Absolute NNN Ground Lease With Citibank 16601 Ventura Blvd Bureau 4 196 m² À vendre Encino, CA 91436 8 606 295 € (2 050,91 €/m²) Taux de capitalisation 4,73 %

Matthew Luchs of Zacuto Group, as exclusive advisor, is pleased to present a rare opportunity to acquire the leased fee interest in a premier generational asset located at 16601 Ventura Boulevard, Encino, CA, a trophy ground-leased property tenanted by Citibank, N.A., an investment-grade (A+) credit tenant. Situated on a 33,031 square foot parcel at the high-profile signalized intersection of Ventura Boulevard and Rubio Avenue, where traffic counts exceed 47,500 vehicles per day, the asset sits in the heart of one of the San Fernando Valley's most prestigious and affluent trade areas.
Citibank owns and operates the ±44,555 square foot building, constructed in 1983, pursuant to a 55-year ground lease originally executed in 1979. The lease runs through April 30, 2034, with two successive 10-year renewal options that could extend the term to April 30, 2054. The lease is absolute NNN, with the tenant responsible for all taxes, insurance, utilities, maintenance, and every cost of ownership and operation, providing the landowner with zero landlord responsibilities and a truly passive income stream. Current rent is $472,788 per year ($39,399.02 per month), and rent adjusts every five years based on CPI (All Urban Consumers, Los Angeles area). Adjustments are uncapped and rent can never decrease, a powerful inflation hedge rarely found in net-lease product, with the next scheduled adjustment on May 1, 2029.
Upon lease expiration or termination, title to all improvements automatically reverts to the landowner without payment, offering exceptional long-term upside and flexibility. The owner may continue collecting credit-tenant ground rent, re-tenant or reposition a ±44,555 square foot building on Ventura Boulevard or pursue redevelopment of a rare 33,031 square foot signalized-corner parcel in the heart of Encino. Citibank holds a Right of First Refusal (ROFR) on any sale of the fee interest.
This is a true generational holding, a fee position beneath an investment-grade tenant, on irreplaceable Ventura Boulevard land, with built-in inflation protection and full reversion of improvements.
*This offering represents the leased fee (land ownership) interest only and does not include the sale of the building. The building is owned by the tenant during the lease term. Upon expiration or termination of the ground lease, title to the building and all improvements automatically reverts to the landowner at no cost, at which point the owner holds fee simple title to both the land and the building.