[Assessed 83%] Apartment building in Kashiwa, Chiba — 19 min from Toyoshiki Sta.

Two apartment buildings sold together in Toyoshiki, Kashiwa, Chiba, a 19-minute walk from Toyoshiki Station on the Tobu Urban Park Line (Noda Line) and a 24-minute walk from Minami-Kashiwa Station on the JR Joban Line (local). The area is a Category 1 low-rise residential zone (60% building coverage, 150% floor area ratio), and another listing gives the lot number as Toyoshiki 329-4. The site has 10.0 m of frontage on a 5.5 m public road to the north (northwest in another listing); the road is a dead end and the site sits at its end. ⚠️ The listing states that the site is within a registered buried cultural property area (Sasahara site), so notification or an investigation may be required for rebuilding or ground works.

The sale covers Stork Town Buildings A and B: two two-story lightweight-steel buildings with slate roofs, built by Daiwa House (602.34 ㎡ each, 1,204.68 ㎡ in total). There are 24 units, twelve 3DK units (about 50 ㎡) in each building, all currently leased and sold with tenants in place (existing leases carry over). The asking price is ¥240 million; projected annual rent is ¥19.1351 million, a gross yield of 7.97%. There are 30 parking spaces plus motorcycle and bicycle parking; the land is freehold with no private-road burden. Listings disagree on the completion date (December 1994 vs. March 1994), so we used the older, March 1994 (32 years old).

Only the land is counted in the assessment. The buildings exceed the 22-year statutory useful life for lightweight steel, so their assessed value is zero. Oaza Toyoshiki is a large oaza without chome that spans 23 road price map sheets, so we counted the neighborhood-road bands on sheets 14108 and 14117 near the property and used the most common value, ¥105,000/㎡ (2026, leasehold ratio D). The ¥55,000–67,000/㎡ bands at the western edge by the Nagareyama border (sheet 14107), more than 1 km from the property, were excluded as a separate market, along with the arterial roads toward Kashiwa Station and the north-south prefectural roads. The dead-end road the site faces has no road price of its own. At ¥100,000/㎡ the assessed ratio would be 79.0%, and at ¥110,000/㎡ it would be 86.9%, so the result is sensitive to the band chosen. The road price moved 93,000 → 98,000 → 105,000 yen/㎡ over three years, up 12.9% in two years.

The land area is the registered 1,896.99 ㎡. Another listing shows 1,933.99 ㎡; the 37 ㎡ difference is a detached parcel (lot 329-37, three parking spaces) noted in the remarks, which we did not include (including it would give 84.6%). The oldest listing we found for this property was registered on July 13, 2026. Distances to nearby places are straight-line distances from the site position confirmed on GSI aerial photos to shops recorded in OpenStreetMap.