Taito, Tokyo — Office Cap Rates & Price per Sqm
14 transactions from J-REIT timely disclosures｜Last updated: November 1, 2026 (refreshed weekly)
Transactions
14
Median deal cap rate (all time)
3.60%
Deal cap rate range (last 3 years)
3.30–3.70%
Avg. price (all time)
¥6.18bn
Properties appraised
12
Median appraisal cap rate
3.60%
Appraisal cap rate range
3.2–4.7%
Period ends
2026/02–2026/06
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 13 deals is 3.60%.
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 (14)
| Source | |||||
|---|---|---|---|---|---|
| 2026.06 | HF Ueno Inari-cho Building | ¥9.06bn | 3.40% | 1992 · 34 yrs | REIT-IR ↗ |
| 2025.09 | Hankyu Hanshin Ueno Okachimachi Building | ¥3.21bn | 3.30% | 2022 · 4 yrs | REIT-IR ↗ |
| 2025.01 | JPR Ueno East Building | ¥6.15bn | 3.50% | 1992 · 34 yrs | REIT-IR ↗ |
| 2024.04 | Nomura Real Estate Ueno Building | ¥6.93bn | 3.40% | 1990 · 36 yrs | REIT-IR ↗ |
| 2024.02 | Tokyo Nissan Taito Building | ¥3.18bn | 3.70% | 1992 · 34 yrs | REIT-IR ↗ |
| 2024.01 | Tokyo Nissan Taito Building | ¥2.39bn | 3.70% | 1992 · 34 yrs | REIT-IR ↗ |
| 2023.11 | NBF Ueno Building | ¥9.90bn | 3.60% | 2010 · 16 yrs | REIT-IR ↗ |
| 2023.09 | Global One Ueno | ¥9.90bn | 3.40% | 2010 · 16 yrs | REIT-IR ↗ |
| 2023.07 | Tokyo Nissan Taito Building | ¥2.39bn | 3.70% | 1992 · 34 yrs | REIT-IR ↗ |
| 2023.03 | MI Terrace Kita-Ueno | ¥3.56bn | 3.70% | 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)
Taito · Office: 12 properties · period ends 2026/02–2026/06 · median 3.60% (3.2%–4.7%)
Number of properties per 0.1% cap rate band. The dark bar is the band containing the median.
Click a heading to sort
| Source | ||||
|---|---|---|---|---|
| イトーピア清洲橋通ビルNippon REIT Investment Corporation | 4.1% | ±0 | 2026/06 | Filing ↗ |
| HF上野ビルディングHeiwa Real Estate REIT, Inc. | 4.2% | ±0 | 2026/05 | Filing ↗ |
| MIテラス北上野Mirai Corporation | 3.5% | – | 2026/04 | Filing ↗ |
| KDX御徒町ビルKDX Realty Investment Corporation | 3.9% | ±0 | 2026/04 | Filing ↗ |
| Global One UenoGlobal One Real Estate Investment Corporation | 3.4% | ±0 | 2026/03 | Filing ↗ |
| PMO秋葉原北Nomura Real Estate Master Fund, Inc. | 3.2% | ±0 | 2026/02 | Filing ↗ |
| Hulic Ueno BuildingHulic Reit, Inc. | 3.4% | – | 2026/02 | Filing ↗ |
| Hulic Asakusabashi EdodoriHulic Reit, Inc. | 3.5% | – | 2026/02 | Filing ↗ |
| ONEST上野御徒町ビルOne REIT Investment Corporation | 3.6% | ±0 | 2026/02 | Filing ↗ |
| ヒューリック東上野一丁目ビルHulic Reit, Inc. | 3.6% | – | 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 Taito · Office as a list →
FAQ
What is the average Office cap rate in Taito, Tokyo?
The median cap rate across 13 J-REIT disclosed transactions (all time) is 3.60% (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.