Investment Offering
Lancaster, CA - CVS Pharmacy
44430 Challenger Way | Lancaster, CA 93535
$7,380,000
Price4.8%
Cap Rate$354,240
NOI2000
Year Built15,251
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN leased, corporate signed, drive-thru equipped, CVS Pharmacy investment property located in Lancaster, California (Los Angeles County). The tenant has over 12 years remaining in their initial term with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease is signed by the corporate entity (S&P: BBB) and is NNN with landlord responsibilities limited to roof and structure, making it an ideal, low-management investment opportunity for a passive investor. CVS is the largest pharmacy chain in the United States with more than 9,900 stores across 49 states, the District of Columbia, and Puerto Rico.
Location
CVS Pharmacy is strategically located at the signalized, hard corner intersection of Avenue J and Challenger Way, averaging a combined 33,300 vehicles passing by daily. The building is equipped with a drive-thru pharmacy, providing ease and convenience for customers. The site is ideally situated as a co-anchor to Challenger Square, a popular neighborhood center that also features Dollar Tree and American Tire Depot. Located within a strong retail corridor, the asset is nearby to a variety of national/credit tenants including Walmart Supercenter, Stater Bros. Markets, Aldi, 7-Eleven, 99 Cents Only Stores, McDonald’s, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. In addition, the subject property is surrounded by several apartment complexes including Casa Bonita (213 units), Willow Creek Village (84 units), and Cedar Ridge (110 units), providing a direct residential consumer base from which to draw. The 5-mile trade area is supported by more than 137,000 residents and 46,000 daytime employees with an average household income of $70,000.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215