Nick Polyushkin Of Vera Realty Represents Buyer In Office Sale From Solutions RE For $5.05M
5701 North Pine Island Road
$5,050,000
$106/SF
Building Size
47,285 SF
Asset Type
Office
Closing
Feb 21, 2025
AI
The transaction involves an office building located at 5701 North Pine Island Road in Tamarac, which sold for $5,050,000. The asset spans a total of 47,285 square feet on a 3-acre lot. The property currently has approximately 65% of its space leased to various tenants, including a congressional office, legal firms, medical administrative offices, and businesses in finance and healthcare. The facility features covered parking and has a large parking lot covering the back two-thirds of the lot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $5,050,000
- Buyer: Nick Polyushkin
- Seller: Solutions RE
- Buyer's Representative: Nick Polyushkin - Vera Realty
- Square Footage: 47,285
- PPSF: $106
This deal highlights the involvement of Nick Polyushkin, who served both as the buyer and the representative through Vera Realty. The asset is strategically located near Colony West Golf Club and various residential communities, providing accessibility for current and potential tenants.
Players
Fort Lauderdale Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.14%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93