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Minato, Tokyo — Office Cap Rates & Price per Sqm

74 transactions from J-REIT timely disclosures｜Last updated: September 21, 2026 (refreshed weekly)

Transactions

74

Median CR (last 12 months)

3.10%

CR range (last 3 years)

2.4–4.4%

Avg. price (all time)

101.8×¥100M

17 Office transactions in Minato, Tokyo were disclosed in the last 12 months, with a median cap rate of 3.10%. That is unchanged from a year earlier.

Cap rate trend (monthly median)

2.0%2.5%3.0%3.5%4.0%2024202520262023/11: 3.50%（1）2024/02: 2.50%（1）2024/03: 3.20%（1）2024/09: 3.60%（1）2024/10: 3.40%（1）2025/03: 3.50%（3）2025/04: 3.10%（3）2025/06: 3.00%（1）2025/07: 2.40%（1）2025/09: 3.00%（1）2025/10: 3.05%（2）2025/11: 3.20%（1）2025/12: 2.40%（1）2026/01: 3.20%（3）2026/02: 3.00%（1）2026/03: 3.40%（3）2026/04: 3.20%（2）2026/06: 3.50%（1）2026/07: 3.00%（1）3.00%3.60%2.40%

Calculated from disclosed cap rates (appraisal NOI yield). See the table below for individual sources.

All transactions (75)(1 scheduled, excluded from statistics)

