Investment Overview

Marcus & Millichap is pleased to present 1700 Esplanade in Chico, California, a fully leased, single-tenant medical office investment located just one block from Enloe Health Medical Center. The 10,000-square-foot building sits on a 0.58-acre lot and was originally constructed in 1966 before undergoing a complete renovation in 2020, delivering a modern, high-quality healthcare facility. The property is 100% occupied by Valor Oncology, a community-focused cancer treatment provider specializing in radiation oncology and comprehensive cancer care, with multiple locations across Northern and Southern California, and also serves as the company’s corporate headquarters. The tenant operates under an absolute-net lease structure, providing for zero landlord responsibilities, and the lease is further strengthened by a physician group guarantee. There are approximately 4.75 years remaining on the current term, with three additional five-year renewal options that include 10% rental increases at each option, offering attractive long-term income growth. The Chico facility is equipped with advanced radiation treatment modalities, including Intensity-Modulated Radiation Therapy (IMRT), Image-Guided Radiation Therapy (IGRT), Stereotactic Radiosurgery (SRS), Stereotactic Body Radiation Therapy (SBRT), Electron Therapy, 3D Conformal Radiation Therapy, and an Elekta Versa HD system, allowing for highly precise treatment while minimizing exposure to surrounding healthy tissue. The center is staffed by experienced physicians and specialists who focus on personalized treatment planning, efficient access to care, and the use of modern technology to enhance both clinical outcomes and the overall patient experience. Strategically positioned along Esplanade, one of Chico’s primary arterial corridors, the property benefits from strong visibility, steady traffic counts, and excellent access to State Route 99. Being close to the major Enloe hospital and many other prominent healthcare facilities, major retail amenities, and California State University, Chico, the location offers strong connectivity and access to key demand drivers throughout the region. This offering presents investors with the opportunity to acquire a stabilized medical asset with durable tenancy, passive ownership structure, and a highly specialized oncology practice in a well-established healthcare corridor.