Sapporo, Hokkaido — Office Cap Rates & Price per Sqm
13 transactions from J-REIT timely disclosures｜Last updated: September 21, 2026 (refreshed weekly)
Transactions
13
Median CR (last 12 months)
3.60%
CR range (last 3 years)
3.6–4.3%
Avg. price (all time)
69.7×¥100M
5 Office transactions in Sapporo, Hokkaido were disclosed in the last 12 months, with a median cap rate of 3.60%. That is 30bps lower than a year earlier.
Cap rate trend (monthly median)
Calculated from disclosed cap rates (appraisal NOI yield). See the table below for individual sources.
Breakdown by ward
| Ward | Transactions | Cap rate |
|---|---|---|
| 札幌市中央区 | 9 | 3.90% |
| 札幌市北区 | 4 | 3.60% |
All transactions (14)(1 scheduled, excluded from statistics)
| Date | Property | Ward | Price | Cap rate | Age | Source |
|---|---|---|---|---|---|---|
| 2027/01Scheduled | Sapporo Otemachi Building | 中央区 | 48.0×¥100M | 3.80% | — | REIT-IR ↗ |
| 2026/07 | NBF Sapporo Minami 2-jo Building | 中央区 | 19.0×¥100M | 4.30% | 36 | REIT-IR ↗ |
| 2026/06 | HF Kita-Jujo Building | 北区 | 17.6×¥100M | 3.60% | — | REIT-IR ↗ |
| 2026/03 | サッポロアーチビル (持分割合:100%) | 中央区 | 81.8×¥100M | — | — | REIT-IR ↗ |
| 2025/11 | CONNECT SAPPORO | 中央区 | 138.0×¥100M | 3.60% | 1 | REIT-IR ↗ |
| 2025/10 | The Link Sapporo(持分割合:100%) | 北区 | 213.4×¥100M | — | 2 | REIT-IR ↗ |
| 2025/08 | NW SQUARE | 北区 | 17.0×¥100M | 3.70% | 3 | REIT-IR ↗ |
| 2025/06 | Park East Sapporo | 中央区 | 14.4×¥100M | 3.90% | — | REIT-IR ↗ |
| 2025/03 | Park East Sapporo | 中央区 | 27.0×¥100M | 3.90% | 40 | REIT-IR ↗ |
| 2024/06 | Kita 2-jo Building | 中央区 | 15.4×¥100M | 3.90% | — | REIT-IR ↗ |
| 2023/08 | 札幌 22 スクエア | 中央区 | 105.0×¥100M | — | 1 | REIT-IR ↗ |
| 2022/12 | THE PEAK SAPPORO | 北区 | 170.0×¥100M | 3.60% | 1 | REIT-IR ↗ |
| 2022/03 | ザイマックス札幌大通ビル | 中央区 | 47.1×¥100M | 4.00% | 2 | REIT-IR ↗ |
| 2021/12 | Sapporo Otemachi Building | 中央区 | 40.7×¥100M | 4.40% | 37 | REIT-IR ↗ |
FAQ
What is the average Office cap rate in Sapporo, Hokkaido?
The median cap rate across 5 J-REIT disclosed transactions in the last 12 months is 3.60% (as of September 21, 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.