8-Unit Apartment
For Sale
$2,250,000
11676 NW 45th Street, Coral Springs, FL 33065
Fully occupied multifamily property with updated roofing, on-site laundry, and dedicated parking.
Property Size8,154 SF
Lot Size0.50 Acres
Price / SF$275.94
Days on Market62
Property Features for 11676 NW 45th Street
General Information
Standard status
Active
Size
8,154 SF
Total Parking Spaces
17
Lot size
0.50 Acres
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$35,758
Amenities
laundry rooms
Building Details
Building Size
8,154 SF
Year Built
1984
Buildings
1
Stories
2
Listing Agency:
LoKation
(954) 849-2135
Listed By:
Chantal Levy · License #3483991
(954) 849-2135
Source:
Pamandtoni
Added: Jun 7
Changed: Aug 4
Last Checked: Aug 6 at 3:30AM
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 LoKation
Investment Insights
Based on property information with market context.
This two-story apartment building contains 8 units with a total of 16 bedrooms and 16 bathrooms. The property measures 8,154 square feet and was built in 1984. Improvements include a roof installed in 2021, two separate laundry rooms, and 17 dedicated parking spaces. The building is fully rented and situated on a spacious half-acre lot. A completed 40-year inspection is also noted.
Located at 11676 NW 45th Street in Coral Springs, the property is near shopping and dining, with major highways only minutes away. Its fully occupied configuration, on-site laundry facilities, and established physical improvements provide a straightforward multifamily operating profile.
Located at 11676 NW 45th Street in Coral Springs, the property is near shopping and dining, with major highways only minutes away. Its fully occupied configuration, on-site laundry facilities, and established physical improvements provide a straightforward multifamily operating profile.
Key Highlights
- 8 units with 16 bedrooms and 16 bathrooms
- 8,154‑square‑foot, two‑story apartment building built in 1984
- Fully rented and fully occupied
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
$130,028
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
5.78%
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%
$2,600,560
$2.6M
Cap Rate 7%
$1,857,543
$1.9M
Cap Rate 9%
$1,444,756
$1.4M
Market Conditions
NOI Build-Up for 8,154 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
$247.6K $30.36/SF
− Vacancy
−$11.1K −$1.37/SF
EGI
$236.4K $28.99/SF
− OpEx
−$106.4K −$13.05/SF
NOI
$130.0K $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%
$2,600,560
Cap Rate 7%
$1,857,543
Cap Rate 9%
$1,444,756
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,028 @ 7.0% cap · market cap 5.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.90M
$12.17M – $16.22M
NOI $973,345 @ 7.0% cap · market cap 43.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
841
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 - Fully occupied multifamily property with updated roofing, on-site laundry, and dedicated parking.
Where is this apartment building located?
The property is located at 11676 NW 45th Street Coral Springs, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 8 units with 16 bedrooms and 16 bathrooms; 8,154‑square‑foot, two‑story apartment building built in 1984; Fully rented and fully occupied
