44430 Challenger Way Lancaster, CA 93535
Property Lookup
Property profile & analytics
44430 Challenger Way Lancaster, CA 93535
- Retail space
- 15,126 SF
- 1.24 lot acres
Property ID
US09-9151790
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- CVS Photo / (Bike/Boat/Book/etc) Store / Printing Service
- CDReload - Online Bitcoin ATM / Atm / Currency Exchange Service
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- UPS Access Point location / Courier Service / Postal Service
- CVS / Cosmetic Store
Property Details for 44430 Challenger Way
- Year built
- 2000
- Construction
- WOOD
- Lot size
- 1.24 lot acres
- Property size
- 15,126 SF
- Zone code
- LRC3*
- Property type
- 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.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,180,000
- 6.5%
- $3,860,000
- 7%
- $3,585,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,561,000
- AI Estimate
- $2,192,000
Market price range: $1.46M - $3.56MMarket price range: $585k - $2.19M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,405,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $5,055,000 Change: +110% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $4,675,000 Change: +94% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $4,160,000 Change: +73% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $4,150,000 Change: +72% Conversion: Difficult
- OFFICE BUILDING
- $3,395,000 Change: +41% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Los Angeles
- State
- California
- Longitude
- -118.112
- Latitude
- 34.6904
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$75,329
$3,226,900
$2,523,832
$5,750,732
-
$0.00
$0.00
$0.00
