Shinagawa, Tokyo — Office Cap Rates & Price per Sqm
20 transactions from J-REIT timely disclosures｜Last updated: September 21, 2026 (refreshed weekly)
Transactions
20
Median CR (all time)
3.70%
CR range (last 3 years)
3.2–3.9%
Avg. price (all time)
103.9×¥100M
1 transactions were disclosed in the last 12 months. The all-time median cap rate across 17 deals is 3.70%.
Cap rate trend (monthly median)
Calculated from disclosed cap rates (appraisal NOI yield). See the table below for individual sources.
All transactions (20)
| Date | Property | Price | Cap rate | Age | Source |
|---|---|---|---|---|---|
| 2026/04 | Togoshi Ginza Round Building | 31.5×¥100M | — | 34 | REIT-IR ↗ |
| 2025/08 | Lead-C Gotenyama Building | 11.7×¥100M | 3.70% | 36 | REIT-IR ↗ |
| 2025/08 | FORECAST Shinagawa | 27.0×¥100M | 3.70% | 36 | REIT-IR ↗ |
| 2025/05 | KDX 東品川ビル | 55.7×¥100M | 3.90% | 32 | REIT-IR ↗ |
| 2025/03 | 品川シーサイドウエストタワー | 124.4×¥100M | 3.90% | 21 | REIT-IR ↗ |
| 2024/05 | Ichigo Gotanda West Building | 39.5×¥100M | 3.50% | 39 | REIT-IR ↗ |
| 2024/04 | Osaki Bright Tower and Osaki Bright Plaza | 131.0×¥100M | 3.20% | 9 | REIT-IR ↗ |
| 2024/02 | Sea Fort Square/Center Building | 130.0×¥100M | — | — | REIT-IR ↗ |
| 2024/01 | A-8 Shinagawa Seaside TS Tower | 161.0×¥100M | 3.40% | 21 | REIT-IR ↗ |
| 2023/03 | 御殿山SHビル | 700.0×¥100M | 3.30% | 12 | REIT-IR ↗ |
| 2022/12 | Gotanda First Building | 42.7×¥100M | 3.70% | 33 | REIT-IR ↗ |
| 2022/10 | ヒューリック五反田ビル | 61.6×¥100M | 3.80% | 36 | REIT-IR ↗ |
Show transactions older than 5 years (8)
| Date | Property | Price | Cap rate | Age | Source |
|---|---|---|---|---|---|
| 2021/09 | Meguro Tokyu Building | 163.0×¥100M | 3.30% | 19 | REIT-IR ↗ |
| 2021/09 | 品川シーサイドTSタワー (追加取得) | 109.0×¥100M | 3.20% | 18 | REIT-IR ↗ |
| 2021/08 | Lead-C Gotenyama Building | 10.4×¥100M | 3.90% | 32 | REIT-IR ↗ |
| 2021/06 | Osaki CN Building | 51.6×¥100M | 3.70% | 29 | REIT-IR ↗ |
| 2020/10 | Lead-C Meguro Fudo-mae | 12.2×¥100M | 4.20% | 24 | REIT-IR ↗ |
| 2020/10 | 大崎ブライトタワー | 139.7×¥100M | 3.20% | 5 | REIT-IR ↗ |
| 2020/03 | 大崎ブライトコア・ブライトプラザ(追加取得) | 28.0×¥100M | — | 5 | REIT-IR ↗ |
| 2020/03 | ゲートシティ大崎 | 48.0×¥100M | 3.50% | — | REIT-IR ↗ |
FAQ
What is the average Office cap rate in Shinagawa, Tokyo?
The median cap rate across 17 J-REIT disclosed transactions (all time) is 3.70% (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.