided into three separate parcels, with a public footpath running between them. The warehouse was an addition built in September 1977 (Showa 52). It is also noted that leak prevention measures have been taken for the shop areas.

The property is situated in the Nagata district of Ginowan City, a central location on Okinawa's main island. The area offers convenient urban living with excellent access to the island's extensive road network. A notable landmark nearby is the Okinawa Convention Center, a major venue for exhibitions and events, highlighting the region's growing status as a business and tourism hub. This property is ideal for an investor seeking a project with immediate cash flow from the commercial units and the potential to add value through the renovation of the vacant residential and storage spaces.