Renovated
For Sale
$845,000
10600 NW 45th St, Coral Springs, FL 33065
Two leased residences offer recently updated interiors and a three-bedroom, two-bathroom layout per unit.
Property Size3,408 SF
Days on Market10
Property Features for 10600 NW 45th St
General Information
Standard status
Active
Size
3,408 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$14,533
Building Details
Building Size
3,408 SF
Year Built
1976
Listing Agency:
Coldwell Banker Realty
Listed By:
Monica Llanos · License #3199028
(954) 826-7214
Source:
Relinkre
Added: Aug 25
Changed: Sep 3
Last Checked: Sep 2 at 9:09PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1976, this duplex contains two residential units, each configured with three bedrooms and two bathrooms. Both residences have undergone recent renovations and are currently leased, providing an established occupancy profile for the property.
The property is located in Coral Springs near schools, shopping, dining, major highways, and everyday services. Its two-unit configuration and updated interiors support continued use as a residential income property.
The property is located in Coral Springs near schools, shopping, dining, major highways, and everyday services. Its two-unit configuration and updated interiors support continued use as a residential income property.
Key Highlights
- Two‑unit duplex in Coral Springs
- Each unit includes 3 bedrooms and 2 bathrooms
- Both units have been recently renovated
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
$58,920
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
6.97%
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%
$1,178,400
$1.2M
Cap Rate 7%
$841,714
$841.7K
Cap Rate 9%
$654,667
$654.7K
Market Conditions
NOI Build-Up for 3,408 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
$87.9K $25.80/SF
− Vacancy
−$3.8K −$1.10/SF
EGI
$84.2K $24.70/SF
− OpEx
−$25.3K −$7.41/SF
NOI
$58.9K $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%
$1,178,400
Cap Rate 7%
$841,714
Cap Rate 9%
$654,667
Alternative Uses
Best Use
Multifamily LT 5
$841.7K
$736.5K – $982.0K
NOI $58,920 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$776.4K
$679.3K – $905.8K
NOI $54,346 @ 7.0% cap · market cap 6.43%
Theoretical Best
Specialty Retail
$5.81M
$5.09M – $6.78M
NOI $406,814 @ 7.0% cap · market cap 48.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
550
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?
Duplex - Two leased residences offer recently updated interiors and a three-bedroom, two-bathroom layout per unit.
Where is this duplex located?
The property is located at 10600 NW 45th St Coral Springs, FL.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Two‑unit duplex in Coral Springs; Each unit includes 3 bedrooms and 2 bathrooms; Both units have been recently renovated
