Freestanding Drive-Through
For Sale
$350,000
44431 Division Street, Lancaster, CA 93535
Commercial Sale, Lancaster, CA
Property Size768 SF
Lot Size0.24 Acres
Price / SF$455.73
Days on Market28
Property Features for 44431 Division Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
LRC3
Lot features
Corner Lot
Directions
Exit 14 Freeway on Avenue J, head east to Division St., north on Division to property. Property address is 44431 Division St, Lancaster, CA 93535.
Subdivision
03 - Lancaster West
Standard status
Active
APN
3138-010-060
Size
768 SF
Lot size
0.24 Acres
Utilities
Utilities
Natural Gas Available
Cooling system
Wall/Window Unit(s)
Building Details
Year built
1955
Floors in Building
1
Building materials
Block, Stucco, Brick Veneer
Roof type
Asphalt
Listing Agency:
RE/MAX All-Pro · RE/MAX International
(661) 945-9461
Listed By:
Kris Chaisson · License #02193637
(661) 917-8205
Added: Aug 12
Changed: Aug 19
Last Checked: Sep 8 at 7:06PM
MLS# 26006371
Copyright © 2026 Greater Antelope Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding commercial property includes a 768-square-foot building on a 0.24-acre parcel. Constructed in 1955, the building features block, stucco, and brick veneer construction, an asphalt roof, and wall/window cooling. Natural gas is available.
The property occupies the corner of Division Street and Pondera Street, north of Avenue J, in Lancaster. Parking is provided on the property and along the street. Zoning is LRC3, and the existing improvements may support adaptation for a drive-through restaurant, coffee shop, retail storefront, office, or other commercial concept as permitted.
The property occupies the corner of Division Street and Pondera Street, north of Avenue J, in Lancaster. Parking is provided on the property and along the street. Zoning is LRC3, and the existing improvements may support adaptation for a drive-through restaurant, coffee shop, retail storefront, office, or other commercial concept as permitted.
Key Highlights
- 768‑square‑foot building on a 0.24‑acre parcel
- Corner location at Division Street and Pondera Street, north of Avenue J
- LRC3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,370
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,400
$287.4K
Cap Rate 7%
$205,286
$205.3K
Cap Rate 9%
$159,667
$159.7K
Market Conditions
NOI Build-Up for 768 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$20.3K $26.40/SF
− Vacancy
−$1.1K −$1.45/SF
EGI
$19.2K $24.95/SF
− OpEx
−$4.8K −$6.24/SF
NOI
$14.4K $18.71/SF
Area
Lancaster, CA
Vacancy
5.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$287,400
Cap Rate 7%
$205,286
Cap Rate 9%
$159,667
Alternative Uses
Best Use
Specialty Retail
$205.3K
$179.6K – $239.5K
NOI $14,370 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$241.2K
$211.1K – $281.5K
NOI $16,887 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
943
Businesses Nearby
Explore this area
Business Placement
Demographics for 93535, CA
82,149
Population
23,917
Households
3.4
Avg Household Size
31
Median Age
14%
College-Educated
78%
High-School Grad
239.0 sq mi
ZIP Area
344
Density / Sq Mi
$65,989
Median Household Income
$41,834
Median Earnings
$1,650
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Compact commercial building on a paved corner parcel with on-site and street parking.
Where is this drive through restaurant located?
The property is located at 44431 Division Street Lancaster, CA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 768‑square‑foot building on a 0.24‑acre parcel; Corner location at Division Street and Pondera Street, north of Avenue J; LRC3 zoning
