Dongmyo Market Entrance Small Building, 2.45 Billion Won Transaction Analysis: Commercial Area with High Foot Traffic, What is the Profit Maximization Strategy?
A 2-story small building located at Sungin-dong 267, Jongno-gu, at the entrance of Dongmyo Market, was transacted for 2.45 billion Won, attracting the attention of investors. This building, located in a specialized commercial area with high foot traffic, can expect high monthly rental income, but it is characterized by restrictions on new building construction. Let's delve into the investment analysis and utilization strategy for successful rental income generation.
Dongmyo Market Entrance 2-Story Small Building, 2.45 Billion Won Transaction Information
In March 2025, the building at Sungin-dong 267, Jongno-gu, was sold for 2.45 billion Won. This building, consisting of 2 stories above ground, has a land area of 29.01 pyeong and a building area of 52.34 pyeong. Although it is an old building completed in 1965, it is located in a General Commercial Zone, where high rental income can be expected.
- Location: Jongno-gu Sungin-dong 267
- Sale Price: 2.45 billion Won
- Land Area: 29.01 pyeong
- Building Area: 52.34 pyeong
- Year of Completion: 1965.04.10
- Zoning District: General Commercial Zone
Dongmyo Market Commercial Area Characteristics and Investment Analysis
This building, located at the entrance of Dongmyo Market, is situated in a specialized commercial area where vintage clothing stores are concentrated, resulting in extremely high foot traffic. This characteristic can create rental demand for various business types such as coffee shops and restaurants, and can lead to high monthly rental income.
However, despite being a General Commercial Zone, there are several restrictions on new building construction, making new construction difficult. Therefore, a strategy of remodeling the building or renovating the interior is necessary to maximize rental income.
- High Foot Traffic: Rental demand for various business types such as coffee shops, restaurants, etc.
- Expectation of High Monthly Rental Income: Possibility of generating stable rental income
- New Construction Restrictions: Need for building remodeling or interior renovation strategy
Utilization Strategy for Profit Maximization
Considering the characteristics of the Dongmyo Market commercial area and the building, the following utilization strategies can be established:
- Attracting Unique Businesses: Attracting unique coffee shops, restaurants, etc., that match the character of the Dongmyo Market commercial area
- Building Remodeling: Strengthening competitiveness through exterior and interior remodeling of the building
- Realistic Rent Pricing: Setting realistic rent prices considering surrounding market rates
- Strengthening Online Promotion: Strengthening online promotion targeting Dongmyo Market visitors
Conclusion
The small building at the entrance of Dongmyo Market is an attractive investment property that can expect high rental income based on high foot traffic. However, there are matters to consider during investment, such as restrictions on new building construction. Therefore, successful investment must be led through thorough analysis and strategy development.
The building at Sungin-dong 267, Jongno-gu, was sold in March 2025.
※ Transaction Details
- Location: Jongno-gu Sungin-dong 267
- Subway Station: Dongmyoap Station
- Transaction Date: March 2025
- Sale Price: 2.45 billion Won
- Land Price (Per Pyeong): 84.45 million Won
- Land Area: 29.01 pyeong (95.9㎡)
- Building Area (Total Floor Area): 52.34 pyeong (173.04㎡)
- Zoning District: General Commercial Zone
- Floors: 2 stories above ground
- Road Condition: 12m road
- Year of Completion: 1965.04.10
- Official Standard Land Price (공시지가): Approx. 38.45 million Won (Per Pyeong)
- Land Price Relative to Official Standard Price: Approx. 2.20 times