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Ripco Sells Former CVS Site At 172-21 46th Avenue Flushing For $7.5M
SOLD
$7,500,000
New York
See Similar DealsRetail24,032 SF
Sold 05/20/2025
SOLD
Ripco Sells Former CVS Site At 172-21 46th Avenue Flushing For $7.5M
172 21 46th Avenue
See Similar DealsRetail24,032 SF
Sold 05/20/2025
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$312
Total Square Footage:24,032 SF
Transaction Type:Sale
The property asset involved in the transaction is located at 172-21 46th Avenue in Flushing. It is a retail asset that sold for $7,500,000 and encompasses a total square footage of 24,032. The property features an area of over 13,000 square feet across two levels and includes parking for 26 vehicles.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,500,000
- Address: 172-21 46th Avenue
- Market: Flushing
- Square Footage: 24,032
- Price Per Square Foot: $312
- Brokers: Greg Batista & Michelle Abramov - Ripco
The deal was facilitated by Ripco Real Estate, where brokers Greg Batista and Michelle Abramov represented the transaction. They played a key role in the sale of the former CVS site in Flushing.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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