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2442 23rd Street North, St....

Basis Industrial Acquires Industrial Property In St. Petersburg For $7M
SOLDIndustrial

Basis Industrial Acquires Industrial Property In St. Petersburg For $7M

2442 23rd Street North, St. Petersburg, Florida 33713, United States

$7,000,000

$99/SF

Building Size

70,700 SF

Asset Type

Industrial

Closing

Oct 6, 2022

AI

The industrial property located at 2442 23rd St N in St. Petersburg has been sold. The transaction took place on 10/07/2022 for a sale price of $7,000,000. The property spans a total of 70,700 square feet, resulting in a price per square foot of $99. The buyer is Basis Industrial, represented by Daniel Weinstein and Anthony Scavo. The seller of the property is Tom Henkemans. The deal was facilitated by John Burpee of John Burpee & Associates, who acted as the broker.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $7,000,000
  • Address: 2442 23rd St N, St. Petersburg
  • Market: St. Petersburg
  • Buyer: Basis Industrial represented by Daniel Weinstein & Anthony Scavo
  • Seller: Tom Henkemans
  • Broker: John Burpee - John Burpee & Associates
  • Square Footage: 70,700
  • Price Per Square Foot: $99

Daniel Weinstein and Anthony Scavo, representing Basis Industrial, successfully acquired the industrial property located at 2442 23rd St N in St. Petersburg. The seller of the property was Tom Henkemans. John Burpee of John Burpee & Associates played a pivotal role as the broker in facilitating the deal between the buyer and the seller.

Players

John Burpee

John Burpee & Associates

Broker

$7M

vol

1 deal

Broker
Basis Industrial
Basis IndustrialBrokerage
Anthony Scavo

Anthony Scavo

Basis Industrial

Buyer

$1.3B

vol

44 deals

Buyer

Saint Petersburg Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93