Wells Fargo
Wells Fargo branch in Canoga Park, California, offered at $3,125,000 ($256/SF) on a 6.00% cap ($51,584 NOI). The 12,170 SF single-tenant asset is anchored by Wells Fargo under an absolute NNN lease extended through August 31, 2031, with one additional five-year renewal option through August 2036. The tenant covers all operating expenses, taxes, insurance, maintenance, HVAC, parking, and utilities, delivering fully passive income backed by one of the nation's largest financial institutions.
Built in 1954 and continuously occupied by Wells Fargo and its predecessor First Interstate Bank since 1996, the property sits on a generous 36,063 SF site (across two parcels) with 53 parking spaces and a triple drive-thru. Located along the busy Sherman Way corridor one block east of Topanga Boulevard and approximately one mile north of the planned Rams Village at Warner Center, the asset benefits from strong visibility and rapid market growth in the trade area. Wells Fargo has committed to a full branch renovation in 2026 at its own expense, enhancing the property's condition and reinforcing tenant stability. The LAC2 zoning and excellent land-to-building ratio create significant underlying land value and long-term redevelopment potential.
- Absolute NNN lease; tenant responsible for all operating expenses
- Wells Fargo lease extended through August 2031 with one five-year renewal option
- Continuous occupancy since 1996; branch renovation scheduled for 2026
- Triple drive-thru and 53 parking spaces on 36,063 SF site
- Strong underlying land value and redevelopment potential; LAC2 zoning
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Features & amenities
Location
This investment opportunity features a 12,170-square-foot Wells Fargo branch offered at an attractive low price per square foot, with the bank recently extending its lease through August 31, 2031, and retaining one additional five-year renewal option through August 2036. Situated along the busy Sherman Way corridor just one block east of Topanga Boulevard and approximately one mile north of the planned Rams Village at Warner Center, the property benefits from strong visibility in a rapidly growing market. The asset sits on a generous 36,063-square-foot site across two parcels with 53 parking spaces, offering an excellent land-to-building ratio and future redevelopment potential. Wells Fargo and its predecessor, First Interstate Bank, have occupied the location continuously since 1996, reflecting a long-term commitment to the site. The property also includes a triple drive-thru, providing flexibility for future repositioning after the lease term. Wells Fargo has scheduled a branch renovation in 2026 at its own expense, further reinforcing its commitment while enhancing the property's condition. Priced at approximately $256 per square foot, the asset represents a compelling value and is secured by an absolute NNN lease, under which the tenant is responsible for all operating expenses, including taxes, insurance, maintenance, HVAC, parking, utilities, and common area costs. Backed by the strong credit of one of the nation's largest financial institutions, the property also benefits from flexible LAC2 zoning and significant underlying land value, creating long-term development potential.