Four-Unit Multifamily
New
For Sale
$1,499,000
1831-1837 NW 94th Avenue, Coral Springs, FL 33071
All four residences offer three bedrooms, two bathrooms, central air conditioning, and in-unit laundry.
Property Size4,000 SF
Price / SF$374.75
Days on Market4
Property Features for 1831-1837 NW 94th Avenue
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
8
Property subtype
Quadruplex
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$133,200
Taxes and HOA fees
Annual Taxes
$23,267
Amenities
Central A/C
In-Unit Washers And Dryers
Backyard
Building Details
Building Size
4,000 SF
Year Built
1990
Buildings
1
Tenancy
Multi
Listing Agency:
RPM LUXE REALTY
Listed By:
Rodger P Morelli · License #3059403
(561) 929-7317
Source:
Pamandtoni
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 8:13AM
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 RPM LUXE REALTY
Investment Insights
Based on property information with market context.
Built in 1990, this multifamily property contains four residences of approximately 1,000 square feet each. Each unit has three bedrooms, two bathrooms, central air conditioning, and an in-unit washer and dryer. The building totals 4,000 square feet and has multifamily zoning.
Eight parking spaces serve the property, which also includes a large backyard. The property is within walking distance of Coral Square Mall, restaurants, and shopping. A 40-year recertification has been completed, and there is no HOA.
Eight parking spaces serve the property, which also includes a large backyard. The property is within walking distance of Coral Square Mall, restaurants, and shopping. A 40-year recertification has been completed, and there is no HOA.
Key Highlights
- Four units, each with 3 bedrooms and 2 bathrooms
- Approximately 1,000 SF per unit; 4,000 SF total
- Central A/C and in‑unit washers and dryers in all units
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
$69,155
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
4.61%
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%
$1,383,100
$1.4M
Cap Rate 7%
$987,929
$987.9K
Cap Rate 9%
$768,389
$768.4K
Market Conditions
NOI Build-Up for 4,000 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
$103.2K $25.80/SF
− Vacancy
−$4.4K −$1.10/SF
EGI
$98.8K $24.70/SF
− OpEx
−$29.6K −$7.41/SF
NOI
$69.2K $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%
$1,383,100
Cap Rate 7%
$987,929
Cap Rate 9%
$768,389
Alternative Uses
Best Use
Multifamily LT 5
$987.9K
$864.4K – $1.15M
NOI $69,155 @ 7.0% cap · market cap 4.61%
Second Best
Apartment 5plus
$911.2K
$797.3K – $1.06M
NOI $63,786 @ 7.0% cap · market cap 4.26%
Theoretical Best
Specialty Retail
$6.82M
$5.97M – $7.96M
NOI $477,481 @ 7.0% cap · market cap 31.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,549
Businesses Nearby
Explore this area
Business Placement
Demographics for 33071, FL
40,026
Population
14,184
Households
2.8
Avg Household Size
40
Median Age
43%
College-Educated
95%
High-School Grad
7.5 sq mi
ZIP Area
5,337
Density / Sq Mi
$100,279
Median Household Income
$50,090
Median Earnings
$2,092
Median Rent
$537,100
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?
Quadplex - All four residences offer three bedrooms, two bathrooms, central air conditioning, and in-unit laundry.
Where is this quadplex located?
The property is located at 1831-1837 NW 94th Avenue Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four units, each with 3 bedrooms and 2 bathrooms; Approximately 1,000 SF per unit; 4,000 SF total; Central A/C and in‑unit washers and dryers in all units
