Coral Springs Multifamily Investment
For Sale
$1,790,000
10201 NW 35th St, Coral Springs, FL 33065
Well-maintained six-unit multifamily property in a prime Coral Springs location.
Property Size5,387 SF
Lot Size0.34 Acres
Days on Market140
Property Features for 10201 NW 35th St
General Information
Standard status
Active
Size
5,387 SF
Lot size
0.34 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$23,930
Building Details
Building Size
5,387 SF
Year Built
1986
Units
3
Listing Agency:
Fidelity Real Estate Group LLC
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Source:
Elliman
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 10 at 9:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fidelity Real Estate Group LLC
Investment Insights
Based on property information with market context.
This multifamily property, situated on an oversized corner lot spanning 14,866 square feet in Coral Springs, features six units. The unit mix includes two 3-bed 2-bath units, two 2-bed 2-bath units, and two 1-bed 1.5-bath units. Most units have been updated in recent years with modern kitchens and updated flooring. The building features a 2007 roof, hurricane impact windows and doors, and central A/C. The current gross rent is $127,800. Annual expenses total $36,320, including taxes of $23,930, lawn maintenance of $1,200, insurance (excluding wind) of $5,250, water of $5,400, and house electric of $540, with trash included in taxes. The property is located in a prime Coral Springs location and offers value-add potential. The bike score is 69, indicating it is bikeable. The walk score is 73, indicating it is very walkable. The transit score is 33, indicating some transit options are available.
Key Highlights
- Prime Coral Springs location with value‑add potential.
- Excellent unit mix: two 3‑bed 2‑bath, two 2‑bed 2‑bath, and two 1‑bed 1.5 bath.
- Below‑market rents offer significant upside.
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
$85,904
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
4.80%
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%
$1,718,080
$1.7M
Cap Rate 7%
$1,227,200
$1.2M
Cap Rate 9%
$954,489
$954.5K
Market Conditions
NOI Build-Up for 5,387 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
$163.5K $30.36/SF
− Vacancy
−$7.4K −$1.37/SF
EGI
$156.2K $28.99/SF
− OpEx
−$70.3K −$13.05/SF
NOI
$85.9K $15.95/SF
Area
Coral Springs, FL
Vacancy
4.50%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,718,080
Cap Rate 7%
$1,227,200
Cap Rate 9%
$954,489
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,904 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.19M
$8.04M – $10.72M
NOI $643,047 @ 7.0% cap · market cap 35.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,390
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained six-unit multifamily property in a prime Coral Springs location.
Where is this apartment building located?
The property is located at 10201 NW 35th St Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Prime Coral Springs location with value‑add potential.; Excellent unit mix: two 3‑bed 2‑bath, two 2‑bed 2‑bath, and two 1‑bed 1.5 bath.; Below‑market rents offer significant upside.
