Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8704 NW 38th Dr Coral Springs, FL 33065

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,750,000

    Five-unit multifamily property in Coral Springs with immediate cash flow.

    Type:Investment
    Added:
    Apr 24, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 24 at 3:49 pm

    Property Features for 8704 NW 38th Dr

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Victor Persia

    Listing agent Victor Persia License #3194931

    Listing office Compra Venta Miami

    Listing date Apr 24, 2026

    Source Elliman

    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 Compra Venta Miami

    Overview

    Fully Occupied Coral Springs Five-Plex

    This is a fully occupied five-plex located at 8704 NW 38th Drive, featuring five 2-bedroom, 1-bathroom units. All units are currently rented, offering low maintenance and immediate cash flow. The property is located in Coral Springs, a location that maintains strong demand and low vacancies. It is suitable for portfolio builders, passive investors, or 1031 exchange buyers seeking stable returns. The property has a bike score of 58, indicating it is bikeable, a walk score of 69, indicating it is somewhat walkable, and a transit score of 34, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Coral Springs
    County
    Broward
    State
    Florida
    Longitude
    -80.2569
    Latitude
    26.2738

    Nearby Similar for Sale

    • $985,000

      Coral Springs Commercial Units For Sale

      Two commercial units available in Coral Springs Corporate Park.
      3660 NW 126th Avenue, Coral Springs, FL 33065
      View Details
    • $770,400
      7,062 SF

      Coral Springs Commercial Medical Space

      Spacious corner office, approved for medical uses, excellent natural light.
      11780 W Sample Road, Coral Springs, FL 33065
      View Details
    • $1,595,000
      5,004 SF

      Coral Springs Industrial Office/Warehouse

      Modern, two-story light industrial office/warehouse in a prime location.
      3650 Coral Ridge Drive, Coral Springs, FL 33065
      View Details
    • $590,000
      1,699 SF

      Coral Springs Medical/Office Condo

      Move-in ready medical/office condo with ample parking and storage.
      2929 N University Drive, Coral Springs, FL 33065
      View Details
    • $1,395,000
      4,323 SF

      Coral Springs Industrial Office/Warehouse

      Modern, two-story light industrial office/warehouse in a prime location.
      3650 Coral Ridge Drive, Coral Springs, FL 33065
      View Details
    • $579,000

      Completely Redone Executive Office Suite

      Turnkey office suite in Coral Springs, ready for immediate occupancy.
      7301 Wiles Road, Coral Springs, FL 33067
      View Details
    • $1,295,000

      Coral Springs Industrial Office/Warehouse

      Modern, two-story light industrial office/warehouse in a prime location.
      3650 Coral Ridge Drive, Coral Springs, FL 33065
      View Details
    • $2,600,000
      6,536 SF

      Medical Office Building in Coral Springs

      Free-standing building suitable for medical or office use.
      11784 W Sample Road, Coral Springs, FL
      View Details
    • $475,000
      1,294 SF

      Turnkey Hair Salon in Coral Springs

      Fully built-out hair salon with expansion potential near new apartments.
      3000 N University Drive, Coral Springs, FL 33065
      View Details
    • $1,600,000
      7,062 SF

      Medical/Office Space in Coral Springs

      Spacious medical/office space with flexible design and ample parking.
      11780 W Sample Road, Coral Springs, FL 33065
      View Details
    • $449,900

      Coral Springs Office For Sale

      Second-floor office space with natural light in Coral Springs, FL.
      3932 Coral Ridge Drive, Coral Springs, FL 33065
      View Details
    • $1,050,000
      2,450 SF

      Coral Springs Office Condo For Sale

      2,450 sqft office condo in Coral Springs Professional Campus.
      5531 N University Drive, Coral Springs, FL 33067
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five-unit multifamily property in Coral Springs with immediate cash flow.
    Where is this apartment building located?
    The property is located at 8704 NW 38th Dr Coral Springs, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Immediate cash flow from a fully occupied five‑plex.; Low‑maintenance property requiring minimal upkeep.; Prime Coral Springs location with strong rental demand and low vacancies.
    (786) 285-1871
    We can help!
    Listing Contact
    Victor Persia
    Real Estate License ID: 3194931
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!