Park-Adjacent
For Sale
$1,239,000
3775 NW 116th Terrace, Coral Springs, FL 33065
Residential Income, Coral Springs, FL
Property Size3,819 SF
Lot Size0.23 Acres
Price / SF$324.43
Days on Market115
Property Features for 3775 NW 116th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-15
Bedrooms
12
Full bathrooms
4
Half bathrooms
3
Rooms
Bathroom 6, Bedroom 3, Bathroom 4, Bedroom 12, Bedroom 7, Bathroom 1, Bedroom 1, Bathroom 7, Bathroom 2, Bedroom 11, Bedroom 6, Bedroom 9, Bedroom 10, Bedroom 4, Bedroom 2, Bathroom 3, Bathroom 5, Bedroom 5, Bedroom 8
Exterior features
Garden
Subdivision
CASTLEWOOD
Lot features
Corner Lot
View
City
Elementary school
Coral Springs
Middle school
Coral Springs
High school
Coral Glades
Standard status
Active
APN
484117060640
Size
3,819 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CASTLEWOOD 71-37 B LOT 15 BLK E
Tax Annual Amount
23368
Legal Description
CASTLEWOOD 71-37 B LOT 15 BLK E
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer and dryer
granite counters
stainless steel appliances
Building Details
Year built
1975
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic
Building materials
CBS
Roof type
Tile
Listing Agency:
Fidelity Real Estate Group LLC
(954) 345-9144
Listed By:
Carlos A Montoya · License #0623048
(954) 234-7653
Added: Jun 10
Changed: Oct 1
Last Checked: Oct 2 at 12:06AM
MLS# B26039314
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.
Built in 1975, this CBS-constructed quadplex contains four 3-bedroom units within 3,819 square feet. Interior improvements include newer kitchens, renovated bathrooms, and laminate flooring, with select residences featuring granite countertops and stainless-steel appliances. Each unit includes a washer and dryer. Central heating and central air serve the property, which also has a tile roof, public water, and public sewer.
The property occupies 0.23 acres at 3775 NW 116th Terrace in Coral Springs, Florida, next to a city park with park views. RM-15 zoning applies. Cable service is available, and on-site parking is provided for the four-unit configuration.
The property occupies 0.23 acres at 3775 NW 116th Terrace in Coral Springs, Florida, next to a city park with park views. RM-15 zoning applies. Cable service is available, and on-site parking is provided for the four-unit configuration.
Key Highlights
- Four 3‑bedroom units in a 3,819‑square‑foot quadplex
- 0.23‑acre property zoned RM‑15
- Updated kitchens and renovated bathrooms
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
$66,026
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
5.33%
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%
$1,320,520
$1.3M
Cap Rate 7%
$943,229
$943.2K
Cap Rate 9%
$733,622
$733.6K
Market Conditions
NOI Build-Up for 3,819 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
$98.5K $25.80/SF
− Vacancy
−$4.2K −$1.10/SF
EGI
$94.3K $24.70/SF
− OpEx
−$28.3K −$7.41/SF
NOI
$66.0K $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%
$1,320,520
Cap Rate 7%
$943,229
Cap Rate 9%
$733,622
Alternative Uses
Best Use
Multifamily LT 5
$943.2K
$825.3K – $1.10M
NOI $66,026 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$870.0K
$761.3K – $1.02M
NOI $60,900 @ 7.0% cap · market cap 4.92%
Theoretical Best
Specialty Retail
$6.51M
$5.70M – $7.60M
NOI $455,875 @ 7.0% cap · market cap 36.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,096
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four spacious rental units offer refreshed interiors, in-unit laundry, and on-site parking.
Where is this quadplex located?
The property is located at 3775 NW 116th Terrace Coral Springs, FL.
What is the asking price?
The asking price for this property is $1,239,000.
What are key features of this property?
This property features: Four 3‑bedroom units in a 3,819‑square‑foot quadplex; 0.23‑acre property zoned RM‑15; Updated kitchens and renovated bathrooms
