[Foreclosed] Land in Minamiaoyama 2 Chome

Court Evaluated Price: 150,000 JPY (1830 USD)
*UPDATE: The winning bid was 555,556 JPY (6775 USD). A total of 15 bids were made on the land.*

The cheapest (and smallest) land you will ever find in Omotesando. The land is in a laneway just behind Aoyama Dori Avenue and is 200 meters from Gaienmae Station and 660 meters from Omotesando Station.

With commercial land fronting Aoyama Dori valued at anywhere between 5~9 million JPY/sqm and residential land in Minami Aoyama ranging anywhere between 1.2 ~ 1.5 million JPY/sqm, this piece of land at only 78,500 JPY/sqm seems like a great deal, but…

at only 1.91sqm and zoned as a roadway for public use, the land does not present a lot of immediate opportunities.

Auction Details:
– Listing Date: 2011/02/09
– Bidding: 2011/02/24~2011/03/03
– Opening of bids: 2011/03/10
– Sale decision date: 2011/03/15

– Court Evaluation: 150,000 JPY
– Minimum Bid: 120,000 JPY
– Deposit to bid: 30,000 JPY

Land Details:
– Location: Nearby to 2-22-17, Minamiaoyama, Minato-ku, Tokyo
– Size: 1.91 sqm
– Land Ownership: Freehold
– Zoning: Road for public use

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