"Commercial Area Embracing 'Hyundai Department Store & Rodeo Street'!"…Cheonho Station's '11.7 Billion KRW' Corner Building, Bought for 'This'
"A double station area commercial district embracing a 'department store' and 'Rodeo Street'. An 'A+' grade location that is almost impossible to fail, wouldn't you agree?"
Recently, an 8-story corner building in Cheonho Station, the largest commercial area in eastern Seoul, was transacted for 11.75 billion KRW. We analyzed the success formula of this investment.
'Department Store + Rodeo Street + Double Station Area'…The 'Ultimate' Location
The key to this investment is, without a doubt, its 'location'.
- Transaction Date: March 2019
- Sale Price: 11.75 billion KRW (approx. 116.3 million KRW per 3.3㎡)
- Key Points:
- Double Station Area: Cheonho Station, where Subway Lines 5 and 8 intersect.
- Hyundai Department Store: Hyundai Department Store Cheonho Branch, located right next door, is a powerful 'anchor' guaranteeing high foot traffic in the area.
- Cheonho Rodeo Street: Cheonho Rodeo Street, extending behind the department store, is a representative 'entertainment and dining' commercial district in eastern Seoul that never sleeps.
'Semi-New' Building in a 'General Commercial Area'
The building itself also has significant appeal.
"As a 'semi-new' building constructed in 2005, it allows for stable rental income without the immediate need for major renovations."
Above all, the fact that this land's zoning is a 'General Commercial Area', which is the most valuable among commercial lands, can be considered the 'finishing touch' as it guarantees future 'reconstruction' value.
'Location' Does Not Betray
This 11.75 billion KRW transaction once again proves the eternal truth of real estate investment.
"Invest in the value of the 'future' that 'location' guarantees, not in the dilapidated appearance of the 'present'. A good location never betrays."
This was a successful transaction case of a building that was 'destined to succeed' in a 'destined to be great' location.
#Key Keywords & Tags Recommended
#SmallBuilding #BuildingSale #SeongnaeDong #GangdongGu #RealEstateInvestment #IncomeProperty #BuildingOwner #WealthTech #SeoulRealEstate #CheonhoStation #CheonhoRodeoStreet #HyundaiDepartmentStore #StationArea #CommercialAreaAnalysis #CapitalGain #RealEstateNews #SuccessfulInvestment #AssetManagement #LocationIsKing
