Nagoya, Aichi — Office Cap Rates & Price per Sqm
21 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
21
Median deal cap rate (last 12 months)
3.70%
Deal cap rate range (last 3 years)
3.10–4.60%
Avg. price (all time)
¥5.71bn
Properties appraised
32
Median appraisal cap rate
4.00%
Appraisal cap rate range
3.4–4.6%
Period ends
2026/02–2026/06
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
5 Office transactions in Nagoya, Aichi were disclosed in the last 12 months, with a median cap rate of 3.70%.
Transaction cap rate trend (each deal + quarterly median)
Last 5 years. Grey dots are individual deals; the red line is the quarterly median. The segment into the quarter in progress (deals so far) is dashed. Use the number of dots to spot quarters with few deals. Calculated from cap rates disclosed in acquisition/disposition notices (appraisal NOI yield at the time of each deal). These differ from periodic appraisals (current valuations), shown separately below. See the table below for individual sources.
Breakdown by ward
| Ward | Transactions | Cap rate |
|---|---|---|
| Naka, Nagoya | 15 | 4.05% |
| Nakamura, Nagoya | 5 | 3.70% |
All transactions (23)(2 scheduled, excluded from statistics)
| Ward | Source | |||||
|---|---|---|---|---|---|---|
| 2027.03Scheduled | Nagoya Fushimi Square Building | Naka | ¥4.09bn | 4.30% | 1987 · 39 yrs | REIT-IR ↗ |
| 2027.02Scheduled | Nagoya Fushimi Square Building | Naka | ¥2.32bn | 4.30% | 1987 · 39 yrs | REIT-IR ↗ |
| 2026.07 | Nagoya Fushimi Square Building | Naka | ¥1.60bn | 4.30% | 1987 · 39 yrs | REIT-IR ↗ |
| 2026.03 | Kamimaezu KD Building | Naka | ¥3.32bn | 4.40% | 1988 · 38 yrs | REIT-IR ↗ |
| 2026.03 | Enishio Nagoya (10% undivided interest) | Nakamura | ¥3.41bn | 3.10% | — | REIT-IR ↗ |
| 2026.03 | Nagoya Heiwa Building | Naka | ¥5.11bn | 3.50% | 2004 · 22 yrs | REIT-IR ↗ |
| 2026.02 | Aqua Town NAYABASHI | Nakamura | ¥6.00bn | 3.70% | 2006 · 19 yrs | REIT-IR ↗ |
| 2025.03 | MI Terrace Nagoya Aoi | Naka | ¥4.53bn | 3.80% | 1991 · 35 yrs | REIT-IR ↗ |
| 2024.12 | JMF Building Nagoya Sakae 01 | Naka | ¥9.69bn | 3.70% | 2008 · 18 yrs | REIT-IR ↗ |
| 2024.10 | JPR Nagoya Fushimi Building | Naka | ¥4.05bn | 4.60% | 1991 · 35 yrs | REIT-IR ↗ |
Periodic appraisals (current valuations)
Each property’s latest period-end appraisal. Aligned in time, so current levels can be compared
Periodic appraisals (period-end valuations)
Nagoya · Office: 32 properties · period ends 2026/02–2026/06 · median 4.00% (3.4%–4.6%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| NHK名古屋放送センタービルJapan Excellent, Inc. | 3.9% | ±0 | 2026/06 | Filing ↗ |
| NORE伏見Nippon REIT Investment Corporation | 3.9% | +10 | 2026/06 | Filing ↗ |
| NORE名駅Nippon REIT Investment Corporation | 3.9% | ±0 | 2026/06 | Filing ↗ |
| The SquareNippon REIT Investment Corporation | 4.4% | ±0 | 2026/06 | Filing ↗ |
| ダイアビル名駅Nippon REIT Investment Corporation | 4.4% | ±0 | 2026/06 | Filing ↗ |
| Ikashita ES BuildingMarimo Regional Revitalization REIT Investment Corporation | 4.6% | ±0 | 2026/06 | Filing ↗ |
| Nagoya Heiwa BuildingHeiwa Real Estate REIT, Inc. | 3.5% | – | 2026/05 | Filing ↗ |
| Sakae Center BuildingHeiwa Real Estate REIT, Inc. | 3.9% | ±0 | 2026/05 | Filing ↗ |
| HF名古屋錦ビルディングHeiwa Real Estate REIT, Inc. | 4.0% | ±0 | 2026/05 | Filing ↗ |
| 栄ミナミ平和ビルHeiwa Real Estate REIT, Inc. | 4.5% | ±0 | 2026/05 | Filing ↗ |
Direct capitalization rates from each property’s latest period-end appraisal, for properties of the same use in the same city/ward (period ends within the last year; from J-REIT annual securities reports and results materials). These differ from acquisition cap rates (chart and deal list above) and compare current valuations regardless of deal timing. Values for the same property can differ by appraiser or ownership share. Reference information only, not a recommendation.
See appraisals in Nagoya · Office as a list →
FAQ
What is the average Office cap rate in Nagoya, Aichi?
The median cap rate across 5 J-REIT disclosed transactions in the last 12 months is 3.70% (as of November 1, 2026, appraisal NOI yield basis).
What is the data source?
Timely-disclosure PDFs published on each J-REIT official IR page. Every record links to its source.