[Assessed 90.8%] Apartment building in Kashiwa, Chiba — 10 min from Kashiwa Sta.

An apartment building a 10-minute walk from Kashiwa Station, served by both the JR Joban Line and the Tobu Noda Line. Kashiwa Takashimaya Station Mall, directly connected to the station, houses an OK supermarket (8:30-21:30) and a Seijo Ishii, so daily shopping fits into the commute. Ueno is about 30 minutes away on the Joban Line rapid service.

The building is steel-frame, three storeys, with six units (3DK each) and 250.69 sqm of usable floor area, built in September 1983. The ground floor is a shuttered shop occupied by a massage clinic, making this a shop-and-residence building. The land is 165 sqm (registry) held in freehold, with 10.2 m of frontage onto a 6 m public road to the south. Photographs show the frontage road and the site at much the same level, with no retaining wall, slope or stepped access from the road.

The inheritance-tax roadside land value is 220,000 yen/sqm. At 42 years old the steel-frame building is past its statutory useful life, so the building assesses at zero and the land alone gives 36.30 million yen, or 90.8% of the 40 million yen asking price. The roadside value has risen three years running from 190,000 yen in 2024 (up 15.8% in total).

Ten minutes' walk from Kashiwa Station, with land value at 90% of the price. Please review the research notes below.