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Property profile & analytics
OFF-MARKET
Estimated value
$3,600,000
Warehouses
5109 2nd St, Long Island City, NY 11101-5809
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-3693318
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1931
Total area
3,950 SF
Lot
0.14 ac (6,000 SF)
Zoning code
M14R6B
APN
00015-0044
UPID
US63-3693318
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
-
LIC Best Mold Removal Hardware & Home Improvement Construction Company
-
Abax Inc Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.60M
Owner & transaction history
51-09 2nd Street LLC · 2 yrs held
51-09 2nd Street LLC
since 2024
Last sale
$3.6M
4 recorded transactions
Zoning & alternative use
M14R6B · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+147.8%
Retail stores
$2.3M
+107.5%
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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
$3,600,000
ML approach
$3,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,770,000
Change: +148% · Conversion: Easy
RETAIL STORES
$2,320,000
Change: +107% · Conversion: Moderate
Blend value · Realmo final
$3.60M
Range $3.24M – $3.96M · ±10% · vs last sale $3.60M (Mar 5 2024)
Last sale anchor
$3.60M
Mar 5 2024
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
$911 / 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
$17,893
Tax year 2024
Assessed value
$189,000
Assessed 2024
Previous assessed
$161,010
+17.4% YoY
Effective rate
9.47%
On assessed value
Assessed land
$104,400
Assessed improvement
$84,600
Land market value
$232,000
Improvement market value
$188,000
Total market value
$420,000
Applied tax rate
4.0000
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
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
2
Units
2
Total area
3,950 SF
Lot
0.14 ac (6,000 SF)
Zoning code
M14R6B
APN
00015-0044
UPID
US63-3693318
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M14R6B · Long Island City, NY
Zoning M14R6B · permitted uses
M14R6B · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.3M
AUTO REPAIR, GARAGE
RETAIL STORES
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
1931
Heating
NONE
Stories
2
Buildings
1
Units
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
51-09 2nd Street LLC
Entity
Free & Clear · 2 yrs held
Mailing address
11050 69TH AVE, FOREST HILLS, NY 11375-3916
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2025
—
51-09 2nd Street LLC
—
Deed
related
$1,173,597 · Midfirst Bank
Mar 5, 2024
$3,600,000
51-09 2nd Street LLC
Bleckman Holdings LLC
Deed
—
Mar 5, 2024
—
Bleckman Holdings LLC
51-09 Second Street Realty LLC
Deed
—
Mar 26, 2018
—
51-09 Second Street Realty LLC
51-09 2nd St Realty Corp
Quit Claim Deed
—
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.
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