Kobe, Hyogo — Land Cap Rates & Price per Sqm
7 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
7
Median deal cap rate (all time)
3.90%
Deal cap rate range (all time)
3.80–4.00%
Avg. price (all time)
¥1.36bn
Properties appraised
2
Median appraisal cap rate
—
Appraisal cap rate range
—
Period ends
—
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
1 transactions were disclosed in the last 12 months. The all-time median cap rate across 2 deals is 3.90%.
Breakdown by ward
| Ward | Transactions | Cap rate |
|---|---|---|
| Nishi, Kobe | 3 | 3.80% |
| Higashinada, Kobe | 2 | 4.00% |
| Tarumi, Kobe | 1 | — |
All transactions (7)
| Ward | Source | |||||
|---|---|---|---|---|---|---|
| 2026.10 | IIF Kobe Nishi Logistics Center (Land) | Nishi | ¥2.68bn | — | — | REIT-IR ↗ |
| 2025.07 | MJ Industrial Park Kobe Nishi (Land) | Nishi | ¥1.09bn | 3.80% | — | REIT-IR ↗ |
| 2023.12 | Higashi Kobe Center Building (Land Lease Portion) | Higashinada | ¥0.16bn | — | — | REIT-IR ↗ |
| 2021.08 | ENEOS Ikawadani SS-ten (Sokuchi) | Nishi | ¥0.53bn | — | 2019 · 6 yrs | REIT-IR ↗ |
| 2021.03 | MJ Industrial Park Kobe (Sochi) | Higashinada | ¥4.97bn | 4.00% | — | REIT-IR ↗ |
| 2020.06 | Kaden Sumairukan YAMADA Kobe Tarumi Branch (Land) (Part of the Land) | Tarumi | ¥0.05bn | — | — | REIT-IR ↗ |
| 2020.06 | Kaden Sumairukan YAMADA Kobe Tarumi Branch (Land) (Part of the Land) | — | ¥0.05bn | — | — | REIT-IR ↗ |
Periodic appraisals (current valuations)
Each property’s latest period-end appraisal. Aligned in time, so current levels can be compared
Kobe · Land: 2 properties have a periodic appraisal with a period end in the last year (fewer than 5, so no median is shown).
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| MJインダストリアルパーク神戸西 (底地)Mitsubishi Estate Logistics REIT Investment Corporation | 3.8% | ±0 | 2026/02 | Filing ↗ |
| MJインダストリアルパーク神戸 (底地)Mitsubishi Estate Logistics REIT Investment Corporation | 4.0% | ±0 | 2026/02 | 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 Kobe · Land as a list →
FAQ
What is the average Land cap rate in Kobe, Hyogo?
The median cap rate across 2 J-REIT disclosed transactions (all time) is 3.90% (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.