CVS

44430 Challenger Way, Lancaster, CA
Deal Type:
Net Lease
Price:
$5,326,917
Cap Rate:
6.65%
Current Rent:
$354,240
Lease Type:
Triple Net
Landlord Responsibilities:
Roof and Structure
Lease Expiration Date:
Approx. 9+ years
Renewal Options:
4, 5-year options
Building Sq. Ft.:
15,251 SF
Rent Increases:
10% in first Option
Site Size:
1.24 Acres

Investment Highlights

  • Commitment: CVS executed a Long Term 20-year NNN Lease through January 2034 with more than 9 years remaining.
  • Well Positioned: 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.
  • Air Force Base: Near Edwards Air Force Base and various defense companies (Northrop Grumman, Clancy JG International, Machfinish, etc). The total number of people at Edwards Air Force Base in California is over 10,000, including military, federal civilian, and contract personnel.
  • Investment Grade Tenant: CVS has a BBB credit rating from S&P, signaling stability in the Pharmacy market.
  • Strong Demographics: Rapidly growing population of 141,000 in a 5-mile radius
  • Nearby Development: 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.

Listing Agents

Connor Shell

Managing Director
407 913 9009
[email protected]

Dorothy Lee, CCIM

Vice President
626 236 3823
[email protected]

Broker of Record: Connor Shell, Lic. #CA – #02054664

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