Yokohama, Kanagawa — Office Cap Rates & Price per Sqm
11 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
11
Median deal cap rate (last 12 months)
3.90%
Deal cap rate range (last 3 years)
3.40–4.50%
Avg. price (all time)
¥9.59bn
Properties appraised
37
Median appraisal cap rate
4.10%
Appraisal cap rate range
3.3–4.7%
Period ends
2026/02–2026/07
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
3 Office transactions in Yokohama, Kanagawa were disclosed in the last 12 months, with a median cap rate of 3.90%.
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 |
|---|---|---|
| Kohoku, Yokohama | 4 | 3.75% |
| Nishi, Yokohama | 3 | 3.50% |
| Naka, Yokohama | 2 | 4.05% |
| Kanagawa, Yokohama | 1 | 3.60% |
| Isogo, Yokohama | 1 | 5.00% |
All transactions (11)
| Ward | Source | |||||
|---|---|---|---|---|---|---|
| 2026.10 | JMF Building Shin-Yokohama 01 | Kohoku | ¥9.20bn | 3.90% | 2009 · 17 yrs | REIT-IR ↗ |
| 2026.10 | TCS-HD Yokohama Building | Kanagawa | ¥6.08bn | 3.60% | 2023 · 3 yrs | REIT-IR ↗ |
| 2025.12 | JPR Yokohama Nihonoodori Building | Naka | ¥4.43bn | 4.50% | — | REIT-IR ↗ |
| 2025.10 | Prime Shinyokohama Building | Kohoku | ¥9.25bn | — | 1995 · 31 yrs | REIT-IR ↗ |
| 2025.03 | Yokohama Mitsui Building | Nishi | ¥43.19bn | 3.50% | 2012 · 14 yrs | REIT-IR ↗ |
| 2025.02 | MI Terrace Yokohama Nishiguchi | Nishi | ¥2.36bn | 3.40% | 1990 · 36 yrs | REIT-IR ↗ |
| 2023.12 | Shin-Yokohama Square Building | Kohoku | ¥20.30bn | — | 1995 · 31 yrs | REIT-IR ↗ |
| 2023.10 | TWYSIA Yokohama Isogo (Commercial Area) | Isogo | ¥1.60bn | 5.00% | 2009 · 17 yrs | REIT-IR ↗ |
| 2023.08 | Prime Tower Yokohama | Naka | ¥3.80bn | 3.60% | 1986 · 40 yrs | REIT-IR ↗ |
| 2023.03 | Shin-Yokohama Arena Dori Building | Kohoku | ¥2.08bn | 3.60% | 2001 · 25 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)
Yokohama · Office: 37 properties · period ends 2026/02–2026/07 · median 4.10% (3.3%–4.7%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| アーバンセンター横浜ウエストStar Asia Real Estate Investment Corporation | 3.3% | ±0 | 2026/07 | Filing ↗ |
| アーバンセンター新横浜Star Asia Real Estate Investment Corporation | 4.2% | ±0 | 2026/07 | Filing ↗ |
| 日石横浜ビルJapan Excellent, Inc. | 3.4% | ±0 | 2026/06 | Filing ↗ |
| Shin-Yokohama Arena Dori BuildingJapan Excellent, Inc. | 3.5% | ±0 | 2026/06 | Filing ↗ |
| JPR横浜ビルJapan Prime Realty Investment Corporation | 3.7% | – | 2026/06 | Filing ↗ |
| ゆめおおおかオフィスタワーJapan Prime Realty Investment Corporation | 3.7% | – | 2026/06 | Filing ↗ |
| 横浜弁天通第一生命ビルディングJapan Excellent, Inc. | 4.1% | ±0 | 2026/06 | Filing ↗ |
| 新横浜第二センタービルJapan Prime Realty Investment Corporation | 4.1% | – | 2026/06 | Filing ↗ |
| 日総第5ビルHeiwa Real Estate REIT, Inc. | 3.4% | +10 | 2026/05 | Filing ↗ |
| HF横浜山下ビルディングHeiwa Real Estate REIT, Inc. | 3.6% | ±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 Yokohama · Office as a list →
FAQ
What is the average Office cap rate in Yokohama, Kanagawa?
The median cap rate across 3 J-REIT disclosed transactions in the last 12 months 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.