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

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SOLD
$5,050,000

Florida

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Office47,285 SF
Sold 02/21/2025
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Property Image
SOLD

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

5701 North Pine Island Road

See Similar Deals
Office47,285 SF
Sold 02/21/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$106
Total Square Footage:47,285 SF
Transaction Type:Sale

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
Nick Polyushkin
5 deals$31.9M volume
BROKER

Details

SOLD
IMAGE: Nick Polyushkin DATE: 02/21/2025 ADDRESS: 5701 North Pine Island Road MARKET: Tamarac ASSET TYPE: Office BUYER: Nick Polyushkin SELLER: Solutions RE BUYER'S REP: Nick Polyushkin (@Nickprorealty) - Vera Realty (@Vera.fund) SALE PRICE: $5 050 000 SF: 47 285 ~ PPSF: $106 NOTE FROM BROKER: Vera Fund has put under contract an 47,000-sf office building located at 5701 N Pine Island Rd, Tamarac, FL The property is an office building on 3 acres with a total of 40,977 sq ft. The building is currently approximately 65% leased with a variety of tenant types, including a congressional office, attorneys, medical administrative offices, finance, healthcare and similar businesses. The property includes covered parking beneath the property as well as a very large parking lot in the back 2/3rds of the lot. Located minutes away from Colony West Golf Club, an 18-hole course that makes for another great location for client meetings! Multiple communities nearby, such as Hampton Hills Community Association, providing an easy commute for possible tenants.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,941.59
Cash-on-Cash Return-1.27%
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