₩7.95 Billion Building Transaction on Gangnam Yeoksam-dong Main Road! Near Baengbaeng Intersection, Optimal Opportunity for New Office Building Construction
A building located on the 7-lane Dogok-ro main road near Baengbaeng Intersection in Yeoksam-dong, a key business area in Gangnam, Seoul, has been traded for ₩7.95 billion, attracting significant attention in the real estate investment market. This building, adjacent to Gangnam Station and boasting excellent visibility on the main road, is highly valued for its potential as a site for new office building construction. In particular, it is drawing more attention as it was once listed for ₩10 billion but was sold after a significant price adjustment.
In this article, we will analyze the detailed transaction history of the building on the main road in Yeoksam-dong, Gangnam-gu, and delve deeply into its locational advantages near Gangnam Station, its potential as a site for new office building construction, and surrounding development prospects. By analyzing the background of the transaction, which was concluded through price negotiation, and the investment value of this building from various angles, we aim to provide useful insights for those interested in commercial real estate investment in the Gangnam area.
₩7.95 Billion Roadside Building in Yeoksam-dong, Gangnam-gu, Detailed Transaction Analysis
The building that was recently sold is located at 799-9 Yeoksam-dong, Gangnam-gu, and is situated on the 7-lane Dogok-ro main road. It is located relatively close to Gangnam Station subway. It was traded for ₩7.95 billion in March 2025, and the land price was assessed at approximately ₩109.37 million per pyeong.
- Location: 799-9 Yeoksam-dong, Gangnam-gu
- Subway Station: Gangnam Station
- Transaction Date: March 2025
- Sale Price: ₩7.95 billion
- Land Price (per pyeong): ₩109.37 million
- Land Area: 72.69 pyeong (240.3㎡)
- Building Area: 575.70 pyeong (174.15㎡)
- Zoning: Type 3 General Residential Zone
- Floors: Basement 1st Floor ~ Ground 4th Floor
- Road Condition: 7-lane road
- Completion Year: October 17, 1989
- Publicly Assessed Value: Approx. ₩52.66 million
- Publicly Assessed Value Ratio to Land Price: Approx. 2.08 times
Dogok-ro Baengbaeng Intersection Main Road, Near Gangnam Station 'Best Location'
The biggest appeal of this building is its location on Dogok-ro, a key main road in Gangnam. Dogok-ro is a major arterial road that runs north-south through Gangnam, and the area around Baengbaeng Intersection is concentrated with financial, office, and various commercial facilities. Thanks to its proximity to Gangnam Station subway, vehicle accessibility is also excellent. This makes it an optimal location for corporate office buildings.
Room for Floor Area Ratio, Expect Enhanced Corporate Image and Increased Business Efficiency Through New Construction
This building is located in a Type 3 General Residential Zone, which allows for a legal floor area ratio of up to 300%. The current building has 1 basement floor and 4 ground floors, leaving room for floor area ratio, which means it has the potential to be developed into a taller building through new construction in the future. Constructing a modern and sophisticated office building would significantly enhance the corporate image and help increase business efficiency by securing spacious and efficient office spaces.
Surrounding Development Prospects: Dogok Woosung Reconstruction, Dogok Samik Reconstruction, etc. Expect Future Value Increase
Large-scale reconstruction projects such as Dogok Woosung Reconstruction and Dogok Samik Reconstruction are underway or planned around the building, raising expectations for improved residential environment and increased real estate value in the area in the future. Once the reconstruction projects are completed, the infrastructure in the surrounding area will be expanded and the residential environment will be improved, which is expected to have a positive impact on this building as well.
Transaction from ₩10 Billion Asking Price to ₩7.95 Billion, Suggests 'Distress Sale' Potential
This building was initially listed for sale at an asking price of ₩10 billion, but the transaction was finally concluded at ₩7.95 billion. This could be due to the seller needing to dispose of funds urgently, or other factors such as the building's age. This transaction can be evaluated as a successful investment case, as it was purchased at a lower price than the market rate, and high profits can be expected through new construction in the future.
Conclusion: Building on Gangnam Yeoksam-dong Main Road, An Attractive Investment Property with Optimal Location for New Office Building Construction & Development Prospects
This ₩7.95 billion building located on the Dogok-ro main road in Yeoksam-dong, Gangnam, is a very attractive investment property with excellent location conditions, potential for new construction, and surrounding development prospects. In particular, it can be an optimal choice for companies considering securing an office building, and high investment returns can be expected by maximizing the building's value through new construction. If you are considering commercial real estate investment in a key area of Gangnam, paying attention to this building on Dogok-ro main road could be a wise choice.
The building at 799-9 Yeoksam-dong, Gangnam-gu, was sold in March 2025.
※ Transaction Details
- Location: 799-9 Yeoksam-dong, Gangnam-gu
- Subway Station: Gangnam Station
- Transaction Date: March 2025
- Sale Price: ₩7.95 billion
- Land Price (per pyeong): ₩109.37 million
- Land Area: 72.69 pyeong (240.3㎡)
- Building Area: 575.70 pyeong (174.15㎡)
- Zoning: Type 3 General Residential Zone
- Floors: Basement 1st Floor ~ Ground 4th Floor
- Road Condition: 7-lane road
- Completion Year: October 17, 1989
- Publicly Assessed Value: Approx. ₩52.66 million
- Publicly Assessed Value Ratio to Land Price: Approx. 2.08 times
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