16601 Ventura Blvd
A rare opportunity to acquire the leased fee (land) interest beneath a trophy Citibank, N.A. (A+ rated) branch and office building at the signalized corner of Ventura Boulevard and Rubio Avenue in Encino’s coveted 91436 corridor. The 33,031 SF parcel sits beneath a ±44,555 SF building constructed in 1983 and owned by the tenant, subject to a 55-year absolute NNN ground lease originally executed in 1979 and running through April 30, 2034, with two successive 10-year options that could extend the term to 2054.
Current ground rent is $472,788 per year ($39,399.02 per month), a 4.73% return on the asking price, adjusting every five years to the Los Angeles-area CPI with no cap and no possibility of decrease — the next adjustment is scheduled for May 1, 2029. The tenant bears every cost of ownership and operation, leaving the landowner with zero responsibilities and truly passive income. At lease expiration or termination, title to the building and all improvements reverts automatically to the landowner at no cost. Citibank holds a Right of First Refusal on any sale of the fee interest.
- Investment-grade credit tenant — ground lease held by Citibank, N.A. (A+), in continuous occupancy since 1979
- Absolute NNN ground lease with zero landlord responsibilities; rent payable without demand, offset, or abatement
- Uncapped CPI rent growth every five years with no possibility of decrease — a structural inflation hedge across the term and both options
- Current rent of $472,788 per year ($39,399.02 per month); next CPI adjustment May 1, 2029
- Reversion of ±44,555 SF of improvements to the landowner at no cost upon lease expiration or termination
- Irreplaceable 33,031 SF signalized corner at Ventura Blvd and Rubio Ave — 47,563 vehicles per day
- Affluent trade area: roughly 60,000 Encino residents with average household income above $200,000
- Defined path to ownership upside — base term to April 30, 2034 with two 10-year options to 2054
