Commercial Sale · Income/MultiFamily
, CORAL SPRINGS, FL, 33065
Active51 days on marketListed Jun 15, 2026MLS #A12037111
About this property
The property at a glance
Coral Flats is a 14 unit multifamily investment opportunity located at 8430 NW 40th Street in Coral Springs, Florida. Built in 1972 with durable concrete construction, the property sits on 0.79 acres and consists of 6 one bedroom units and 8 two bedroom/one bath units, averaging 679 square feet. Coral Flats is currently 100% occupied with average in place rents of $1,734 per unit, reflecting strong intrinsic demand and stable tenancy. Ideally positioned in the heart of Coral Springs, the property is surrounded by affluent demographics and some of the highest rated public schools in Broward County. Within a three-mile radius, the average household income is $98,000, which supports market rents of approximately $2,450 per month using a standard 30% rent to income ratio. The surrounding neighborhood is predominantly composed of condominiums and single family homes, enhancing the property’s appeal to quality renters seeking stability and strong school zones. With in-place rents below market, Coral Flats offers a clear value-add opportunity. A light interior renovation program—estimated at $10,000 per unit—would allow a new owner to modernize finishes and capture approximately $33,000 of rental upside. Post renovation rents are projected at $1,700 for one bedroom units and $2,100 for two bedroom units, or an average of $1,930 per unit. Six units are already equipped with in unit washers and dryers, providing an additional competitive advantage.
9,507
Building sq ft
$295
Price / sq ft
34,415
Lot sq ft
1972
Year built
1
Building
RM-20
Zoning
Income/MultiFamily
Property type
The numbers
Investment snapshot
Income and lease details aren’t published in the MLS for this listing. Ask for the offering memorandum and rent roll to run cap rate, NOI and cash-on-cash.
Estimated payment (illustrative)
Estimated payment
$18,028/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Leliana to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
59,653
Population
$70,435
Median income
35.3
Median age
2.95
Avg household
$416,800
Median home value
$1,833/mo
Median rent
8,456
Households w/ kids
Recent sales
What actually sold near
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$2,120,000
7801 NW 35th Ct # 4, Coral Springs FL 33065
Sold Apr 14, 2025
$8,650,000
3331 Coral Hills Dr, Coral Springs FL 33065
Sold Apr 16, 2025
$930,000
3500 NW 116th Ter # 4, Coral Springs FL 33065
Sold May 15, 2025
Your team
The pros in your corner
Your agent
Leliana Vazquez
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for .
See it in person
Schedule a tour
Live availability from Leliana's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of CBRE, Inc. · Periklis Synanidis. MLS #A12037111.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Miami Association of REALTORS®.
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