Yeoksam-dong 813-4, Land Price per Pyeong at ~83% of Recent Nearby Transactions… Targeting Both Office and Medical Demand
Cushman & Wakefield Korea Retail Value Add Team Leading Sale Advisory — GFA 1,854 Pyeong, Top-Ranked Site Area, GFA and Parking on Its Street
Cushman & Wakefield Korea, a leading global commercial real estate services firm, has officially launched the sale advisory for W Building, located at 813-4, Yeoksam-dong, Gangnam-gu, Seoul. Situated just off Gangnam-daero in Yeoksam-dong, W Building offers dual subway access — a six-minute walk from Gangnam Station (Line 2) and a two-minute walk from Sinnonhyeon Station (Line 9) — and is expected to generate strong interest from investors and corporate owner-occupiers given the extreme scarcity of mid-size building sale listings in the Gangnam core submarket.
- A Rare Listing in the Gangnam Mid-Size Building Market — Top-Ranked Physical Specifications on Its Street
W Building is a mixed-use mid-size office and commercial building with a gross floor area (GFA) of approximately 1,854 pyeong (6,131 sqm) and a site area of approximately 345 pyeong (1,140 sqm). Among second-class general residential zone assets on the same street, it ranks at the top in terms of site area, GFA, and parking capacity, offering differentiated competitiveness not only in terms of location but also physical scale. It is highly unusual for an asset of this size and specification to come to market in the Yeoksam-dong submarket just off Gangnam-daero, making this a noteworthy opportunity for corporate owner-occupiers, high-net-worth individuals, and asset managers considering a Gangnam building acquisition.
- ~83% of Recent Nearby Gangnam Transactions — A Competitively Priced Large Lot in the Gangnam Core
W Building's anticipated asking price is set at approximately 83% of the land price per pyeong recorded in recent comparable transactions in the Yeoksam-dong and Gangnam-daero submarket, offering a genuine price advantage for buyers considering a mid-size building acquisition in the Gangnam core. For companies and investors who have been evaluating a Gangnam building purchase, the favorable entry cost relative to underlying asset value is a condition worth noting.
Additionally, a minimum of 726 pyeong of dedicated space will be available for direct use within one year of acquisition, making this a practical option for companies considering a Gangnam headquarters relocation or owner-occupier purchase. Companies searching for a headquarters building near Gangnam Station or Sinnonhyeon Station are encouraged to review this opportunity promptly.
- Off-Gangnam-daero Submarket Seeing Surging Medical and Office Demand — Strong Value-Add Potential
The Yeoksam-dong submarket just off Gangnam-daero, where W Building is located, has seen simultaneous rapid growth in demand from medical clinics — including dermatology and plastic surgery practices — and premium office tenants over recent years. With supply remaining constrained while occupier demand continues to flow in, a range of value-add strategies are realistically achievable, including maximizing rental income through post-acquisition renovation or conversion to a high-end retail and medical mixed-use format.
Asset managers, REITs operators, high-net-worth individuals, and corporate owners considering mid-size building investment in the Gangnam submarket should take note of this sale opportunity. With inquiries into building acquisitions in Yeoksam-dong, Gangnam-gu on a steady upward trend, W Building is regarded as a rare asset that simultaneously satisfies all three criteria of location, physical specification, and price.
A representative from Cushman & Wakefield Korea's Retail Value Add team stated:
"It is a rare market opportunity for a mid-size building with dual subway access in the Gangnam core submarket and top-ranked physical specifications on its street to come to market at a price level that is reasonable relative to nearby comparable transactions. We will run a tailored marketing campaign targeting a broad range of demand — from corporate owner-occupiers to income-generating real estate investors."
