NNN Properties
for Sale in California
California is an active NNN market and a common starting point for 1031 replacement-property searches. Eli Satra Shans is a California-licensed real estate broker whose legal background informs lease analysis and transaction diligence as your broker.
Buying & Selling NNN in California
California's sheer population density and institutional investor concentration make it the most active NNN transaction market nationally. Properties sell quickly and attract competitive bidding.
Eli Satra Shans' legal background informs his work as a California-licensed real estate broker. As your broker, he evaluates lease economics, landlord obligations, assignment provisions, and termination risks to help you compare investments and coordinate diligence with your advisers.
California investors may consider replacement properties in California or other states to suit their investment goals. Buying out of state does not automatically eliminate California tax. Your tax advisers should confirm exchange eligibility, residency, and the treatment of rental income and deferred gains.
California NNN properties — particularly Los Angeles freestanding retail — carry institutional demand from national REITs, family offices, and international capital. Assets hold value exceptionally well in downturns.
Riverside and the Inland Empire offer California cap rates in the 5.25–6.75% range — far better than coastal pricing — with similar population and tenant quality.
Top California NNN Markets
We source NNN investment properties across all major California markets — off-market deals before they reach public portals.
Top NNN Tenants in California
The most active investment-grade NNN tenant categories we source across California markets.
California's most prolific NNN tenant. Ground leases on LA and San Diego corners command sub-4% cap rates from institutional buyers. Extremely liquid nationally and locally.
Drive-through locations in California are among the most sought-after NNN assets nationally. Corporate guarantee. Compressed cap rates in LA and SD reflect exceptional investor demand.
Freestanding CVS on California high-traffic corners. 15–25 year primary terms. Institutional quality. LA and SD assets attract national REIT and private equity buyer pools.
Extremely rare in California due to limited expansion. When available, California Chick-fil-A NNN deals attract the broadest buyer pool of any QSR category.
Ground lease and fee-simple bank NNN properties on premium California corners. Long primary terms with investment-grade corporate guarantee. Active 1031 exchange vehicle.
Freestanding pharmacy assets with long leases. LA and San Diego Walgreens properties are particularly sought-after due to the high barrier to entry for new pharmacy construction.
High-density California market. Corporate-guaranteed absolute NNN leases. Consistent deal flow from sale-leaseback and development pipelines across all California markets.
Strong in Inland Empire and Sacramento markets. Absolute NNN, 5.25–6.75% cap rates. Best value-oriented NNN option in California for income-focused buyers.
1031 Exchange into California NNN
California investors may use a qualifying 1031 exchange to defer recognition of eligible gains while acquiring replacement investment property. The ESS Group helps source and evaluate in-state and out-of-state candidates and coordinate acquisition work as your broker. Identification is generally required within 45 days, with a separate closing deadline confirmed by your qualified intermediary. Your tax advisers should confirm eligibility, residency, and continuing California tax and reporting obligations; an out-of-state purchase does not automatically remove them.
Learn about 1031 exchangesAbsolute NNN in California
California has absolute NNN properties in the QSR, pharmacy, and convenience categories, including McDonald's ground leases, CVS, and Starbucks drive-throughs. Eli Satra Shans' legal background informs deeper lease analysis as your broker, including rent terms, landlord obligations, tenant guarantees, and investment risks.
View all NNN categoriesCalifornia NNN FAQ
What are typical cap rates for NNN properties in California?
California NNN cap rates range from 3.75% in prime Los Angeles locations to 6.75% in Inland Empire and Sacramento markets. Los Angeles and San Diego coastal assets trade at 3.75–5.5%. Riverside / Inland Empire offers 5.25–6.75%. Sacramento markets trade at 5.25–6.75%. California's compressed cap rates reflect institutional demand, liquidity, and high land barriers to entry.
Should I buy NNN in California or 1031 exchange out of state?
It depends on your budget, tenant criteria, financing, location preferences, and hold period. We help compare lease economics and property risks as your broker. Buying in Texas, Florida, or another state does not automatically eliminate California tax; California residents may still owe tax on out-of-state rental income, and deferred gains may carry continuing obligations. Your tax advisers should confirm exchange eligibility, residency, and tax treatment before you decide.
How does Eli's legal background inform his work as an NNN broker?
Eli applies his legal training to investment analysis in his role as your California-licensed real estate broker. He helps evaluate lease economics, landlord obligations, assignment provisions, tenant guarantees, and termination risks, then coordinates transaction diligence with your advisers. That background strengthens the brokerage analysis used to compare NNN investments.
What are the best California cities for NNN investing?
Los Angeles is the premier market for trophy NNN assets — institutional quality, maximum liquidity, but compressed cap rates. San Diego offers similar quality with slightly better yields. Riverside/Inland Empire is the best value play in California — similar tenant quality to coastal markets but cap rates of 5.25–6.75%. Sacramento is the best California market for income-focused buyers who prioritize cash-on-cash returns.
Access California NNN Deals
Before They Hit the Market
Tell us your criteria — tenant preference, cap rate target, price range, 1031 exchange timeline — and we'll match you with current off-market California NNN inventory.