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    44430 Challenger Way Lancaster, CA 93535

    Sponsored
    For Sale
    $5,326,917

    High-yield CVS Pharmacy, NNN lease, strong tenant.

    Property size:
    15,251 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional investment opportunity presents a single-tenant, 15,251 square foot CVS Pharmacy located at 44430 Challenger Way, Lancaster, CA 93535. The property boasts a strong 9.2 years remaining on a net lease with a corporate guarantee from CVS, a tenant with a BBB credit rating from S&P. The lease commenced May 30, 2013, and expires January 31, 2034, featuring four, five-year renewal options with a 10% rent increase in the first option. The property generates a substantial net operating income (NOI) of $354,240, resulting in a compelling 6.65% cap rate. Situated on a 1.24-acre lot, this strategically located retail property benefits from high traffic counts exceeding 21,900 vehicles daily, and proximity to Edwards Air Force Base and numerous defense contractors, serving a rapidly growing population of 141,000 within a 5-mile radius. The property includes a drive-thru and enjoys limited competition, with the nearest CVS over 3 miles away. Further enhancing its value is the proximity to a new, 700,000 square foot Antelope Valley Hospital, slated to open in 2026. The asking price for this exceptional investment is $5,326,917. This is a 100% occupied, single-building property with no rent holidays.

    Property Features for 44430 Challenger Way

    General Information

    Property type
    Individual retail properties
    Square Feet
    15,251 SF
    Lot Size
    54,014 SF

    Building Details

    Buildings
    1

    HighLights

    • High‑traffic location: Single‑tenant CVS with drive‑thru, situated on a major retail thoroughfare (Avenue J) with over 21,900 vehicles daily.
    • Proximity to Edwards Air Force Base: Located near Edwards AFB and numerous defense contractors, employing over 10,000 personnel.
    • Investment‑grade tenant: CVS boasts a BBB S&P credit rating, demonstrating market stability.
    • Robust demographics: Serves a rapidly growing population exceeding 141,000 within a 5‑mile radius.
    • Minimal competition: Nearest competing CVS Pharmacy is over 3 miles away.
    • New development nearby: A new 700,000 sq. ft. Antelope Valley Hospital is under construction 3 miles from the property, slated for completion in 2026.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Photo Print Shop CDReload - Online Bitcoin ... Crypto Atm Redbox Movie Rental Kiosk UPS Access Point ... Shipping And Mailing Service CVS Cosmetics Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Los Angeles
    State
    California
    Longitude
    -118.1122479
    Latitude
    34.6904214

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    FAQs

    What type of property is this?
    Individual retail property - High-yield CVS Pharmacy, NNN lease, strong tenant.
    Where is this individual retail property located?
    The property is located at 44430 Challenger Way Lancaster, CA.
    What is the asking price?
    The asking price for this property is $5,326,917.
    What are key features of this property?
    This property features: High-traffic location: Single-tenant CVS with drive-thru, situated on a major retail thoroughfare (Avenue J) with over 21,900 vehicles daily.; Proximity to Edwards Air Force Base: Located near Edwards AFB and numerous defense contractors, employing over 10,000 personnel.; Investment-grade tenant: CVS boasts a BBB S&P credit rating, demonstrating market stability.
    Request Owner's contact information
    44430 Challenger Way Lancaster, CA 93535
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    Lancaster, CA 93535
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    Realmo Value Estimation

    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.

    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.

    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
    44430 Challenger Way Lancaster, CA 93535
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