[Transaction Analysis] Will You Pay Rent for Someone Else's Building or Build Your Own Headquarters and Make 5 Billion KRW Myeonmok-dong 1.6B KRW Development Case
Millions of KRW in Rent Drained Every Month How Long Will You Keep Enriching Others
Table of Contents
Top Summary Myeonmok-dong 367-29 Actual Transaction and Development Key Facts
- Target Property: 367-29 Myeonmok-dong (266-1 Myeonmok-ro), Jungnang-gu, Seoul, 2-lane corner location in Yongmasan Station area
- Transaction Price: Sale completed on May 11, 2026, for 1.6 Billion KRW
- Building Specs: Land 48.7 Pyeong (161 sqm), old commercial building from B1 to 2F completed in 1976
- Investment Insight: The building value of a nearly 50-year-old structure is virtually zero. This buyer purchased the potential of a perfect corner plot that will shine when demolished and rebuilt, rather than an old shell, at 32.85 million KRW per pyeong.
Business owners, how long will you just envy the success of others, saying building owners are above the creator. If you have ever sighed, saying if I had just saved up this rent, I could have bought my own building, today this article will be the turning point that completely changes the trajectory of your business.
The recent 1.6 billion KRW kkoma building transaction case near Yongmasan Station in Myeonmok-dong, Jungnang-gu perfectly proves how the development strategy of new construction after eviction becomes a solid shield for your business and leads to asset multiplication in the billions.
Structured Actual Transaction Data The Value of Land Seen Through Numbers
| Analysis Item | Detailed Data | Value Evaluation |
|---|---|---|
| Past Purchase Price | 1.05 Billion KRW (2019.02.24) | Previous owner realized a profit of 550 million KRW with an approx 7-year hold |
| Current Sale Price | 1.6 Billion KRW (2026.05.11) | Secured a reasonable new construction site at 32.85 million KRW per pyeong |
| Location Conditions | Corner of a 2-lane main road and a 4m side road | Maximization of visibility when constructing a headquarters or commercial building |
| Zoning | Type 2 General Residential Area | Optimized for new construction of a pleasant 4 to 5-story kkoma building |
1. Inflow Why Did the Buyer Purchase a Crumbling 1976 Building for 1.6 Billion KRW
Looking at the site photos, it is a very old commercial building with signboards attached chaotically. To the eyes of ordinary people, it would have looked like an unattractive old house, but the perspective of the buyer who bet 1.6 billion KRW was completely different.
The answer lies precisely in the goosebump-inducing success myth of 368-2 Myeonmok-dong located across the street. This is because the buyer clearly confirmed the potential of the land they purchased as a perfect blank canvas through the exit case of the building opposite them with their own two eyes.
2. Exploration The 5 Billion KRW Jackpot Role Model Proven by the Boss Across the Street
368-2 Myeonmok-dong across the street was also an ordinary and old building in the past. However, after the previous owner purchased this old building for 1.76 billion KRW in 2019, they boldly demolished it and erected a unique and stylish newly built 4-story headquarters in 2021.
What was the result of enduring while comfortably running a business in one's own headquarters instead of paying expensive rent to someone else. In December 2025, this building was sold for an astonishing 4.993 billion KRW. Even after generously deducting the construction costs (estimated at 1.5 to 1.8 billion KRW), they grasped a net profit of over 1.5 billion KRW, and if you add the rent saved over 6 years, its actual economic value is beyond imagination.
3. Behavior Change Now It is Your Turn to Use Your Imagination and Take Action
Now, let's return to 367-29, which was sold for 1.6 billion KRW this time. With a land area of 48.7 pyeong, it is a perfect corner plot bordering a 2-lane road and a 4m side road. Because the building's exposed faces are open on both sides, the visibility is actually more outstanding than the 5 billion KRW building across the street.
Imagine that you bought this building. You proceed with eviction and demolish the old building. And on this corner spot, you construct a stylish 4 to 5-story kkoma building. On the 1st floor, you open a wonderful showroom or brand restaurant that fully contains your philosophy, and the upper floors are used as the entire headquarters of your company or filled with blue-chip tenants.
It is the moment when your rent, which used to fly away into thin air and disappear every month, now transforms into powerful leverage that covers the loan interest of your own building and inflates asset value by units of billions.
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