Geobook-Gil 290, South Korea, Ocean View Development Property For Sale 143,000 SF

Geobook-Gil 290, South Korea, Ocean View Development Property For Sale 143,000 SF

Geobook-Gil 290, South Korea, Ocean View Development Property For Sale 143,000 SF

Address: Geobook-Gil 290, Seopo-Myeon, Sacheon-si, Gyeongsangnam-do
Asking Price: $20,000,000 USD
Property Type: Ocean View Development Land/Property
Zoning: To be confirmed with local authorities
Key Features: Panoramic ocean views, South Coast location, development potential

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Property Overview

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RI Manhattan Realty, Inc. is proud to offer a unique investment prospect: a premier oceanfront property in the rapidly emerging South Coast area of Gyeongsangnam-do, South Korea. This rare opportunity stands out as one of the most prominent coastal estates in the region, combining stunning sea vistas, prime location, and exceptional development potential.

This extraordinary property is situated on a private South Korean island, encompassing over 143,000 square feet of land with significant buildable rights. Nestled against a densely forested hillside, it provides privacy and breathtaking scenery from every perspective. The area is also an internationally recognized economic and culinary hub, famed for its premium oysters, with private boats navigating the nearby waters.

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Property Highlights

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• Panoramic Ocean Views: Unobstructed views of the South Sea with stunning sunsets
• Prime Location: Sacheon-si, a rapidly growing coastal city in Gyeongsangnam-do
• Development Potential: Ideal for resort, hotel, residential, or mixed-use development
• Strategic Connectivity: Proximity to Sacheon Airport and major highway networks
• Growing Tourism Market: South Coast tourism increasing 15-20% annually
• Exclusive Representation: Six-month exclusive listing with RI Manhattan Realty

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Site

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• Zoning: Tourism & Hospitality (Possibility of residential)
• Manufactured individual villa
• Frontage: wetland & Ocean
• Use: Transient hotel
• Utilities: Water, heat, gas, electricity, sewage, waste removal, water purification system
• Environmental: Excellent
• Easement: None
• Parking/Access: Private parking
• Tax Class/Assessed Value/Bill: Below 0.5% RET
• Violations: None

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Resort feature

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• Individual single glamping unit
• Air rights up to 4 floors
• 24 key being able to be expanded to 72-keys under 3-story full ocean front resort

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Surrounding

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• 30-minute drive to the airport (45-minute flight from Seoul, 60-minute flight from Jeju)
• Airforce base
• Ministry of Ocean & Fisheries conservation area
• UNESCO designated city
• National preserved sacred area
• 36-hole golf course
• Situated in a private island
• Busan (Major City): 90 minutes via highway
• Jinju City: 40 minutes
• Highway Access: Direct access to Namhae Expressway and Route 3

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Market Analysis

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Comparable Properties

Based on recent transactions in the South Coast region:

• Ocean view house:  Namhae/Tongyeong – ₩100-350 million
• Premium villa:  Geoje – ₩400-700 million
• Ocean view land: Geoje/Goseong – ₩300k-700k per pyeong
• Resort development: Geoje – ₩1+ billion

Note: At $20M USD (₩26-28 billion KRW), this property represents a premier-tier offering significantly above typical residential transactions, indicating substantial scale, amenities, or development potential.

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Investment Potential

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This property offers multiple development pathways:
1. Luxury Resort Development

• Boutique hotel or resort with 50-100 rooms
• Spa, wellness center, and restaurant facilities
• Target market: Premium domestic and international tourists

2. Residential Development

• Luxury ocean view villas or condominiums
• Second-home/vacation home market
• Growing demand from Seoul/Busan buyers

3. Mixed-Use Development

• Combination of hotel, residential, and commercial
• Marina, yacht club, or water sports facilities
• Restaurant, retail, and entertainment venues

4. Eco-Tourism/Glamping Resort

• Premium glamping facilities with ocean views
• Sustainable, eco-friendly design
• Growing trend in Korean domestic tourism

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Contact: Claire Nali Choi

Email:

Tel: +1 646-379-0191

Contact: Robert Isaacs

Mobile: (212) 581-3003

Email: