Special Post Office HQ_Property for Sale

130 Mapo-daero, Mapo-gu, Seoul, Seoul, 04212, KR

Special Post Office HQ

Asset description

Special Post Office building is the only tradable office building in the Mapo-Gongdeok area as of 2025, with a total floor area of 22,647m² (6,850 py) and a scale of 18F/B6. It possesses robust value-add potential, making it a unique investment opportunity in the market.

The office boasts exceptional visibility, with approximately 51 meters of frontage along Mapo-daero, a 40m wide main thoroughfare. This prominent exposure extends beyond mere signage advertising potential, offering tenants the opportunity to establish a corporate landmark and generate continuous brand promotion effects.

Also, This property features an eccentric core floor plan in a horizontal rectangular shape, with a standard floor's net leasable area of approximately 168 py. This allows for flexible layout configurations that can accommodate various tenant requirements.

Within the next two years, lease agreements covering 70% of the total leasable area are set to expire. Additionally, for the 18th floor, both landlord and tenant have the option for early termination, allowing potential buyers to either lease or occupy the space as they see fit.

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Attributes

Zoning

Semi-residential area

Building area net

243,770 sf

Year built

1994

Land area gross

20,827 sf

Floors

Ceiling height

8.2 ft

Parking spaces

WAULT to expiries

1.4 years

Media

Investment highlights

Special Post Office is located in the Mapo-Gongdeok area, which connects the CBD and Yeouido, offering excellent accessibility to major business districts. With its excellent location, the Mapo-Gongdeok area boasts high growth potential and the capacity to attract potential tenants and corporate end-users migrating from major business districts.

This asset, located in a quadruple transit hub area is the only tradable property in the Mapo-Gongdeok area. With office transactions in the Mapo-Gongdeok area being extremely rare since 2017, this asset presents a highly scarce and valuable opportunity for investors. Boasting an excellent location and scarcity, this asset stands as a unique investment target with potential for long-term value appreciation.

As of the end of March 2025, this asset has a short Weighted Average Lease Expiry (WALE*) of approximately 1.43 years. Based on this favorable leasing structure, which allows for swift implementation of value-add initiatives post-acquisition, it is projected that profitability can be maximized within a short timeframe.