Single-Tenant Veterinary NNN
548 W East Ave Chico, CA 95926
548 W East Ave, Chico, CA, 95926
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For Sale
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Passive NNN lease with corporate guaranty, featuring 3% annual increases and a feline-exclusive veterinary tenant.
Property Size4,135 SF
Price / SF$276.35
Days on Market112
Property Features for 548 W East Ave
General Information
- Standard status
- Active
- Size
- 4,135 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1998
Listing agency
Kidder Mathews Los Angeles West
Listed by
Daniel Solomon · License #CA 02105991
Source
Crexi
Added: Apr 2 Updated: Jul 21 at 5:29AM Checked: Jul 21 at 5:29AM
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 Kidder Mathews Los Angeles West
Investment Insights
Based on property information with market context.
This single-tenant veterinary property is 100% occupied by Chico Hospital for Cats, a feline-exclusive practice. The facility is purpose-built with specialized buildout for a specialized cat hospital use, supporting long-term operational continuity. The lease is structured as a passive NNN arrangement, designed to keep landlord responsibilities limited while maintaining stable cash flow.
The lease is backed by a corporate guaranty from Vetcor, an operator of community-based veterinary hospitals. Rent is currently $19.34/SF, with 3% annual rental increases that exceed typical market escalations. Vetcor exercised its option to extend the lease on September 1, 2025, demonstrating continued tenant commitment to the location.
In addition to the main building, the sale includes an adjacent parcel totaling 13,068 SF that the tenant uses for parking, enhancing the overall site functionality.
The lease is backed by a corporate guaranty from Vetcor, an operator of community-based veterinary hospitals. Rent is currently $19.34/SF, with 3% annual rental increases that exceed typical market escalations. Vetcor exercised its option to extend the lease on September 1, 2025, demonstrating continued tenant commitment to the location.
In addition to the main building, the sale includes an adjacent parcel totaling 13,068 SF that the tenant uses for parking, enhancing the overall site functionality.
Key Highlights
- Passive NNN lease structure with 100% occupancy by Chico Hospital for Cats, a feline‑exclusive veterinary tenant
- Lease has $19.34/SF current rent
- 3% annual rental increases provide inflation‑linked income growth
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.4k | $20.40 |
| − Vacancy | −$4.2k | −$1.02 |
| EGI | $80.1k | $19.38 |
| − OpEx | −$32.1k | −$7.75 |
| NOI | $48.1k | $11.63 |
4,135 SF · lease $20.40/SF/yr · vacancy 5.00% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$686.9K
$601.0K – $801.4K
NOI $48,082 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$834.9K
$730.5K – $974.0K
NOI $58,442 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Chico Hospital for Cats
Veterinary Clinic
Similar For Sale Nearby
FAQs
What type of property is this?
Medical center - Passive NNN lease with corporate guaranty, featuring 3% annual increases and a feline-exclusive veterinary tenant.
Where is this medical center located?
The property is located at 548 W East Ave Chico, CA.
What is the asking price?
The asking price for this property is $1,142,700.
What are key features of this property?
This property features: Passive NNN lease structure with 100% occupancy by Chico Hospital for Cats, a feline‑exclusive veterinary tenant; Lease has $19.34/SF current rent; 3% annual rental increases provide inflation‑linked income growth
