Shinagawa Canal Building
A stylish building in Shinagawa area that has attracted attention thanks to large-scale redevelopment
This building is located in the Shinagawa area, which is developing as an office area thanks to large-scale redevelopment.
It is an impressive office building featuring an exterior with one side covered entirely in glass and a stylish entrance. It is equipped with a rooftop green space, which is appreciated by occupants as a place to relax.
The closest station is JR Shinagawa, whose station building offers a broad range of retail outlets. It is also the planned departure station for the future Chuo Shinkansen maglev line, so demand for offices in the area is expected to increase even more.
The building is also environmentally friendly, with DBJ Green Building Certification recognizing it as having extremely "high environmental and social awareness."
Routes from Nearby Stations
Click the station names below and you can see the route from the relevant station to the property.
- 590m from Shinagawa Station on the Tokaido Shinkansen Line
- 610m from Shinagawa Station on the JR Yokosuka Line
- 610m from Shinagawa Station on the JR Keihin Tohoku Line
- 610m from Shinagawa Station on the JR Tokaido Main Line
- 640m from Tennozu Isle Station on the Tokyo Monorail Haneda Line
- 640m from Shinagawa Station on the JR Yamanote Line
- 670m from Shinagawa Station on the Keihin Express Main Line
- 690m from Kita-Shinagawa Station on the Keihin Express Main Line
Related Press Releases
|Address||Minato-ku, Tokyo12-33 Konan 2 Chome|
|Structure/Floors||S B1/8F||Acquisition Price (million yen)||1,870|
|Total Floor Space (m2)||5,216.21||Leasable Space (m2)||1,700.57|
|Completed||2008-7||Standard Floor Space (m2)||566.86|
|Acquisition Date||December 19, 2008||No. of Tenants||5|
- (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)
|Rental Revenues (million yen)||44||49||58||63|
|Rental Expenses (million yen)||28||21||19||19|
|NOI from Leasing (million yen)||16||27||39||43|
|Depreciation (million yen)||9||9||9||9|
|Rental Income (million yen)||6||17||30||34|
|Capital Expenditures (million yen)||0||2||0||1|
|Period-End Occupancy Rate (%)||89.9||89.9||100.0||100.0|
|NOI Yield (%)||1.8||2.9||4.3||4.6|
|NOI Yield after Depreciation (%)||0.7||1.9||3.3||3.6|
|Appraisal Value (million yen)||1,820||1,840||1,870||1,870|
|Gain or Loss from Valuation (million yen)||66||93||132||141|
|Cap Rate (%)||4.4||4.5||4.2||4.2|
- (Note1) Period-end occupancy rate = Leased space／Leasable space
- (Note2) Annualized NOI yield = (Rent revenue - Realestate expenses related to rent business) + Depreciation／Acquisition price
- (Note3) Annualized 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.