Chiyoda, Tokyo — Office Cap Rates & Price per Sqm
57 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
57
Median deal cap rate (last 12 months)
3.50%
Deal cap rate range (last 3 years)
2.30–4.00%
Avg. price (all time)
¥9.23bn
Properties appraised
88
Median appraisal cap rate
3.40%
Appraisal cap rate range
2.3–4.1%
Period ends
2025/09–2026/07
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
8 Office transactions in Chiyoda, Tokyo were disclosed in the last 12 months, with a median cap rate of 3.50%. That is 5bps lower than a year earlier.
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.
All transactions (58)(1 scheduled, excluded from statistics)
| Source | |||||
|---|---|---|---|---|---|
| 2027.01Scheduled | WORK VILLA MYJ kanda | ¥8.40bn | 3.50% | 2025 · 1 yrs | REIT-IR ↗ |
| 2026.10 | JA Building / Keidanren Kaikan | ¥32.80bn | 2.90% | 2009 · 17 yrs | REIT-IR ↗ |
| 2026.09 | Hulic Kojimachi Building | ¥13.30bn | — | — | REIT-IR ↗ |
| 2026.06 | Ichigo Kudan Building | ¥6.20bn | 3.60% | 1989 · 37 yrs | REIT-IR ↗ |
| 2026.06 | Ichigo Hanzomon Building | ¥4.21bn | 3.40% | 1991 · 35 yrs | REIT-IR ↗ |
| 2026.05 | Daiwa Sarugakucho Building | ¥2.55bn | 3.80% | 1985 · 41 yrs | REIT-IR ↗ |
| 2026.03 | Kudankita 325 Building | ¥2.74bn | 3.40% | 1987 · 39 yrs | REIT-IR ↗ |
| 2026.01 | Kandabashi Park Building (Additional Acquisition) (Ownership 28.68%) | ¥2.15bn | — | 1993 · 33 yrs | REIT-IR ↗ |
| 2025.11 | Daiwa Sarugakucho Building | ¥2.55bn | 3.80% | 1985 · 41 yrs | REIT-IR ↗ |
| 2025.09 | BIZCORE Jinbocho | ¥0.66bn | 3.30% | 2017 · 8 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)
Chiyoda · Office: 88 properties · period ends 2025/09–2026/07 · median 3.40% (2.3%–4.1%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| 麹町スクエアTokyu REIT, Inc. | 3.0% | ±0 | 2026/07 | Filing ↗ |
| 東急番町ビルTokyu REIT, Inc. | 3.1% | ±0 | 2026/07 | Filing ↗ |
| 秋葉原三和東洋ビルTokyu REIT, Inc. | 3.2% | -10 | 2026/07 | Filing ↗ |
| アーバンセンター神田須田町Star Asia Real Estate Investment Corporation | 3.4% | ±0 | 2026/07 | Filing ↗ |
| 飛栄九段ビルStar Asia Real Estate Investment Corporation | 3.4% | ±0 | 2026/07 | Filing ↗ |
| アーバンセンター神田司町Star Asia Real Estate Investment Corporation | 3.5% | ±0 | 2026/07 | Filing ↗ |
| ポータル秋葉原Star Asia Real Estate Investment Corporation | 3.6% | ±0 | 2026/07 | Filing ↗ |
| 大手町フィナンシャルシティノースタワーJapan Prime Realty Investment Corporation | 2.3% | – | 2026/06 | Filing ↗ |
| Ochanomizu Sora CityJapan Prime Realty Investment Corporation | 2.9% | – | 2026/06 | Filing ↗ |
| JPR麹町ビルJapan Prime Realty Investment Corporation | 3.0% | – | 2026/06 | 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 Chiyoda · Office as a list →
FAQ
What is the average Office cap rate in Chiyoda, Tokyo?
The median cap rate across 8 J-REIT disclosed transactions in the last 12 months is 3.50% (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.