JPR Yokohama Nihon Odori Bldg.
An office building in a historic business district
Dating back to the early Showa period, the Yokohama/Kannai area is one of Yokohama's oldest business districts and home to many prefectural and municipal government offices.
The JPR Yokohama Nihon Odori Building is situated among a cluster of office buildings in the vicinity of Nihon Odori Station and faces Osanbashi-dori Street, which is lined with zelkova trees. Its dignified tile-covered exterior blends in seamlessly with the historic business district. The office spaces have approximately 170 tsubos per floor and can be divided into smaller sections, making it ideal for lawyers, accountants, and the like.
It is conveniently located in terms of transportation access just a 3-minute walk from Nihon-Odori Station on the Minato-Mirai Line, and the convenience store on the first floor makes it even more convenient for users.
Routes from Nearby Stations
Click the station names below and you can see the route from the relevant station to the property.
|Address||Yokohama, Kanagawa 17 Nihonodori, Naka-ku|
|Structure/Floors||SRC B1/11F||Acquisition Price (million yen)||2,927|
|Total Floor Space (m2)||9,146.52||Leasable Space (m2)||6,079.74|
|Completed||1989-10||Standard Floor Space (m2)||565.81|
|Acquisition Date||November 16, 2001||No. of Tenants||18|
- (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.
- (Note5)As of Aug. 2021, the "Leasable space" was changed from 6079.74 to 6079.73.
Floor Plan (Japanese)
|Rental Revenues (million yen)||129||127||131||131|
|Rental Expenses (million yen)||41||47||44||40|
|NOI from Leasing (million yen)||87||80||86||90|
|Depreciation (million yen)||24||24||24||24|
|Rental Income (million yen)||63||55||61||66|
|Capital Expenditures (million yen)||16||4||5||2|
|Period-End Occupancy Rate (%)||100.0||100.0||100.0||98.8|
|NOI Yield (%)||5.9||5.5||5.9||6.3|
|NOI Yield after Depreciation (%)||4.3||3.8||4.2||4.6|
|Appraisal Value (million yen)||2,360||2,340||2,340||2,350|
|Gain or Loss from Valuation (million yen)||-48||-48||-29||2|
|Cap Rate (%)||4.9||4.9||4.9||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.