The commercial property located at 52-13 Myeongdong 2-ga, Jung-gu, Seoul, known as the Myeongdong Building, is a prime real estate offering situated in a bustling commercial area. The property spans a land area of 619.20 square meters (approximately 187.3 pyeong) with a building area covering 3369.30 square meters (around 1019.2 pyeong). The building, completed in April 1973, consists of six above-ground floors and one basement level, featuring a variety of spaces suitable for retail and hospitality purposes. With a floor area ratio of 464.9% and a building coverage ratio of 89.3%, the structure maximizes the use of its plot, providing expansive floor spaces ideal for commercial tenants.

Currently, the Myeongdong Building offers modernized spaces ready for new occupants, ranging from retail shops on the lower floors to hotel accommodations on the upper floors, with each level designed to cater to specific commercial needs. The property is strategically positioned in the heart of the Myeongdong commercial district, known for its high foot traffic and vibrant business environment, making it an attractive investment opportunity. The area is well-served by public transportation, including the nearby Myeongdong Station, and is surrounded by a plethora of shopping centers, dining establishments, and recreational facilities.

The financial aspects of the property include a sales price of 45 billion KRW, with a previous appraised value of 51.5 billion KRW, indicating a significant discount for potential buyers. The building previously generated a rental income of 150 million KRW per month before the vacancies, offering a yield of 4.2%. Despite the current vacancies, the resurgence of activity in the Myeongdong area post-pandemic suggests a high potential for rapid occupancy and income generation. This property, with its prime location, extensive renovations, and flexible usage, presents a lucrative opportunity for investors looking to capitalize on the revitalizing commercial landscape of Myeongdong.

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