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Property profile & analytics
OFF-MARKET
Estimated value
$31,550,000
Warehouses
6631 Otto Rd Glendale, NY 11385-6543
Entity Owned
6-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-0771602
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1970
Total area
91,000 SF
Lot
2.84 ac (123,841 SF)
Zoning code
M1-1
APN
03667-0579
UPID
US63-0771602
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
$21.46M
Comparable Approach
Comparable
$29.67M
Blend (final)
Blend
$31.55M
Owner & transaction history
579 Otto Road LLC · 6 yrs held
579 Otto Road LLC
since 2020
Last sale
$39.8M
7 recorded transactions
Zoning & alternative use
M1-1 · Glendale, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$48.4M
+3.4%
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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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%
$23,240,000
6.5%
$21,455,000
7%
$19,920,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$46,845,000
Current use
INDUSTRIAL (GENERAL)
$48,415,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$31.55M
Range $28.40M – $34.71M · ±10% · vs last sale $39.83M (Oct 6 2020)
Last sale anchor
$39.83M
Oct 6 2020
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
$347 / 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
$268,490
Tax year 2024
Assessed value
$2,746,800
Assessed 2024
Previous assessed
$2,531,160
+8.5% YoY
Effective rate
9.77%
On assessed value
Assessed land
$1,112,400
Assessed improvement
$1,634,400
Land market value
$2,472,000
Improvement market value
$3,632,000
Total market value
$6,104,000
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
1970
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
91,000 SF
Lot
2.84 ac (123,841 SF)
Zoning code
M1-1
APN
03667-0579
UPID
US63-0771602
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · Glendale, NY
Zoning M1-1 · permitted uses
M1-1 · Glendale, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Glendale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$46.8M
INDUSTRIAL (GENERAL)
Est. value
$48.4M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
1970
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
2.84 ac
Current owner
From public records · entity-resolved
579 Otto Road LLC
Entity
Free & Clear · 6 yrs held
Mailing address
100 WILSHIRE BLVD STE #1400, SANTA MONICA, CA 90401-1196
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Mar 4, 2025
—
576-578 Otto Road LLC
—
Deed
related
$112,000,000 · Wells Fargo Bank, National Association
Jul 19, 2021
—
576-578 Otto Road LLC
—
Deed
related
$112,000,000 · Wells Fargo Bank, National Association
Jun 23, 2020
$40,000,000
579 Otto Road LLC
Otto Road Industrial LLC
Grant Deed
—
Feb 15, 2019
—
Otto Road Family LLC
Otto Road Family LLC
Quit Claim Deed
related
—
Feb 15, 2019
$36,000,000
Otto Road Industrial LLC
Otto Road Family LLC
Grant Deed
related
—
Jan 6, 2015
—
Otto Road Family LLC
Milbauer Risa Trust
Grant Deed
related
—
May 21, 2009
—
Eisenberg Family 1991 Trust
Otto Road Trust
Grant 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.
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