Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    42055 Challenger Way Lancaster, CA 93535

    Sponsored
    For Sale
    $799,000

    Land/Lot - Lancaster, CA

    Lot size:
    167,854.00 Acres
    Days on Market:
    351
    Last Refresh:
    Jan 26 at 12:06 pm

    Property Features for 42055 Challenger Way

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    LRHI*
    APN
    3126017021
    Exterior features
    Community Features Included: Storm Drains, Street Lights
    Lot size
    167,854.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Ruth Bridge
    Ruth Bridge

    The Global Equities Group (949) 306-2942

    Listing agent Ruth Bridge (714) 371-0132 License #01918207

    Listing date Feb 10, 2025

    MLS# OC25022333 Listing URL

    Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lancaster Industrial Land Opportunity

    This corner lot, situated in the industrial hub of Lancaster, encompasses almost 4 acres of heavy industrial M2 zoned land. It is suitable for commercial cannabis use with a conditional use permit, allowing for diverse development within the cannabis industry. Additional land uses include recycling industries, manufacturing, construction storage, and truck parking. The property features multiple access points for large trucks and already has water, electricity, and gas running to it. The property offers abundant water access with a set monthly cost for any amount of water used. Located in a growing industrial area, the property is close to local freeways and is in a secure and safe part of town, proximal to the airport, courthouse, and city hall. Its central location makes it a suitable area to start a distribution center for a multitude of larger cities. The lot size is approximately 3.85 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Realty agency Restaurant Law Firm Wholesale Shop Hair Salon Building Supply Clothing Store Gym & Fitness Hotel & Motel Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Los Angeles
    State
    California
    Longitude
    -118.112945
    Latitude
    34.646622

    Nearby Similar for Sale

    • $1,800,000
      7,612 SF

      Lancaster Mixed-Use Investment Opportunity

      Residential-commercial property near Lancaster Boulevard with multiple buildings and parking.
      44653 Date Ave, Lancaster, CA 93534
      View Details
    • $785,000
      Pending

      Updated Dual Home Opportunity

      Two updated homes on one lot in Quartz Hill!
      4741 Avenue L14 W, Lancaster, CA 93536
      View Details
    • $395,000
      1,993 SF

      Medical Suite Condo in Lancaster

      Medical suite condo near Antelope Valley Medical Center for sale.
      44725 W 10Th St, Lancaster, CA 93534
      View Details
    • $250,000
      2,526 SF

      Established Restaurant with Liquor License

      Fully equipped restaurant with banquet room and liquor license.
      1020 Avenue K E, Lancaster, CA 93535
      View Details
    • $199,000
      5,150 SF

      Lancaster Frozen Yogurt Business Opportunity

      Turnkey frozen yogurt business for sale in prime Lancaster location.
      44758 Valley Central Way, Lancaster, CA 93536
      View Details
    • $860,000
      6,565 SF

      Lancaster Commercial Building For Sale

      Commercial building on revitalized Lancaster Blvd, suitable for retail/office.
      656 W Lancaster Rd, Lancaster, CA 93534
      View Details
    • New
      $860,000
      6,565 SF

      Lancaster Mixed-Use Building For Sale

      Large commercial building in revitalized area with high visibility.
      656 W Lancaster Blvd, Lancaster, CA 93534
      View Details
    • $599,000
      352 SF

      Income Producing Lancaster Farm

      40 acre farm with established business and remodeled home.
      15035 Avenue G E, Lancaster, CA 93535
      View Details
    • $479,900
      2,290 SF

      Versatile Mixed-Use Property in Lancaster

      Mixed-use property in Lancaster's commercial/industrial district, suitable for various uses.
      113 Pillsbury St, Lancaster, CA 93534
      View Details
    • $479,900
      2,290 SF

      Lancaster Mixed-Use Commercial Opportunity

      Mixed-use property in Lancaster's commercial/industrial district with flexible space.
      113 Pillsbury St, Lancaster, CA 93534
      View Details
    • $899,000
      5,174 SF

      Renovated Office Building For Sale

      Completely renovated office building in Lancaster, suitable for owner or investor.
      44300 Division St, Lancaster, CA 93535
      View Details
    • New
      $950,000
      4,035 SF

      Lancaster Quadplex with Garage Parking

      Four-unit multifamily property with attached garages and in-unit laundry.
      44511 16Th St E, Lancaster, CA 93535
      View Details

    FAQs

    What type of property is this?
    Industrial land - Corner lot in Lancaster's industrial hub, suitable for cannabis use.
    Where is this industrial land located?
    The property is located at 42055 Challenger Way Lancaster, CA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: - M2 Heavy Industrial Zoning with Commercial Cannabis Use Potential (with permit); - Almost 4 Acre Corner Lot in Lancaster's Industrial Hub; - Existing Utilities: Water, Electricity, and Gas Connected
    (949) 306-2942
    Request Owner's contact information
    42055 Challenger Way Lancaster, CA 93535
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    42055 Challenger Way
    Lancaster, CA 93535
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    42055 Challenger Way Lancaster, CA 93535
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ruth Bridge
    Ruth Bridge
    Real Estate License ID: 01918207
    (949) 306-2942
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.