Looking to buy a VCA Animal Hospitals NNN property? 6 are observed for sale across 6 states, median asking cap rate 6.88%. View VCA Animal Hospitals NNN properties for sale, cap rate bands and the 1031 buyer guide.
| Metric | Details |
|---|---|
| Entity / Legal Name | VCA, Inc. (d/b/a VCA Animal Hospitals) |
| Parent Company | Mars, Incorporated (family-owned) |
| S&P Rating (Mars Parent) | A |
| All Ratings and Outlooks | S&P: A |
| Investment Grade Status | Parent Rated Investment Grade (Mars Inc.); confirm the lease guarantor |
| Sector | Healthcare / Veterinary Services |
| Headquarters | Los Angeles, California (Mars HQ: McLean, Virginia) |
| Hospital Network | VCA animal hospitals in the U.S. and VCA Canada hospitals in Canada (company websites); confirm the format of each property |
| Annual Revenue | Not publicly reported (private Mars subsidiary since 2017) |
| Mars Inc Revenue | 2023 net sales of more than $50 billion (Mars and Kellanova joint release, August 14, 2024); Mars completed its Kellanova acquisition on December 11, 2025 |
| Median asking cap rate | See the live table below |
| Typical Lease Term | Varies; confirm term and NNN or NN structure on each lease |
| Guarantee Type | Varies; confirm the tenant and any guarantor (for example VCA, Inc. or a VCA operating entity) in the lease; do not assume a Mars guarantee |
| Typical Building Size | Varies from general practice clinics to large specialty and emergency hospitals |
VCA Animal Hospitals Business Overview & NNN Investment Profile
VCA Animal Hospitals operates animal hospitals in the U.S., and VCA Canada operates a network of veterinary hospitals in Canada. Founded in 1986 and formerly publicly traded on NASDAQ under the ticker “WOOF,” VCA was acquired by Mars, Incorporated in 2017 in a transaction valued at about $9.1 billion, including $1.4 billion of debt. VCA is now part of the pet care business of family-owned Mars, Incorporated, which also includes Banfield Pet Hospital (more than 1,000 hospitals in the U.S. and Puerto Rico, according to Banfield) and BluePearl.
For NNN investors, the credit chain behind a VCA lease needs care. We found no public credit rating for VCA, Inc. itself. Its parent, Mars, Incorporated, a privately held family company that reported 2023 net sales of more than $50 billion and completed its acquisition of Kellanova on December 11, 2025, is rated S&P A. A VCA, Inc. guarantee is a subsidiary obligation, not a Mars guarantee, so Mars’s rating supports a VCA lease only if Mars or a rated Mars entity signs or guarantees it.
VCA’s parent, Mars, Incorporated, carries an S&P A rating, which is investment grade; we found no rating for VCA itself. Mars is a family-owned global company that reported 2023 net sales of more than $50 billion, with businesses spanning pet care (Pedigree, Whiskas, Royal Canin), confectionery (M&M’s, Snickers, Mars bars), food (Ben’s Original) and, since December 2025, Kellanova’s snack brands. Its pet care brands also include VCA, Banfield and BluePearl. Mars has owned VCA since 2017.
Why Investors Consider VCA Animal Hospitals NNN Properties
Surgery, emergency care and other hands-on veterinary treatment are delivered in person at the hospital.
VCA properties range from general practice clinics to large specialty and emergency hospitals. Lease terms, rent increases and NNN or NN structure vary by property. Confirm which entity signs or guarantees each lease; a Mars guarantee should not be assumed. Smaller clinic buildings may suit other medical, veterinary or personal services users; check local demand and zoning for the specific property.
Cap Rate Analysis & Pricing for VCA Animal Hospitals NNN Properties
Live asking cap rates for VCA Animal Hospitals and comparable tenants:
| Tenant | S&P / Moody’s | Median asking cap rate | Middle half of listings | Listings | Median vs. 10-year Treasury |
|---|---|---|---|---|---|
| Aspen Dental | B- / n/a | 6.25% | 5.83% to 6.35% | 11 | +101 bps |
| CVS | BBB / Baa3 | 6.50% | 6.00% to 7.15% | 149 | +126 bps |
| Concentra | BB / n/a | 6.57% | 6.26% to 6.85% | 6 | +133 bps |
| VCA Animal Hospitals (rated entity: Mars Inc.) | A / n/a | 6.88% | 6.63% to 7.59% | 6 | +164 bps |
Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 12, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file.
