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Property profile & analytics
OFF-MARKET
Estimated value
$52,275,000
Warehouses
5920 Borden Ave Maspeth, NY 11378-1107
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-5816393
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2021
Total area
136,084 SF
Lot
0.75 ac (32,607 SF)
Zoning code
M1-1
APN
02657-0050
UPID
US63-5816393
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$32.09M
Comparable Approach
Comparable
$49.26M
Blend (final)
Blend
$52.28M
Owner & transaction history
Gcp Securespace Property Holdings S · 1 yrs held
Gcp Securespace Property Holdings S
since 2024
Last sale
$63.0M
7 recorded transactions
Zoning & alternative use
M1-1 · Maspeth, NY
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 Maspeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Maspeth 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
$54,125,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$34,755,000
6.5%
$32,085,000
7%
$29,790,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$56,480,000
Current use
INDUSTRIAL (GENERAL)
$54,425,000
Change: -4% · Conversion: Easy
COMMERCIAL (GENERAL)
$49,415,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$52.28M
Range $47.05M – $57.50M · ±10% · vs last sale $62.96M (Sep 23 2022)
Last sale anchor
$62.96M
Sep 23 2022
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
$384 / 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
$718,719
Tax year 2024
Assessed value
$6,876,450
Assessed 2024
Previous assessed
$6,758,481
+1.7% YoY
Effective rate
10.45%
On assessed value
Assessed land
$1,093,500
Assessed improvement
$5,782,950
Land market value
$2,430,000
Improvement market value
$12,851,000
Total market value
$15,281,000
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
2021
Buildings
1
Stories
6
Units
1
Total area
136,084 SF
Lot
0.75 ac (32,607 SF)
Zoning code
M1-1
APN
02657-0050
UPID
US63-5816393
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Maspeth, NY
Zoning M1-1 · permitted uses
M1-1 · Maspeth, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Maspeth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$56.5M
INDUSTRIAL (GENERAL)
Est. value
$54.4M
COMMERCIAL (GENERAL)
Est. value
$49.4M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
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
2021
Stories
6
Buildings
1
Units
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
Gcp Securespace Property Holdings S
Entity
Mailing address
100 WILSHIRE BLVD STE #1400, SANTA MONICA, CA 90401-1196
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 13, 2026
—
59-02 Borden Ave, LLC
—
Deed
related
$44,550,000 · Citibank, N.a.
Nov 18, 2024
—
Gcp Securespace Property Holdings S
Gs Securespace Property Holdings LP
Deed
$44,216,627 · Citibank N.a.
Aug 16, 2024
—
59-02 Borden Ave LLC
—
Deed
related
$4,019,693 · Citibank N.a.
Mar 5, 2024
—
Goldman Sachs Bank USA
—
Deed
related
—
Nov 29, 2022
—
59 02 Borden Ave LLC
—
Deed
related
$23,967,751 · Goldman Sachs Bank USA
Sep 23, 2022
$62,956,819
Securespace Gs Borrower LLC
Securespace Holdings LLC
Deed
—
Apr 16, 2021
$18,000,000
59-02 Borden Ave, LLC
Home Depot U.s.a., INC.
Deed
$25,791,785 · Valley National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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