Kidder Mathews is pleased to offer 31505 Castaic Road an opportunity to acquire a ±3.52-acre fee interest in land subject to a long-term absolute NNN master ground lease generating $237,012 of current annual NOI. Approximately 21.5 years remain on the master ground lease, providing a long-dated and highly passive income stream with no landlord operating, maintenance, property tax, insurance or capital expenditure responsibilities. A key component of the investment is the property's exceptional contractual rent growth. The master ground lease provides for CPI-based rent adjustments, with the July 1, 2023 adjustment resulting in a 20.75% increase in rent. The July 1, 2028 adjustment is currently projected to result in an additional ±18.90% increase, increasing projected annual NOI to approximately $281,795. At the current $4.74 million purchase price, this represents a 5.95% yield on purchase price based on projected 2028 NOI. The master tenant has subleased the property to two users, both of which are currently paying rent under the existing sublease structure. The fee owner benefits from the contractual income stream under the master ground lease while having zero operating, maintenance, property tax, insurance or capital expenditure responsibilities. The property occupies a highly visible signalized intersection immediately adjacent to Interstate 5, with approximately 174,661 vehicles per day traveling along the I-5 corridor. The ±3.52-acre land position provides approximately 153,331 SF of underlying land area with excellent freeway visibility and accessibility. The lease also provides for a Fair Market Value rent adjustment on July 1, 2033, creating additional potential for income growth during the remaining lease term. Offered at $4,740,000, the property represents a 5.0% current cap rate, approximately $31/SF of underlying land value, and significant contractual income growth through CPI-based rent adjustments.