Office Transactions & Cap Rates in Shinagawa
32 transactions from J-REIT timely disclosures｜Last updated: July 18, 2026 (refreshed weekly)
Transactions
32
Median CR (last 12 months)
3.70%
CR range (last 3 years)
3.4–4.6%
Avg. price (all time)
68.8×¥100M
3 Office transactions in Shinagawa were disclosed in the last 12 months, with a median cap rate of 3.70%. That is 60bps lower than a year earlier.
Cap rate trend (monthly median)
Calculated from disclosed cap rates (appraisal NOI yield). See the table below for individual sources.
All transactions (32)
Show transactions older than 5 years (12)
| Date | Property | Price | Cap rate | Age | Source |
|---|---|---|---|---|---|
| 2021/06 | Osaki CN Building | 51.6×¥100M | 4.20% | 29 | REIT-IR ↗ |
| 2020/10 | Lead-C Meguro Fudo-mae | 12.2×¥100M | — | 25 | REIT-IR ↗ |
| 2019/04 | Urbanet Gotanda NN Building | 52.5×¥100M | — | 31 | REIT-IR ↗ |
| 2018/07 | TK Gotanda Building | 41.3×¥100M | — | 30 | REIT-IR ↗ |
| 2018/07 | Gotanda Sakura Building | 14.6×¥100M | — | 26 | REIT-IR ↗ |
| 2016/07 | TO-15 | 72.8×¥100M | — | — | REIT-IR ↗ |
| 2015/07 | FORECAST Gotanda WEST | 65.2×¥100M | — | 27 | REIT-IR ↗ |
| 2015/02 | Nishi-Gotanda 8-chome Building | 22.1×¥100M | — | 23 | REIT-IR ↗ |
| 2015/02 | Fujiwa Higashi-Gotanda Building | 20.3×¥100M | — | 31 | REIT-IR ↗ |
| 2014/06 | TO-11 | 106.9×¥100M | — | — | REIT-IR ↗ |
| 2014/01 | TO-9 | 57.3×¥100M | — | — | REIT-IR ↗ |
| 2008/03 | Gotanda NT Building | 41.0×¥100M | — | 22 | REIT-IR ↗ |
FAQ
What is the average cap rate for Office in Shinagawa?
The median cap rate across 3 J-REIT disclosed transactions in the last 12 months is 3.70% (as of July 18, 2026, appraisal NOI yield basis).
What is the data source?
Disclosure PDFs from TDnet (Tokyo Stock Exchange timely disclosure) and official J-REIT IR pages. Every record links to its source.