Shibuya, Tokyo — Retail Cap Rates & Price per Sqm
9 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
9
Median deal cap rate (all time)
3.40%
Deal cap rate range (last 3 years)
2.70–3.60%
Avg. price (all time)
¥4.23bn
Properties appraised
17
Median appraisal cap rate
3.10%
Appraisal cap rate range
2.4–4.0%
Period ends
2026/02–2026/07
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 9 deals is 3.40%.
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 (9)
| Source | |||||
|---|---|---|---|---|---|
| 2026.07 | Jingumae 4-chome Building | ¥1.80bn | 2.70% | 2006 · 20 yrs | REIT-IR ↗ |
| 2025.10 | Konami Sports Club Shibuya | ¥3.75bn | 3.60% | 1990 · 36 yrs | REIT-IR ↗ |
| 2025.02 | Shibuya World East Building | ¥5.90bn | 3.10% | — | REIT-IR ↗ |
| 2024.09 | CONZE Ebisu | ¥6.53bn | 3.20% | 2004 · 22 yrs | REIT-IR ↗ |
| 2023.11 | Harajuku FF Building | ¥3.88bn | 4.20% | 1985 · 40 yrs | REIT-IR ↗ |
| 2023.11 | Harajuku FF Building | ¥3.88bn | 4.20% | 1985 · 40 yrs | REIT-IR ↗ |
| 2022.04 | G Building Jingumae 02 | ¥1.85bn | 3.10% | — | REIT-IR ↗ |
| 2021.08 | Daikanyama Forum | ¥4.25bn | 3.40% | 1993 · 33 yrs | REIT-IR ↗ |
| 2021.07 | Takeshita Dori Square | ¥6.19bn | 3.50% | 2015 · 11 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)
Shibuya · Retail: 17 properties · period ends 2026/02–2026/07 · median 3.10% (2.4%–4.0%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| QFRONT (キューフロント)Tokyu REIT, Inc. | 2.4% | ±0 | 2026/07 | Filing ↗ |
| cocoti (ココチ)Tokyu REIT, Inc. | 2.8% | ±0 | 2026/07 | Filing ↗ |
| TOKYU REIT渋谷宇田川町スクエアTokyu REIT, Inc. | 3.0% | ±0 | 2026/07 | Filing ↗ |
| TOKYU REIT表参道スクエアTokyu REIT, Inc. | 3.0% | ±0 | 2026/07 | Filing ↗ |
| Desigual HarajukuMitsui Fudosan Retail Fund Investment Corporation | 3.1% | +20 | 2026/06 | Filing ↗ |
| Takeshita Dori SquareMitsui Fudosan Retail Fund Investment Corporation | 3.1% | -20 | 2026/06 | Filing ↗ |
| JPR渋谷タワーレコードビルJapan Prime Realty Investment Corporation | 3.2% | – | 2026/06 | Filing ↗ |
| 東急プラザ表参道 「オモカド」Activia Properties Inc. | 2.6% | ±0 | 2026/05 | Filing ↗ |
| キュープラザ原宿Activia Properties Inc. | 2.8% | ±0 | 2026/05 | Filing ↗ |
| キュープラザ恵比寿Activia Properties Inc. | 3.4% | +20 | 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 Shibuya · Retail as a list →
FAQ
What is the average Retail cap rate in Shibuya, Tokyo?
The median cap rate across 9 J-REIT disclosed transactions (all time) is 3.40% (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.