Investment Opportunity: Military Land Parcel Adjacent to Kadena Air Base
This listing presents a unique investment opportunity in the form of a 288 square meter parcel of military-leased land (軍用地) in the Uechi district of Okinawa City, Okinawa Prefecture. The land is designated as "woodland" (山林) but is classified as prospective residential land (宅地見込地). The property is under a single-owner title and is leased to the government, specifically for use related to the nearby Kadena Air Base.
The agent's notes highlight significant advantages of investing in military land compared to traditional real estate like apartment buildings. Key benefits include no vacancy risks or repair costs, as the tenant is the state, ensuring stable and secure annual rental income. The land is easier to sell and liquidate, is less affected by economic fluctuations, and can be used as collateral for low-interest loans due to its high collateral value. Unlike buildings, the land does not deteriorate or incur maintenance costs.
Specific financial details are provided: the asking price is 27,320,000 JPY. The annual lease fee from the military is 496,908 JPY (for Reiwa 7 fiscal year), resulting in a yield multiplier of 55x. Additional annual costs include a fixed asset tax of 47,174 JPY and a landowner association fee of 1,987 JPY (0.4%). Both the annual military land fee and the fixed asset tax will be prorated and settled at the time of transaction completion. There is no scheduled return (返還予定) of the land from the military. The agent notes that price negotiations are possible.
The property is located in Okinawa City, a central hub of the main island. The area is heavily influenced by the presence of Kadena Air Base, one of the largest and most strategically important US military facilities in the Asia-Pacific region. An interesting historical fact is that Kadena Air Base was originally built by the Imperial Japanese Navy in 1944 and was seized by US forces during the Battle of Okinawa. For investors or those interested in the local culture, a major nearby tourist attraction is the Okinawa Zoo & Museum (Okinawa Kodomo no Kuni), a large family-friendly park featuring animals, museums, and recreational facilities.
