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5701 North Pine Island Road

Nick Polyushkin Of Vera Realty Represents Buyer In Office Sale From Solutions RE For $5.05M
SOLDOffice

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

Nick Polyushkin

Vera Realty

Broker

$36.8M

vol

6 deals

Broker

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