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
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