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Property profile & analytics
FOR LEASE
Warehouses
15 Boulden Cir New Castle, DE 19720
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US17-0129921
For Lease
1 / 2
$10,010,000
15 Boulden Cir, New Castle, DE 19720
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Construction
CONCRETE
Total area
101,789 SF
Lot
15.67 ac (682,585 SF)
Zoning code
I
APN
10-014.00-014
UPID
US17-0129921
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Fishisfast Freight Service Logistics Company
-
AMS Fulfillment (East) Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.20M
Comparable Approach
Comparable
$7.11M
Blend (final)
Blend
$10.01M
Owner & transaction history
Gki Industrial Philadelphia LLC · 4 yrs held
Gki Industrial Philadelphia LLC
since 2021
5 recorded transactions
Zoning & alternative use
I · New Castle, DE
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$13,215,000
6.5%
$12,195,000
7%
$11,325,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$13,985,000
Current use
Blend value · Realmo final
$10.01M
Range $9.01M – $11.01M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$98 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$127,945
Tax year 2024
Assessed value
$3,836,600
Assessed 2024
Previous assessed
$3,836,600
+0.0% YoY
Effective rate
3.33%
On assessed value
Assessed land
$458,500
Assessed improvement
$3,378,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1997
Construction
CONCRETE
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
101,789 SF
Lot
15.67 ac (682,585 SF)
Zoning code
I
APN
10-014.00-014
UPID
US17-0129921
Jurisdiction
NEW CASTLE
Metro division
WILMINGTON, DE-MD-NJ METROPOLITAN DIVISION
Zoning & alternative use
I · New Castle, DE
Zoning I · permitted uses
I · New Castle, DE
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$14.0M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1997
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
15.67 ac
Current owner
From public records · entity-resolved
Gki Industrial Philadelphia LLC
Entity
Mailing address
280 PARK AVE, NEW YORK, NY 10017-1274
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2025
—
Gki Industrial Philadelphia LLC
—
Deed
related
$100,000,000 · Morgan Stanley Mortgage Capital Holdings
Nov 29, 2021
—
Gki Industrial Philadelphia LLC
Gijv Del I LLC
Deed
$446,000,000 · Morgan Stanley Bank NA
Jul 3, 2018
—
Gijv Del 1 LLC
—
Grant Deed
related
$204,550,000 · Miscellaneous Ins Co
Oct 31, 2014
—
Gijv Del 1 LLC
Rreef America Reit II Corp
Grant Deed
$272,500 · German American Cap
Apr 21, 2004
$10
Rreef America Reit II Corp Aaa
Rreef America Reit II Portfolio
Warranty Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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