JPR Nagoya Fushimi Bldg.

C-19 Other Cities Office Large Outside

Located in the Fushimi area, the building stands in front of a park and is surrounded with a favorable environment

The building is located in the Fushimi area, roughly between the JR Nagoya Station area characterized by the recent accumulation of office buildings and the Sakae area, which has traditionally functioned as a center of commerce. Across the street in front of it, the building commands a view of Shirakawa Park where the Municipal Art Museum and the Science Museum are located. It is blessed with abundant greenery.
With the sizable area of 247 tsubo per floor, the building underwent renovation in 2009 and has a comfortable office environment in terms of facilities and other aspects. The office building is also equipped with a multistory parking space and can satisfy needs from tenants that require the use of many vehicles for sales activities.

Access Map

Related Press Releases

Notice Concerning Execution of a Purchase Agreement on Connection with the Acquisition of the UJF Central Leasing Head Office Building
Notice Concerning Change of Property Name

Property Overview

Address Nagoya, Aichi24-15 Sakae 1-Chome, Naka-ku
Structure/Floors SRC  B1/9F Acquisition Price (million yen) 4,137
Total Floor Space (m2) 10,201.44 Leasable Space (m2) 7,086.23
Completed 1991-3 Standard Floor Space (m2) 817.44
Acquisition Date March 22, 2005 No. of Tenants 5
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) 152 154 156 150
Rental Expenses (million yen) 75 62 52 55
NOI from Leasing (million yen) 76 91 103 95
Depreciation (million yen) 35 38 38 39
Rental Income (million yen) 41 53 64 55
Capital Expenditures (million yen) 19 75 27 12
Period-End Occupancy Rate (%) 99.5 99.5 99.5 94.1
NOI Yield (%) 3.7 4.4 5.0 4.6
NOI Yield after Depreciation (%) 2.0 2.6 3.2 2.7
Appraisal Value (million yen) 3,390 3,370 3,420 3,440
Gain or Loss from Valuation (million yen) -397 -454 -394 -347
Cap Rate (%) 4.8 4.8 4.8 4.8
  • (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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