Tuesday, March 2nd, 2010
I surveyed the following investment property this afternoon.
Land: 148.76 sq. meters
Floor area: 487.28 sq. meters
Structure: RC / 5 stories
Built in: 1982
Current annual return: approximately 20,000,000 yen
Current operation rate: 5/6
Asking price: 148,000,000 yen
Others: in the middle of a commercial zone of a growing Koshigaya station; 1F – beauty parlor & ramen shop, 2F – karaoke bar & izakaya (= Japanese pub), 3F – vacant, & 4F+5F – hotel for short stay
The commercial property is in the middle of a commercial district spreading in the east of Koshigaya station. Just like other satellite cities of Tokyo, Koshigaya is growing in population and its commercial districts are bustling with more shoppers than before.
In particular, approximately 10,000,000-sq.meter-land right in front of Koshigaya station has been developed and a new commercial zone (e.g. an about 100-meter high condominium, shops, and restaurants) will be created on the land in near future.
Securing financing to purchase this property may be difficult largely because of its characteristic being commercial. In other words, it may be suitable for cash buyers looking for a high yield from a property in a suburb of Tokyo.
Please let us know, if you are interested in it.
Minato Asset Management