Minami Azabu Building

A-15 Tokyo CBDs Office Medium-size Sponsor

A striking exterior and peaceful work environment

This building is located in the Minami-Azabu area, which has improved considerably in terms of transport accessibility. It is a 5-minute walk to the closest station, Shirokane-Takanawa, served by the Nanboku subway line.
The building is exceptionally striking and recognizable thanks to its stylish exterior design featuring a curved glass curtain wall, making it ideal for showrooms as well as offices. It has approximately 120 tsubos per floor, giving it an impression of scale in an area where there are many relatively small buildings.

Access Map

Related Press Releases

2008.7.07
Notice Concerning Property Acquisition (Conclusion of Contract)

Property Overview

Address Minato-ku, Tokyo12-3 Minamiazabu 2 Chome
Structure/Floors S  9F Acquisition Price (million yen) 3,760
Total Floor Space (m2) 4,570.63 Leasable Space (m2) 3,405.73
Completed 1992-6 Standard Floor Space (m2) 408.95
Acquisition Date July 14, 2008 No. of Tenants 1
Related website
  • (Note1) The abbreviations of the “Structure/Floors represent the following, respectively:
  • S: steel-framed RC: reinforced concrete SRC: steel-framed, reinforced concrete
  • (Note2) The acquisition price indicates the transfer price stated in the real estate transaction agreement or trust beneficiary transfer agreement, rounded down to the nearest million yen, and excludes various expenses required for the acquisition of the relevant real estate, etc. and consumption tax, etc.
  • (Note3) The “Total Floor Space” indicates the area of the entire building (including the interests owned by other sectional owners or co-owners) based on the registry.
  • (Note4) The “Leasable Space” indicates the area of the portions owned by JPR.

Floor Plan (Japanese)

Management Status

28th 29th 30th 31st
Rental Revenues (million yen) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) 25 33 61 66
Depreciation (million yen) 13 13 13 13
Rental Income (million yen) 11 19 47 52
Capital Expenditures (million yen) 4 4 0 0
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 1.3 1.8 3.2 3.5
NOI Yield after Depreciation (%) 0.6 1.1 2.5 2.8
Appraisal Value (million yen) 2,560 2,640 2,690 2,840
Gain or Loss from Valuation (million yen) -1,323 -1,234 -1,170 -920
Cap Rate (%) 4.6 4.5 4.5 4.2
  • (Note1) Period-end occupancy rate = Leased space/Leasable space
  • (Note2) NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation/Acquisition price
  • (Note3) NOI yield(after depreciation) = (Rent revenue - Realestate expenses related to rent business)/Acquisition price
  • (Note4) Unrealized gains or losses = Appraisal value - Book value
  • (Note5) Cap rate indicates the capitalization rate by the direct capitalization method. Direct capitalization method is one of the methods to calculate the value estimated by income approach (a method to estimate the value of the target property by calculating the sum total of present value of the net operating income which the target property is expected to generate in the future), and capitalizes the net operating income of a certain period by using the capitalization rate.
  • (Note6) The amounts and areas are rounded down to the nearest specified unit, and the percentages and other figures are rounded off to the nearest specified unit.
  • (Note7)Due to unavoidable circumstances, the sum total of rental revenues and the sum total of rental expenses, etc. of the property are not disclosed.

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