The former site of a CVS at 172-21 46th Ave. in Flushing was recently sold by the real estate firm RIPCO Real Estate for $7.5 million.
Situated on a lot that is 24,032 square feet, the site features a ground floor covering 8,879 square feet and a lower level spanning 4,487 square feet. The property also has two gated entrances and parking spaces for around 26 vehicles.
The CVS that once occupied 172-21 46th Ave. closed in July 2023. The site occupies a corner with more than 221 feet of wraparound frontage along 46th Avenue and Utopia Parkway. The ground floor’s ceilings are more than 15 feet high, while the lower level’s ceilings are nine feet high. There are also two restrooms at the property.
“We’re proud to have successfully completed the sale of this prime Flushing asset. The property’s unique block-through configuration, ample on-site parking and highly visible corner location make it an exceptional opportunity for a variety of end users—from grocery and medical to education and fitness,” RIPCO Real Estate Managing Director Michelle Abromov said. “We continue to see strong demand for well-located retail sites with flexible layouts in dense, transit-oriented neighborhoods like this one.”
Abromov, along with RIPCO Real Estate Vice President Greg Batista, led the transaction of 172-21 46th Ave., with Batista representing the seller. This sale marks the fifth drug store transaction by Abromov and Batista in the last 24 months. RIPCO Real Estate Executive Managing Director Peter Yoon represented the buyer of the property.
Some of the other tenants neighboring the property include Marino’s Supermarket, Super Joy, Taco Bell, Popeyes, Carvel, Mattress Firm, Bonchon and T-Mobile.
As of now, no information has been released regarding the future tenant or specific plans for the site. It remains unclear what type of business or organization will ultimately occupy the former CVS location, though the property’s layout makes it suitable for a range of uses, including grocery, medical, educational, fitness or childcare.
