• Longstanding Central Valley Staple – Serving a Broad Regional Client Base: Tulare Veterinary Hospital is a trusted, established provider of companion animal care serving Tulare, Visalia, Hanford, Porterville, and Delano, CA. The hospital benefits from a loyal, multi-city client base and strong regional brand recognition, positioning it as a key veterinary provider across the greater Central Valley corridor. • 6.50% Cap Rate – Attractive Basis at $344.37/SF: Offered at a 6.50% capitalization rate, this investment provides a strong risk-adjusted return for a corporate-backed veterinary asset in California. Priced at $344.37 per square foot, the offering represents a compelling entry basis relative to replacement cost and medical buildout value. • Recent June 2, 2025 Practice Acquisition: Tulare Veterinary Hospital was acquired by Associated Veterinary Partners on June 2, 2025, reflecting a fresh strategic commitment to the location and long-term operational outlook. • Low Rental Rate/SF: The lease at $22.38 per square foot is well below market rates for comparable veterinary hospitals in the state. This reduces tenant turnover risk and enhances long term tenant stability at this location. • 3% Annual Rent Increases: The lease features 3% annual rental increases, providing steady organic NOI growth & an inflation hedge over the hold period. • NNN Lease Structure: Structured as a NNN lease, the investment offers a passive ownership profile with the tenant responsible for taxes, insurance, & maintenance, resulting in predictable cash flow & minimal landlord responsibilities. • Medical-Grade Buildout – Significant Tenant Investment: The facility includes medical-grade plumbing and in-wall oxygen infrastructure, along with PROPERTY & LEASE HIGHLIGHTS NEED NEW PHOTO surgical suites, treatment areas, and specialized veterinary improvements. This substantial tenant buildout creates high barriers to relocation and reinforces long-term site commitment. • Brand New Roof (2025): The roof was fully replaced in 2025, significantly reducing near-term capital expenditure risk and enhancing overall property condition. • Potential Value-Add/Development Upside on 1.12-Acre Lot: Situated on a sizable 48,787 SF (1.12-acre) parcel, the property offers meaningful longterm optionality. Buyer to verify, but the lot configuration may allow for the construction of an additional ±4,000 SF building, presenting future expansion, redevelopment, or additional income potential — a rare valueadd component for a stabilized, corporate-backed veterinary NNN asset in California. The surplus land provides flexibility that is increasingly difficult to find in stabilized healthcare investments. • High Barriers to Relocation: Veterinary hospitals require extensive & costly infrastructure, including surgical suites, imaging, dental stations, plumbing systems, & oxygen lines. Combined with established client habits & geographic convenience, these factors strongly incentivize long-term tenancy. • Recession-Resilient Medical Use: Veterinary services are considered essential and non-discretionary, driven by recurring wellness visits, diagnostics, procedures, and preventative care — historically demonstrating resilience across economic cycles. • Strong Presence Along N Blackstone Street: The property benefits from frontage on N Blackstone Street, a primary commercial corridor in Tulare, offering strong visibility and convenient access