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100% NNN Leased | HQ Office Building 500 W East Ave 7,726 SF Office Building Chico, CA 95926 $2,268,370 CAD ($293.60 CAD/SF) 6.28% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% NNN Leased to Long-Term Tenant
- Prominent Building with Upscale Finishes
- Close to retail and restaurants
- Fully owned solar panel system
- Close to main traffic arteries and Hwys 99 + 32
- Flex space design with upscale office and attached warehouse
EXECUTIVE SUMMARY
One of the most prominent office buildings in Chico, CA, 500 W. East Avenue, is now available for sale, newly leased to a long-term tenant. The well-known stately building features a sweeping two-story glass exterior and a recently remodeled interior. It is located on one of Chico’s main thoroughfares with excellent access to both Highways 99 and 32, in an area dominated by medical and professional office users as well as new multi-family development.
Rush Personnel Services, with three locations in Northern CA, has signed a 7-year NNN lease commencing November 1, 2025 following a more than 20-year tenancy at their previous HQ, providing stable income for investors seeking a quality, leased asset in a strong market.
The building contains approximately 4,150 square feet of two-story office space, including a waiting and reception area, multiple standard and executive offices, a conference room, break room, open workspace, storage, copy room, and back-office areas. Also included is an approximately 3,000 square foot attached conditioned warehouse space with roll-up door, dedicated AC units, gas heater, office space, storage rooms, and mezzanine space. Additional features include a second-floor patio off the conference room, a private garage with automatic door, and an 88-panel fully owned roof-mounted solar system.
With 28 parking spaces and excellent ongoing maintenance, this property is an ideal investment opportunity with a dependable tenant in place.
Rush Personnel Services, with three locations in Northern CA, has signed a 7-year NNN lease commencing November 1, 2025 following a more than 20-year tenancy at their previous HQ, providing stable income for investors seeking a quality, leased asset in a strong market.
The building contains approximately 4,150 square feet of two-story office space, including a waiting and reception area, multiple standard and executive offices, a conference room, break room, open workspace, storage, copy room, and back-office areas. Also included is an approximately 3,000 square foot attached conditioned warehouse space with roll-up door, dedicated AC units, gas heater, office space, storage rooms, and mezzanine space. Additional features include a second-floor patio off the conference room, a private garage with automatic door, and an 88-panel fully owned roof-mounted solar system.
With 28 parking spaces and excellent ongoing maintenance, this property is an ideal investment opportunity with a dependable tenant in place.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$142,384
|
$18.43
|
| Other Income |
$55,111
|
$7.13
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$197,495
|
$25.56
|
| Taxes |
$24,952
|
$3.23
|
| Operating Expenses |
$30,159
|
$3.90
|
| Total Expenses |
$55,111
|
$7.13
|
| Net Operating Income |
$142,384
|
$18.43
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $142,384 |
| Annual Per SF | $18.43 |
| Other Income (CAD) | |
|---|---|
| Annual | $55,111 |
| Annual Per SF | $7.13 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $197,495 |
| Annual Per SF | $25.56 |
| Taxes (CAD) | |
|---|---|
| Annual | $24,952 |
| Annual Per SF | $3.23 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $30,159 |
| Annual Per SF | $3.90 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $55,111 |
| Annual Per SF | $7.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $142,384 |
| Annual Per SF | $18.43 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
7,726 SF
Building Class
A
Year Built/Renovated
1989/2018
Price
$2,268,370 CAD
Price Per SF
$293.60 CAD
Cap Rate
6.28%
NOI
$142,384 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
3,863 SF
Building FAR
0.29
Lot Size
0.62 AC
Zoning
OR
Parking
28 Spaces (3.62 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Air Conditioning
- Balcony
- Fiber Optic Internet
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Rush Personnel Services
- Administrative and Support Services
- 7,726 SF
- $18.43 CAD
- Triple Net
- Oct 2032
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Rush Personnel Services | Administrative and Support Services | 7,726 SF | $18.43 CAD | Triple Net | Oct 2032 |
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PROPERTY TAXES
| Parcel Number | 042-450-089-000 | Total Assessment | $2,457,339 CAD |
| Land Assessment | $403,444 CAD | Annual Taxes | $24,952 CAD ($3.23 CAD/SF) |
| Improvements Assessment | $2,053,895 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
042-450-089-000
Land Assessment
$403,444 CAD
Improvements Assessment
$2,053,895 CAD
Total Assessment
$2,457,339 CAD
Annual Taxes
$24,952 CAD ($3.23 CAD/SF)
Tax Year
2025
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100% NNN Leased | HQ Office Building | 500 W East Ave
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