Leased Medical Office
For Sale
Contact for pricing
2 Governors Ln, Chico, CA 95926
Fully leased two-story medical office includes exam rooms, offices, reception, and on-site parking within a professional complex.
Property Size3,408 SF
Lot Size0.28 Acres
Price / SF$166.15
Days on Market157
Property Features for 2 Governors Ln
General Information
Standard status
Active
Size
3,408 SF
Lot size
0.28 Acres
Property subtype
OFFICE
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Stories
2
Tenancy
Single
Listing Agency:
Capital Rivers
(916) 514-5225
Listed By:
Carrie Welch · License #01926238
(530) 570-5107
Source:
Moodyscre
Added: May 14
Changed: Oct 16
Last Checked: Oct 16 at 11:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Capital Rivers
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Investment Insights
Based on property information with market context.
This fully leased two-story medical office building is designed with a medical layout and includes four exam rooms, four private offices, a reception area, a waiting room, three large work areas, a break room, and five restrooms. The building is situated within a well-maintained professional office complex.
The property is located in Chico’s established commercial corridor, offering convenient access to CA-99 and East Avenue, with on-site parking supporting day-to-day operations for staff and patients.
2 Governors Lane is leased to Enloe Health under a full NNN lease, creating stable, passive income while maintaining a cohesive medical office environment within the surrounding professional complex.
The property is located in Chico’s established commercial corridor, offering convenient access to CA-99 and East Avenue, with on-site parking supporting day-to-day operations for staff and patients.
2 Governors Lane is leased to Enloe Health under a full NNN lease, creating stable, passive income while maintaining a cohesive medical office environment within the surrounding professional complex.
Key Highlights
- Fully leased two‑story medical office building totaling 3,408 SF on a 12,343 SF lot in Chico, CA
- Medical layout includes four exam rooms, four private offices, reception and waiting room, and three large work areas
- Additional interior features: five restrooms and a break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,628
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,560
$792.6K
Cap Rate 7%
$566,114
$566.1K
Cap Rate 9%
$440,311
$440.3K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$69.5K $20.40/SF
− Vacancy
−$3.5K −$1.02/SF
EGI
$66.0K $19.38/SF
− OpEx
−$26.4K −$7.75/SF
NOI
$39.6K $11.63/SF
Area
Chico, CA
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,560
Cap Rate 7%
$566,114
Cap Rate 9%
$440,311
Alternative Uses
Best Use
Healthcare Medical
$566.1K
$495.4K – $660.5K
NOI $39,628 @ 7.0% cap · market cap 7.00%
Second Best
Office B
$515.2K
$450.8K – $601.1K
NOI $36,067 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$688.1K
$602.1K – $802.8K
NOI $48,167 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,577
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95926, CA
41,259
Population
18,566
Households
2.2
Avg Household Size
31
Median Age
45%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
5,290
Density / Sq Mi
$62,334
Median Household Income
$27,870
Median Earnings
$1,418
Median Rent
$462,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased two-story medical office includes exam rooms, offices, reception, and on-site parking within a professional complex.
Where is this medical office space located?
The property is located at 2 Governors Ln Chico, CA.
What is the asking price?
The asking price for this property is $566,250.
What are key features of this property?
This property features: Fully leased two‑story medical office building totaling 3,408 SF on a 12,343 SF lot in Chico, CA; Medical layout includes four exam rooms, four private offices, reception and waiting room, and three large work areas; Additional interior features: five restrooms and a break room