DatePropertyPriceCap rateAgeSource
2026/09ScheduledOdaiba Garden City Building107.0×¥100M3.90%—REIT-IR ↗
2026/07BIZCORE Akasaka Mitsuke64.5×¥100M3.00%—REIT-IR ↗
2026/06Sumitomo Densetsu Building100.0×¥100M3.50%35REIT-IR ↗
2026/06ヒューリック神谷町ビル60.3×¥100M——REIT-IR ↗
2026/04ICON PLACE SHIBAKOEN92.0×¥100M3.30%36REIT-IR ↗
2026/04Akasaka Park Building134.4×¥100M3.10%33REIT-IR ↗
2026/03Hamamatsucho PREX71.5×¥100M3.40%3REIT-IR ↗
2026/03Daiwa Azabudai Building22.4×¥100M3.80%42REIT-IR ↗
2026/03Akasaka Intercity AIR55.5×¥100M2.60%—REIT-IR ↗
2026/02TOKYU REIT Toranomon Building65.2×¥100M3.00%38REIT-IR ↗
2026/01TOKYU REIT Toranomon Building48.9×¥100M3.00%38REIT-IR ↗
2026/01JEI Hamamatsucho Building51.2×¥100M3.20%—REIT-IR ↗
2026/01Minami-Azabu Building51.0×¥100M3.60%34REIT-IR ↗
2025/12Toranomon Hills Mori Tower96.7×¥100M2.40%11REIT-IR ↗
2025/11JEI Hamamatsucho Building41.9×¥100M3.20%—REIT-IR ↗
2025/10JMFビル赤坂0177.0×¥100M3.00%—REIT-IR ↗
2025/10Akasaka Park Building134.4×¥100M3.10%32REIT-IR ↗
2025/09ヒューリック神谷町ビル375.2×¥100M3.00%—REIT-IR ↗
2025/07Toranomon Hills Mori Tower78.2×¥100M2.40%11REIT-IR ↗
2025/06ヒューリック神谷町ビル234.5×¥100M3.00%—REIT-IR ↗
2025/05赤坂ガーデンシティ546.0×¥100M—19REIT-IR ↗
2025/04Ark Hills Front Tower172.5×¥100M3.20%14REIT-IR ↗
2025/04TOKYU REIT Toranomon Building48.9×¥100M3.00%37REIT-IR ↗
2025/04Akasaka Park Building134.8×¥100M3.10%32REIT-IR ↗
2025/03Aoyama Suncrest Building34.0×¥100M——REIT-IR ↗
2025/03(Kashi) Shinagawa Konan PJ82.0×¥100M3.50%1REIT-IR ↗
2025/03Shiba NBF Tower321.0×¥100M3.00%39REIT-IR ↗
2025/03仙台 MT ビル(追加取得)15.6×¥100M4.40%26REIT-IR ↗
2025/02Landic Dai 2 Shinbashi Building100.0×¥100M—47REIT-IR ↗
2025/01NBF Toranomon Building (Main Building)8.6×¥100M—62REIT-IR ↗
2024/10Kowa Nishishinbashi Building B (Additional Acquisition)0.6×¥100M3.40%30REIT-IR ↗
2024/09ザイマックス三田ビル8.9×¥100M3.60%33REIT-IR ↗
2024/04MG Shirokanedai Building87.8×¥100M——REIT-IR ↗
2024/03Panasonic Tokyo Shiodome Building67.0×¥100M3.20%21REIT-IR ↗
2024/03Granpark148.5×¥100M—28REIT-IR ↗
2024/033rd MINAMI AOYAMA210.0×¥100M—1REIT-IR ↗
2024/02Round Cross Shibadaimon48.0×¥100M——REIT-IR ↗
2024/02Toranomon Hills Business Tower84.4×¥100M2.50%4REIT-IR ↗
2023/12シーバンスS棟(追加取得) (持分割合:4.21725%)22.9×¥100M—32REIT-IR ↗
2023/11NBF Shiba Park Building85.0×¥100M3.50%33REIT-IR ↗
2023/03S-GATE赤坂 (追加取得)14.0×¥100M3.80%8REIT-IR ↗
2023/03Kamiyacho Trust Tower237.0×¥100M2.50%3REIT-IR ↗
2023/02the ARGYLE aoyama (持分割合:50%)239.0×¥100M2.70%3REIT-IR ↗
2022/12Akasaka Kawase Building7.8×¥100M3.40%—REIT-IR ↗
2022/06Kowa Shirokanedai Building54.0×¥100M4.20%—REIT-IR ↗
2022/04PMO Hamamatsucho II55.0×¥100M3.30%2REIT-IR ↗
2022/04Round Cross Mita18.0×¥100M——REIT-IR ↗
2022/03Akasaka Yonchome Building (Tokyu Agency Headquarters Building)98.2×¥100M3.30%19REIT-IR ↗
2022/03Urbanet Uchisaiwaicho Building56.4×¥100M2.70%3REIT-IR ↗
2022/02Ichigo Akasaka 5-chome Building17.2×¥100M3.70%34REIT-IR ↗
2021/12KDX虎ノ門一丁目ビル17.0×¥100M——REIT-IR ↗
2021/12JMFビル赤坂02424.3×¥100M2.70%10REIT-IR ↗
Show transactions older than 5 years (23)
DatePropertyPriceCap rateAgeSource
2021/09S-GATE赤坂 (追加取得)14.0×¥100M4.80%6REIT-IR ↗
2021/08Toranomon Hills Mori Tower78.7×¥100M2.60%7REIT-IR ↗
2021/07ザイマックス三田ビル6.7×¥100M4.00%30REIT-IR ↗
2021/03Shinagawa Season Terrace65.2×¥100M3.30%6REIT-IR ↗
2021/03NBF Minamiaoyama Building316.0×¥100M3.00%26REIT-IR ↗
2021/03Kamiyacho Trust Tower279.6×¥100M——REIT-IR ↗
2021/03Tokyo Shiodome Building279.6×¥100M——REIT-IR ↗
2021/02Tensho Shinbashi 5-chome Building12.0×¥100M3.60%3REIT-IR ↗
2020/12Shinagawa Season Terrace122.0×¥100M—5REIT-IR ↗
2020/12Alphabet Seven21.0×¥100M3.70%30REIT-IR ↗
2020/12西新橋1丁目ビル94.8×¥100M3.40%34REIT-IR ↗
2020/12虎ノ門PFビル34.4×¥100M3.70%34REIT-IR ↗
2020/12Toranomon Hills Mori Tower100.0×¥100M2.70%6REIT-IR ↗
2020/11西新橋1丁目ビル189.6×¥100M3.40%34REIT-IR ↗
2020/11Daiwa新橋510ビル4.2×¥100M4.00%46REIT-IR ↗
2020/10S-GATE Akasaka42.0×¥100M3.20%5REIT-IR ↗
2020/09OKI ビジネスセンター 5 号館119.0×¥100M—38REIT-IR ↗
2020/09Toranomon Hills Mori Tower122.2×¥100M2.60%6REIT-IR ↗
2020/07Alphabet Seven14.0×¥100M3.70%30REIT-IR ↗
2020/06新橋 M-SQUARE Bright163.0×¥100M2.90%2REIT-IR ↗
2020/03芝浦ルネサイトタワー(共有持分 10%相当)34.8×¥100M—11REIT-IR ↗
2020/01Seabance Building S54.0×¥100M3.90%29REIT-IR ↗
2019/10TOKYU REIT 赤坂檜町ビル48.0×¥100M——REIT-IR ↗
View these 74 deals on the mapSearch comparables

FAQ

What is the average Office cap rate in Minato, Tokyo?

The median cap rate across 17 J-REIT disclosed transactions in the last 12 months is 3.10% (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.

Other asset types in Minato

Minato × Retail（11）Minato × Residential（7）Minato × Hotel（6）

Office in Tokyo

Chiyoda × Office（53）Chuo × Office（49）Shinjuku × Office（23）Shinagawa × Office（20）Koto × Office（13）Shibuya × Office（13）Taito × Office（13）Toshima × Office（7）

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