The lucky numbers drawn on Saturday night were 20-26-32-38-58, and the Powerball number was 3.
The odds of winning Saturday's grand prize are roughly 1 in 292 million.
Lottery officials said one winning ticket was sold in Riverside County, though it's not clear if more than one ticket matched all five numbers plus the Powerball.
The liquor store that sold the ticket will receive a $1 million "retailer bonus".
According to Powerball spokesman Andy Miller, the $448 million figure is based on the victor choosing an annuity that is paid out over the course of 29 years.
The victor could take 29-year payout or a one-time, before-tax lump sum of $279.1 million.
The owner of the California deli that sold the sole jackpot winning Powerball ticket on Saturday calls the win "unbelievable". Both amounts do not figure in a deduction for taxes.
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Alberre's father, who co-owns the store, suffers from pulmonary fibrosis.
"It's a very good feeling to be the winning store", Matthew Alberre told NBC News on Sunday, adding that they feel "blessed" for playing a role in the win.
Alberre says the store just off a highway caters to retirees who live in Sun City and motorists who are passing through.
Alberre said it was the third ticket sold at the store worth over $1 million, and by far the largest.
Powerball is played in 44 states, plus Washington, DC; Puerto Rico and the US Virgin Islands.
Menifee has about 89,000 residents.
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