JPR Shibuya Tower Records Bldg.

A-1 Tokyo CBDs Retail Outside

The flagship store of a leading music retailer and culture promoter

This commercial building is the flagship store of Tower Records, a leading music retailer in Shibuya, one of Japan's major cultural centers.
A 4-minute walk from Shibuya Station on JR and other private railway and subway lines, the building stands out with its distinctive exterior design on the corner of Koen-dori street leading from the Shibuya Station area to Meiji-dori Street in the direction of Harajuku. It is a high-potential district with many fashion buildings and popular street-level stores.
Redevelopment is underway mainly in and around Miyashita Park and Shibuya Station, attracting more attention and visitors to the area.

Access Map

Related Press Releases

Notice Concerning Acquisition of Jinnnan 1-chome Building
Notice Concerning a Principal Tenant

Property Overview

Address Shibuya-ku, Tokyo22-14 Jinnan 1-Chome
Structure/Floors SRC, S  B3/8F Acquisition Price (million yen) 12,000
Total Floor Space (m2) 8,449.56 Leasable Space (m2) 8,076.85
Completed 1992-2 Standard Floor Space (m2) 792.42
Acquisition Date June 30, 2003 No. of Tenants 1
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) - - - -
Rental Expenses (million yen) - - - -
NOI from Leasing (million yen) 265 274 276 277
Depreciation (million yen) 20 21 20 20
Rental Income (million yen) 245 253 255 257
Capital Expenditures (million yen) 11 9 13 1
Period-End Occupancy Rate (%) 100.0 100.0 100.0 100.0
NOI Yield (%) 4.4 4.5 4.6 4.6
NOI Yield after Depreciation (%) 4.1 4.2 4.3 4.3
Appraisal Value (million yen) 13,800 14,100 14,100 14,200
Gain or Loss from Valuation (million yen) 2,362 2,674 2,681 2,800
Cap Rate (%) 3.4 3.4 3.4 3.4
  • (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.
  • (Note7)Due to unavoidable circumstances, the sum total of rental revenues and the sum total of rental expenses, etc. of the property are not disclosed.

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