Koto, Tokyo — Office Cap Rates & Price per Sqm
15 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
15
Median deal cap rate (all time)
3.80%
Deal cap rate range (last 3 years)
3.30–4.40%
Avg. price (all time)
¥13.34bn
Properties appraised
11
Median appraisal cap rate
3.90%
Appraisal cap rate range
3.4–4.5%
Period ends
2026/02–2026/06
Cap rates at transaction
From acquisition/disposition notices, as of each deal (dates vary by deal)
2 transactions were disclosed in the last 12 months. The all-time median cap rate across 11 deals is 3.80%.
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 (15)
| Source | |||||
|---|---|---|---|---|---|
| 2026.09 | Toyosu Prime Square | ¥29.40bn | — | 2010 · 16 yrs | REIT-IR ↗ |
| 2026.03 | Toyosu Bayside Cross Tower (Additional Acquisition) | ¥14.81bn | 3.30% | — | REIT-IR ↗ |
| 2024.10 | KDX Monzen-Nakacho Building | ¥1.60bn | 4.40% | 1986 · 40 yrs | REIT-IR ↗ |
| 2024.06 | Kameido Fuji Building | ¥3.00bn | 3.80% | 1979 · 47 yrs | REIT-IR ↗ |
| 2024.03 | Toyosu Bayside Cross Tower (Additional Acquisition) | ¥43.80bn | 3.30% | 2020 · 6 yrs | REIT-IR ↗ |
| 2024.02 | Toyosu Foresia (Additional Acquisition) (Ownership 22%) | ¥19.76bn | — | 2014 · 12 yrs | REIT-IR ↗ |
| 2023.03 | Toyosu Bayside Cross Tower (Additional Acquisition) | ¥21.60bn | 3.30% | 2020 · 6 yrs | REIT-IR ↗ |
| 2023.02 | Toyosu Foresia (Ownership 9%) | ¥8.10bn | — | 2014 · 12 yrs | REIT-IR ↗ |
| 2022.11 | Toyosu Bayside Cross Tower | ¥14.70bn | 3.30% | 2020 · 6 yrs | REIT-IR ↗ |
| 2022.07 | KDX Kiba Building | ¥1.65bn | 4.50% | 1992 · 34 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)
Koto · Office: 11 properties · period ends 2026/02–2026/06 · median 3.90% (3.4%–4.5%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| FORECAST亀戸Nippon REIT Investment Corporation | 3.9% | ±0 | 2026/06 | Filing ↗ |
| UUR東陽町ビルUnited Urban Investment Corporation | 3.8% | ±0 | 2026/05 | Filing ↗ |
| HF門前仲町ビルディングHeiwa Real Estate REIT, Inc. | 4.0% | ±0 | 2026/05 | Filing ↗ |
| KDX豊洲グランスクエアKDX Realty Investment Corporation | 4.2% | ±0 | 2026/04 | Filing ↗ |
| いちご永代ビルIchigo Office REIT Investment Corporation | 4.5% | ±0 | 2026/04 | Filing ↗ |
| Toyosu Prime SquareGlobal One Real Estate Investment Corporation | 3.4% | ±0 | 2026/03 | Filing ↗ |
| 豊洲フロントJapan Real Estate Investment Corporation | 3.6% | ±0 | 2026/03 | Filing ↗ |
| 東陽パークビルSankei Real Estate Investment Corporation | 3.6% | ±0 | 2026/02 | Filing ↗ |
| Kameido Fuji BuildingHulic Reit, Inc. | 3.8% | – | 2026/02 | Filing ↗ |
| 東京パークサイドビルOne REIT Investment Corporation | 4.1% | ±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 Koto · Office as a list →
FAQ
What is the average Office cap rate in Koto, Tokyo?
The median cap rate across 11 J-REIT disclosed transactions (all time) is 3.80% (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.