Listing Agency: RIPCO Real Estate

Listed By: Stephen R. Preuss · License #NY Show Phone

Source: Crexi

Added: Apr 12 Changed: Aug 31 Last Checked: Sep 3 at 7:42AM

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Investment Insights

Based on property information with market context.

This offering is a two-unit retail condo located on the ground floor and lower-level portion of The Rowan, a luxury mixed-use development in Astoria, Queens. Retail Unit A is occupied by Lincoln Market and includes space across the ground floor, cellar, and subcellar levels. Retail Unit B is leased to Northwell Health, occupying ground-floor space.

Both retail units are currently in the build-out phase and are expected to open for business by 2023. Northwell Health executed a 12-year lease with two option periods. The Rowan includes 46 residential condos, which have all been sold.

The building also provides a contactless automated parking system that can be accessed by apartment owners and retail patrons, offering an additional convenience for visitors to the retail component.

Key Highlights

• Two‑unit retail condo on the ground floor and lower level of The Rowan mixed‑use development in Astoria, Queens
• Retail A is fully leased to Lincoln Market with 16,750 SF across ground floor, cellar, and subcellar spaces
• Retail B is leased to Northwell Health with 8,511 SF of ground floor space and a 12‑year lease with two option periods

Property Analytics

Current Use

Northwell Health Physician ... Physician Lincoln Market Astoria Specialty Food Shop Noel A Armenakas, MD Physician Northwell Health Medical Clinic Sabrina Sawhney, MD Physician

Suggested Use

Top Pick Law Firm Parking Lot & Garage Acupuncture Cosmetic Store (Bike/Boat/Book/etc) Store Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,590

Businesses Nearby

199k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 43% Shops & Services 38% Groceries 15% Home Improvements & Furnishings 3%

Lidl Groceries

29,153 visits/mo 0.3 miles

McDonald's Dining

25,800 visits/mo 0.4 miles

IHOP Dining

20,787 visits/mo 0.3 miles

Paris Baguette Dining

17,715 visits/mo 0.3 miles

Dollar Tree Shops & Services

17,460 visits/mo 0.4 miles

Demographics for 11105, NY

38,001

Population

17,518

Households

2.2

Avg Household Size

37

Median Age

55%

College-Educated

91%

High-School Grad

1.6 sq mi

ZIP Area

23,751

Density / Sq Mi

$100,306

Median Household Income

$62,464

Median Earnings

$2,211

Median Rent

$1,089,000

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Titan Foods — 2556 31st St, Queens, NY 11102
• Berry Fresh Farms Supermarket — 43-26 Ditmars Blvd, Astoria, NY 11105
• Trade Fair Supermarket — 37-11 Ditmars Blvd, Queens, NY 11105
• Lincoln Market Astoria — 21-21 31st St, Astoria, NY 11105

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Two ground-floor retail units within The Rowan, including a supermarket and leased space for Northwell Health.

Where is this grocery and convenience store located?

The property is located at 21-21 31st St Queens, NY.

What are key features of this property?

This property features: Two‑unit retail condo on the ground floor and lower level of The Rowan mixed‑use development in Astoria, Queens; Retail A is fully leased to Lincoln Market with 16,750 SF across ground floor, cellar, and subcellar spaces; Retail B is leased to Northwell Health with 8,511 SF of ground floor space and a 12‑year lease with two option periods