JPR Naha Bldg.

C-9 Other Cities Office Medium-size Sponsor

A building in the heart of Okinawa’s business area

Located near the Kenchomae area at the heart of Okinawa's business district, this building offers exceptional convenience--it is a 4-minute walk from Kenchomae monorail station and 12 minutes from Naha Airport.
Each floor has over 100 tsubos of space and can be divided into four sections, enabling it to meet the needs of small sales offices and the like. It houses a diverse range of tenants, including the Okinawa branches of companies from various industries who are expanding across Japan. Each floor has individual air-conditioning and an expansive smoking space, earning the building an excellent reputation among users.
What's more, it is appreciated for the fact that it has enabled energy and resource savings by introducing LED lighting, high-efficiency air-conditioning, water-saving toilets, and the like and collaborates closely with tenants and the management company through setting energy-saving targets and developing a BCP manual. In October 2015, it received DBJ Green Building Certification recognizing it as a building with "high environmental and social awareness."

Access Map

Routes from Nearby Stations

Click the station names below and you can see the route from the relevant station to the property.

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Related Press Releases

Notice Concerning Change in Major Tenant (Meiji Ysuda Life Insurance Company)
Notice Concerning Acquisition of DBJ Green Building Certification

Property Overview

Address Naha, Okinawa1-19 Matsuyama 1-Chome
Structure/Floors SRC, S  12F Acquisition Price (million yen) 1,560
Total Floor Space (m2) 5,780.71 Leasable Space (m2) 3,945.01
Completed 1991-10 Standard Floor Space (m2) 339.13
Acquisition Date November 16, 2001 No. of Tenants 20
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

37th 38th 39th 40th
Rental Revenues (million yen) 108 112 110 115
Rental Expenses (million yen) 54 35 34 32
NOI from Leasing (million yen) 54 76 76 82
Depreciation (million yen) 20 23 23 23
Rental Income (million yen) 34 53 52 59
Capital Expenditures (million yen) 191 35 13 2
Period-End Occupancy Rate (%) 97.9 97.9 100.0 100.0
NOI Yield (%) 7.0 9.7 9.9 10.5
NOI Yield after Depreciation (%) 4.4 6.8 6.8 7.5
Appraisal Value (million yen) 2,150 2,170 2,180 2,240
Gain or Loss from Valuation (million yen) 502 509 530 612
Cap Rate (%) 5.0 5.0 5.0 4.9
  • (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.

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