JPR Ningyo-cho Bldg.

A-3 Tokyo CBDs Office Medium-size Sponsor

Excellent visibility and high-quality facilities

This building is located close to Nihonbashi and Takaracho, a district whose streets are lined with large office buildings and department stores and which has attracted attention in recent years thanks to large-scale redevelopment. There is a mixture of old and new buildings throughout the area.
The building is near Ningyocho subway station and is highly visible as it is situated close to Amazake Yokocho crossing, where there are many traditional stores that have been in business since the Edo period, and it is equipped with high-quality facilities including raised floors. It has a standard floor space of over 110 tsubos and is surrounded by many retail establishments and small- and medium-sized office buildings.

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Property Overview

Address Chuo-ku, Tokyo17-4 Nihonbashiningyocho 1- Chome
Structure/Floors SRC,RC  B1/8F Acquisition Price (million yen) 2,100
Total Floor Space (m2) 4,117.70 Leasable Space (m2) 2,802.22
Completed 1989-12 Standard Floor Space (m2) 379.23
Acquisition Date November 16, 2001 No. of Tenants 5
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  • (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) 94 94 88 91
Rental Expenses (million yen) 33 33 28 24
NOI from Leasing (million yen) 60 61 60 67
Depreciation (million yen) 17 18 19 19
Rental Income (million yen) 42 42 41 47
Capital Expenditures (million yen) 18 47 15 8
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 5.8 5.8 5.8 6.4
NOI Yield after Depreciation (%) 4.1 4.1 4.0 4.5
Appraisal Value (million yen) 2,890 2,900 2,930 3,040
Gain or Loss from Valuation (million yen) 788 769 803 924
Cap Rate (%) 3.8 3.8 3.8 3.7
  • (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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