6-Unit Apartment Building on Corner
For Sale
$1,790,000
10201 NW 35th Street, Coral Springs, FL 33065
MULTI_FAMILY - Coral Springs, FL
Property Size5,387 SF
Lot Size0.34 Acres
Price / SF$332.28
Days on Market193
Property Features for 10201 NW 35th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-20
Bedrooms
6
Full bathrooms
5
Half bathrooms
5
Rooms
Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 6, Bathroom 8, Bathroom 4, Bathroom 7, Bathroom 10, Bedroom 1, Bathroom 2, Bathroom 9, Bathroom 5
Pets allowed
No
Subdivision
CORAL SPRINGS LAKES
Standard status
Active
APN
484116061470
Size
5,387 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL SPRINGS LAKES 68-12 B LOT 20 BLK G
Tax Annual Amount
23930
Legal Description
CORAL SPRINGS LAKES 68-12 B LOT 20 BLK G
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
2
Number of units
3
Flooring type
Tile
Building materials
Block
Roof type
Barrel
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Jan 26
Changed: Aug 5
Last Checked: Aug 7 at 1:06AM
MLS# F10548525
Copyright © 2026 BeachesMLS. 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.
Well-maintained 6-unit apartment building constructed with block and finished with tile flooring. The property was built in 1986 and offers a practical unit mix of two 3-bed 2-bath, two 2-bed 2-bath, and two 1-bed 1.5-bath homes. Most units have been updated over the last few years with modern kitchens and updated flooring.
Building improvements include a 2007 roof, hurricane impact windows and doors, and central A/C. The property sits on an oversized corner lot spanning 14,866 SF and is served by public sewer, with cable available.
Zoned RM-20, this multifamily asset is configured for income-producing use and provides a straightforward platform for stabilized operations and continued interior updates.
Building improvements include a 2007 roof, hurricane impact windows and doors, and central A/C. The property sits on an oversized corner lot spanning 14,866 SF and is served by public sewer, with cable available.
Zoned RM-20, this multifamily asset is configured for income-producing use and provides a straightforward platform for stabilized operations and continued interior updates.
Key Highlights
- 14,866 SF oversized corner lot
- Unit mix: two 3‑bed 2‑bath, two 2‑bed 2‑bath, two 1‑bed 1.5‑bath
- 2007 roof plus hurricane impact windows and doors
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
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,467
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?
Apartment building - Six-unit apartment building in RM-20 with hurricane impact windows and doors, central A/C, and a 14,866 SF corner lot.
Where is this apartment building located?
The property is located at 10201 NW 35th Street 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: 14,866 SF oversized corner lot; Unit mix: two 3‑bed 2‑bath, two 2‑bed 2‑bath, two 1‑bed 1.5‑bath; 2007 roof plus hurricane impact windows and doors
