An excellent opportunity to acquire a single-tenant, triple-net investment property occupied by Citi Bank, a nationally recognized financial institution. Strategically located along Geer Road in Turlock, this ±4,243-square-foot property offers investors an attractive combination of established tenancy, contractual rent growth, and a true NNN lease structure designed to provide a highly passive ownership experience.
The property is currently leased to Citi Bank, with the tenant responsible for property taxes, insurance, maintenance, and utilities, significantly limiting the landlord's ongoing operating responsibilities. The lease provides 1.5% annual contractual rent increases, creating predictable income growth throughout the current lease term. In addition, the tenant has two five-year renewal options, providing the potential for continued long-term occupancy.
For 2026, the property generates $124,950.95 in annual rent, or $10,412.58 per month, with scheduled annual increases to $126,825.21 in 2027, $128,727.59 in 2028, and $130,658.50 in 2029. The offering is presented at $2,179,000, representing a proposed 6.2% cap rate based on the stated 2026 income.