JPR Ichigaya Bldg.

A-9 Tokyo CBDs Office Medium-size Outside

A highly convenient building offering access to multiple transport routes

This building occupies a highly convenient location very close to Ichigaya Station on the Toei Shinjuku Line and also offers access to JR Ichigaya Station.
The imposing exterior facing Yasukuni-dori Street is highly recognizable, and each floor has an average floor space of approximately 150 tsubos. It has maintained its competitive advantage in the area by renovating the entrance, security facilities, and other features. The surrounding area is also exceptionally convenient, with banks, post offices, restaurants, convenience stores, and more.
It is occupied by numerous tenants, and stable occupancy has been maintained with an appropriate tenant mix.

Access Map

Property Overview

Address Chiyoda-ku, Tokyo7-15 Kudanminami 4 Chome
Structure/Floors SRC  B1/9F Acquisition Price (million yen) 5,100
Total Floor Space (m2) 5,888.82 Leasable Space (m2) 4,235.05
Completed 1989-3 Standard Floor Space (m2) 500.00
Acquisition Date May 28, 2004 No. of Tenants 10
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) 135 158 162 155
Rental Expenses (million yen) 54 49 52 44
NOI from Leasing (million yen) 80 109 109 111
Depreciation (million yen) 17 17 18 18
Rental Income (million yen) 62 91 91 93
Capital Expenditures (million yen) 4 6 5 2
Period-End Occupancy Rate (%) 100.0 100.0 100.0 93.1
NOI Yield (%) 3.1 4.3 4.3 4.4
NOI Yield after Depreciation (%) 2.4 3.6 3.6 3.7
Appraisal Value (million yen) 4,890 5,000 5,080 5,080
Gain or Loss from Valuation (million yen) -361 -240 -147 -20
Cap Rate (%) 4.1 4.0 4.1 3.8
  • (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.

Print Property Information