Commercial Leasehold Land in Okinawa's Popular Higashionna Area
This is a substantial commercial leasehold property located in the sought-after Higashionna district of Yaese Town, Okinawa. The land spans 7,220 square meters (approximately 2,184.05 tsubo) and is offered at a price of 500 million yen. The property is designated as residential land (宅地) within a Category 1 Residential and Category 1 Low-Rise zone, with a building-to-land ratio of 60% and a floor area ratio of 150%.
Critical agent notes provide essential details about the leasehold terms. The leasehold period runs from April 5, 2022, to April 4, 2052, for a full 30-year term. It is noted that the ground rent may change after a transfer of the leasehold rights. The property offers an attractive investment yield, with a surface yield of 8.13% per annum. After deducting the security deposit, the net yield is calculated at 9.24%.
The area of Yaese Town is known for its blend of residential tranquility and developing commercial infrastructure. An interesting local fact is that the town is home to the iconic Gyokusendo Cave, one of Japan's most spectacular limestone caverns and part of the Okinawa World cultural theme park. The property is also within reasonable proximity to major tourist destinations like the peaceful and scenic Fukushūen Garden, a classical Chinese garden in Naha that offers a serene escape.
