44430 Challenger WayLancaster, CA 93535

Property Details for 44430 Challenger Way

Year built

2000

Construction

WOOD

Lot size

1.24 AC

Property size (Sq ft)

15,126 SF

Zone code

LRC3*

Property type

Retail properties

Property subtype

Retail space

APN

3147-008-032

APU

3147008032

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,038,274

  6.5%

  $6,496,868

  7%

  $6,032,806

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,248,428

  Geo Method

  $7,248,428

• Alternative Use

  Use

  Valuation

  Residential

  $5,480,352

  Hospitality

  $5,019,972

  Educational

  $4,176,558

  Medical

  $4,320,196

  Retail

  $6,496,868

Location Insight

City

Lancaster

County

Los Angeles

State

California

Latitude

34.6904

Longitude

-118.112

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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