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44430 Challenger Way
Lancaster, CA 93535
CVS · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- This single-tenant CVS with Drive Thru is well located within a strong retail corridor off Avenue J with vehicles exceeding 21,900 per day.
- Rapidly growing population of 141,000 in a 5-mile radius
- CVS has a BBB credit rating from S&P, signaling stability in the Pharmacy market.
- State-of-the-art, 700,000 sq. ft. Antelope Valley Hospital is set to open just 3 miles from the site, with a projected completion date in 2026.
EXECUTIVE SUMMARY
The subject offering is the opportunity to acquire fee simple interest in a free standing CVS Pharmacy property, with a brand new 20 year corporate guaranteed lease. The freestanding building totals 15,251 SF situated upon approximately 54,014 SF (1.24 AC) of land located at the busy intersection of Challenger Way and East Avenue J in the City of Lancaster, County of Los Angeles.
The property is a part of Challenger Square Shopping Center which has maintained a high level of occupancy even during the current economic downturn. The recent opening
of Superior Grocers and 99 Cents Only across the street has further enhanced and strengthened the draw to the intersection and has magnified the prominence of the location as the retail hub for the surrounding neighborhoods. The site is supported by existing residential communities with potential for additional housing units.
The property is a part of Challenger Square Shopping Center which has maintained a high level of occupancy even during the current economic downturn. The recent opening
of Superior Grocers and 99 Cents Only across the street has further enhanced and strengthened the draw to the intersection and has magnified the prominence of the location as the retail hub for the surrounding neighborhoods. The site is supported by existing residential communities with potential for additional housing units.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
15,251 SF
Building Class
B
Year Built
2000
Price
$7,375,117 CAD
Price Per SF
$483.58 CAD
Cap Rate
6.65%
NOI
$490,409 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.24 AC
Zoning
CPD - Commercial Planned Development
Parking
45 Spaces (2.95 Spaces per 1,000 SF Leased)
Frontage
210’ on Challenger Way
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
PROPERTY TAXES
| Parcel Number | 3147-008-032 | Improvements Assessment | $3,615,230 CAD |
| Land Assessment | $4,622,331 CAD | Total Assessment | $8,237,561 CAD |
PROPERTY TAXES
Parcel Number
3147-008-032
Land Assessment
$4,622,331 CAD
Improvements Assessment
$3,615,230 CAD
Total Assessment
$8,237,561 CAD
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