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

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SOLD
$7,000,000

Florida

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Industrial70,700 SF
Sold 10/07/2022
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Property Image
SOLD

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

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

See Similar Deals
Industrial70,700 SF
Sold 10/07/2022
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$99
Total Square Footage:70,700 SF
Transaction Type:Sale

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
1 deal$7M volume
BROKER

Basis Industrial
BROKERAGE

Anthony Scavo
Basis Industrial
44 deals$1.3B volume
BUYER

Daniel Weinstein
Basis Industrial
7 deals$195.1M volume
BUYER

Details

SOLD
IMAGE: Daniel Weinstein & Anthony Scavo DATE: 10/07/2022 ADDRESS: 2442 23rd St N MARKET: St. Petersburg ASSET TYPE: Industrial BUYER: Basis Industrial - Daniel Weinstein & Anthony Scavo SELLER: Tom Henkemans BROKER: John Burpee - John Burpee & Associates SALE PRICE: $7,000,000 SF: 70,700 ~ PPSF: $99

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$373,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,869.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,183.57
Annual Debt Service$398,202.85