Quadplex with Laundry Room and Electric
For Sale
$1,075,000
3735 NW 116th Ter, Coral Springs, FL 33065
MULTI_FAMILY - Other - Coral Springs, FL
Property Size3,659 SF
Price / SF$293.80
Days on Market23
Property Features for 3735 NW 116th Ter
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM-15
Bedrooms
8
Full bathrooms
8
Rooms
Bedroom 3, Bathroom 7, Bedroom 7, Bedroom 4, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 8, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 8, Bedroom 1, Bedroom 2, Bathroom 2
Parking
8
Subdivision
CASTLEWOOD
Lot features
< 1/4 Acre
Standard status
Active
APN
484117060620
Size
3,659 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
CASTLEWOOD 71-37 B LOT 13 BLK E
Tax Annual Amount
19868
Legal Description
CASTLEWOOD 71-37 B LOT 13 BLK E
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
laundry room
Building Details
Year built
1974
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Architectural style
Other
Listing Agency:
Avanti Way Realty LLC
(305) 229-1146
Listed By:
Juan Patino · License #3230495
(305) 332-6452
Added: Jul 21
Changed: Aug 12
Last Checked: Aug 12 at 2:06PM
MLS# A12057114
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex is presented as a fully occupied, income-producing property with stable, established tenants. The building is constructed of block and finished with ceramic tile flooring. Heating and cooling are electric, and the roof is shingle.
The property is connected to public water and public sewer. Cable is available. The unit layout includes multiple bedrooms and bathrooms, and there is a laundry room on site for tenant convenience. The listing also notes no HOA restrictions, providing flexibility for investor ownership.
Built in 1974, this quadplex is offered as a buy-and-hold opportunity within the Coral Springs master-planned community, where the remarks describe strong long-term rental demand.
The property is connected to public water and public sewer. Cable is available. The unit layout includes multiple bedrooms and bathrooms, and there is a laundry room on site for tenant convenience. The listing also notes no HOA restrictions, providing flexibility for investor ownership.
Built in 1974, this quadplex is offered as a buy-and-hold opportunity within the Coral Springs master-planned community, where the remarks describe strong long-term rental demand.
Key Highlights
- Fully occupied quadplex with stable, established tenants
- Block construction with ceramic tile flooring
- Laundry room on site for tenant convenience
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,260
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,265,200
$1.3M
Cap Rate 7%
$903,714
$903.7K
Cap Rate 9%
$702,889
$702.9K
Market Conditions
NOI Build-Up for 3,659 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.4K $25.80/SF
− Vacancy
−$4.0K −$1.10/SF
EGI
$90.4K $24.70/SF
− OpEx
−$27.1K −$7.41/SF
NOI
$63.3K $17.29/SF
Area
Coral Springs, FL
Vacancy
4.27%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,265,200
Cap Rate 7%
$903,714
Cap Rate 9%
$702,889
Alternative Uses
Best Use
Multifamily LT 5
$903.7K
$790.8K – $1.05M
NOI $63,260 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$833.6K
$729.4K – $972.5K
NOI $58,349 @ 7.0% cap · market cap 5.43%
Theoretical Best
Specialty Retail
$6.24M
$5.46M – $7.28M
NOI $436,776 @ 7.0% cap · market cap 40.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 33065, FL
59,668
Population
21,416
Households
2.8
Avg Household Size
36
Median Age
31%
College-Educated
93%
High-School Grad
8.6 sq mi
ZIP Area
6,938
Density / Sq Mi
$70,435
Median Household Income
$36,255
Median Earnings
$1,833
Median Rent
$416,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with a dedicated laundry room, ceramic tile interiors, and electric heating and cooling across a block-built structure.
Where is this quadplex located?
The property is located at 3735 NW 116th Ter Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Fully occupied quadplex with stable, established tenants; Block construction with ceramic tile flooring; Laundry room on site for tenant convenience