Asking cap rates vary with lease structure, building age, remaining term and location. Unless Mars or a rated Mars entity signs or guarantees the lease, the rent obligation rests on the VCA entity, not on the credit of Mars, whose investment grade rating is shown above.
Prices vary widely with building size, location and remaining lease term.
| Comparable Healthcare NNN Tenant | S&P / Moody’s |
|---|---|
| Concentra | BB |
| CVS Health | BBB/Baa3 |
| Aspen Dental | B- |
Not on its own. We found no public credit rating for VCA, Inc. Its parent, Mars, Incorporated, is rated S&P A, which is investment grade, but that rating applies to a VCA lease only if Mars or a rated Mars entity signs or guarantees it. Leases guaranteed only by VCA, Inc. rely on VCA’s own credit, for which we found no public rating.
What are asking cap rates for VCA Animal Hospitals NNN properties?
Current median asking cap rates for VCA Animal Hospitals and comparable tenants are shown in the live table on this page. Pricing for a specific property depends on the remaining lease term, rent level, location and lease guarantor, and asking cap rates are not closed-sale cap rates.
VCA Animal Hospitals Net Lease Property: Buying, Selling and Financing
Buying: We find on-market and off-market VCA Animal Hospitals properties, review the lease and the tenant’s credit, and compare pricing with current listings. On the majority of transactions, there is no separate fee to you as the buyer; the listing broker pays a cooperating commission.
Selling: We can prepare an opinion of value from current listings and recent sales and, when it fits your goals, run a confidential sale to private investors, family offices and institutional buyers. See our guide to off-market sales.
Financing: Investment Grade Capital, a service of Investment Grade LLC, matches buyers and owners with lenders for acquisitions and refinancing.
1031 exchanges: Tell us your identification and closing deadlines so we can plan the search around them.
Request an NNN investment consultation or email team@investmentgrade.com.
Related NNN Tenants
- Ascension
- Aspen Dental
- Athletico
- BioLife Plasma
- Concentra
- Corewell Health
- CSL Plasma
- DaVita Dialysis
- EyeCare Partners
- Fresenius
- Grifols
- Henry Ford Health
- HCA Healthcare
- Heartland Dental
- Mary Washington Healthcare
- McLaren Health Care
- Oak Street Health
- Piedmont Healthcare
- Sparrow Health
- Trinity Health
- U of M Health
- University of Pittsburgh Medical Center (UPMC)
- Acadia Healthcare
- AFC Urgent Care
- ATI Physical Therapy
- CityMD / Summit Health
- Encompass Health
- Fast Pace Urgent Care
- MedExpress Urgent Care
- MyEyeDr
- NextCare Urgent Care
- Octapharma Plasma
- Pacific Dental Services
- Select Physical Therapy
- Smile Brands
- WellNow Urgent Care
- Banfield Pet Hospital
- Labcorp
- National Vision
- Quest Diagnostics
Compare VCA Animal Hospitals before paying up for veterinary demand
Veterinary demand can be resilient, but VCA NNN underwriting still comes down to guaranty quality, lease term, rent coverage, clinic economics, and the alternate-use value of the real estate. A 1031 buyer should compare the credit-adjusted cap rate against stronger tenant options.
Use the 2026 NNN cap-rate framework and compare stronger replacement-property candidates in Best Investment Grade NNN Tenants for a 1031 Exchange.
VCA Animal Hospitals NNN Properties Observed For Sale
6 active VCA Animal Hospitals net lease listings observed across public listing sources, most recently Oct 9, 2026. Asking figures as published by the listing party.
| Location | Asking Price | Cap Rate | Building SF | Term Left | |
|---|---|---|---|---|---|
| Bedford, NH | $3,375,000 | 6.50% | 7,250 | n/a | View listing |
| Athol, MA | $955,000 | 7.79% | 2,430 | n/a | View listing |
| Andover, MN | $1,850,000 | 6.59% | 8,023 | n/a | View listing |
| Fredericksburg, VA | $2,543,200 | 6.75% | 6,390 | n/a | View listing |
| Hauppauge, NY | $1,300,000 | 13.39% | 5,300 | n/a | View listing |
| San Antonio, TX | $1,238,570 | 7.00% | 3,198 | n/a | View listing |
Search all 6 observed VCA Animal Hospitals listings and the full NNN inventory
Market observations aggregated from listing broker materials; not offerings by Investment Grade Income Property, LP. Buyer representation available on a cooperating commission basis. Information deemed reliable but not guaranteed.
