7-Unit Apartment Building with Private
For Sale
$2,499,000
10675 Royal Palm Boulevard, Coral Springs, FL
MULTI_FAMILY - Coral Springs, FL
Property Size8,407 SF
Lot Size0.47 Acres
Price / SF$297.25
Days on Market48
Property Features for 10675 Royal Palm Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-20
Parking
15
Parking features
Guest, Assigned
Lot features
Corner Lot
Subdivision
3626
Standard status
Active
APN
484120014270
Size
8,407 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CORAL SPRINGS COUNTRY CLUB SUB 60-43 B LOT 12 BLK L
Tax Annual Amount
44630
Legal Description
CORAL SPRINGS COUNTRY CLUB SUB 60-43 B LOT 12 BLK L
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer and dryer
private patio or balcony
separate electric meter
Building Details
Year built
1987
Floors in Building
2
Number of units
7
Building materials
CBS
Roof type
Barrel
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Jul 10
Changed: Jul 31
Last Checked: Aug 26 at 8:06AM
MLS# B26050938
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.
This 7-unit apartment building includes one spacious 3-bedroom, 2.5-bath townhome, four 3-bedroom, 2-bath units, and two 2-bedroom, 2-bath units. Each unit offers a private patio or balcony and includes a washer and dryer. The building is equipped with central heating and central air conditioning, with CBS construction and a barrel roof. Units also have separate electric meters, supporting more independent utility usage by residents. Parking is available with both guest and assigned spaces.
Set on a 0.47-acre lot and described as a prime corner-lot location, the property is served by public water and public sewer, with cable available. Built in 1987, it is zoned RM-20.
For tenants, the unit mix provides a mix of larger 3-bedroom layouts alongside two-bedroom options, with in-unit laundry and outdoor space included in every unit.
Set on a 0.47-acre lot and described as a prime corner-lot location, the property is served by public water and public sewer, with cable available. Built in 1987, it is zoned RM-20.
For tenants, the unit mix provides a mix of larger 3-bedroom layouts alongside two-bedroom options, with in-unit laundry and outdoor space included in every unit.
Key Highlights
- Zoned RM‑20, with 7 units and a 0.47‑acre corner‑lot site
- One 3‑bedroom, 2.5‑bath townhome plus four 3‑bedroom, 2‑bath units
- Two 2‑bedroom, 2‑bath units, each with private patio or balcony
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
$134,063
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
5.36%
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%
$2,681,260
$2.7M
Cap Rate 7%
$1,915,186
$1.9M
Cap Rate 9%
$1,489,589
$1.5M
Market Conditions
NOI Build-Up for 8,407 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
$255.2K $30.36/SF
− Vacancy
−$11.5K −$1.37/SF
EGI
$243.8K $28.99/SF
− OpEx
−$109.7K −$13.05/SF
NOI
$134.1K $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%
$2,681,260
Cap Rate 7%
$1,915,186
Cap Rate 9%
$1,489,589
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.23M
NOI $134,063 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.34M
$12.54M – $16.73M
NOI $1,003,546 @ 7.0% cap · market cap 40.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
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 - RM-20 zoned 7-unit property with private patios or balconies and washer-dryer in every unit.
Where is this apartment building located?
The property is located at 10675 Royal Palm Boulevard Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Zoned RM‑20, with 7 units and a 0.47‑acre corner‑lot site; One 3‑bedroom, 2.5‑bath townhome plus four 3‑bedroom, 2‑bath units; Two 2‑bedroom, 2‑bath units, each with private patio or balcony
