7-Unit Apartment
New
For Sale
$2,499,999
10675 Royal Palm Boulevard, Coral Springs, FL 33065
Seven residences offer private outdoor space, in-unit laundry, and separate electric metering.
Property Size8,407 SF
Days on Market4
Property Features for 10675 Royal Palm Boulevard
General Information
Standard status
Active
Size
8,407 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 3BR/2.5BA Townhome, 4 x 3BR/2BA, 2 x 2BR/2BA
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$44,000
Amenities
washer and dryer
private patio or balcony
separate electric meter
Building Details
Building Size
8,407 SF
Year Built
1987
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
Source:
Relinkre
Added: Aug 27
Changed: Aug 29
Last Checked: Aug 29 at 10:15AM
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 7-unit apartment property in Coral Springs includes one 3-bedroom, 2.5-bath townhome, four 3-bedroom, 2-bath residences, and two 2-bedroom, 2-bath residences. Built in 1987, the property occupies nearly half an acre at a corner location. Each residence includes a washer and dryer, a private patio or balcony, and a separate electric meter.
The property is located at 10675 Royal Palm Blvd in Coral Springs, Florida. Walk Score is 32, Bike Score is 44, and Transit Score is 32, reflecting a car-dependent setting with some transit and moderate bike access.
The property is located at 10675 Royal Palm Blvd in Coral Springs, Florida. Walk Score is 32, Bike Score is 44, and Transit Score is 32, reflecting a car-dependent setting with some transit and moderate bike access.
Key Highlights
- 7 units: one 3‑bedroom, 2.5‑bath townhome, four 3‑bedroom, 2‑bath units, and two 2‑bedroom, 2‑bath units
- Nearly half an acre at a corner‑lot location
- Washer and dryer included in every unit
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 40.14%
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
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 - Seven residences offer private outdoor space, in-unit laundry, and separate electric metering.
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 $2,499,999.
What are key features of this property?
This property features: 7 units: one 3‑bedroom, 2.5‑bath townhome, four 3‑bedroom, 2‑bath units, and two 2‑bedroom, 2‑bath units; Nearly half an acre at a corner‑lot location; Washer and dryer included in every unit
