8 sq ft floor space, I'm going to guess 5 foot of height, you bring in cold air and expel warm air, I wouldn't waste time with a thermostat because that would need to run from at least 1 hour before lights out to at least 2 hours after lights on to have a chance of keeping that space at a higher, stable, temperature.
You really need more, imo based on my experiences of heating installations in homes, as you are not looking at a "draught proof" room but one where you will bring in colder air. And when you mix that with inefficient convection heating versus "forced" heating you are left with making sure that your oil filled rad is in a VERY specific place where it nullifies the cold air intake AND has the grunt to increase temperature in a space that is, for obvious reasons, not sealed.
I use an older version of this
and run it at 1kw, and it keeps my room, bigger than your tent, stable whilst the warm air is at "pot" level. You can also get them in a "vertical" form, which will fire out more heat and take up less space than that 1/2kw oil filled rad. If you have space for that Tristar 500w rad, you have space for a small forced ventilation heater which you only have to have blowing "down the side" of the tent to be able to keep temperatures stable without cooking the pots and roots whilst keeping them warm without a heating pad.
You're problem isn't like with many others where they have lower temperature swings, your basement is much colder than you want your tent to be so you will need to jack things up a bit, minimum 1kw for forced heating, 1.5-2kw for pure convection heating in a space where you're not only forcibly circulating air but also bringing in much colder air whilst forcibly expelling warmer air, as pure convection sends the heat upwards where it will get sucked out by your extract before it has the chance to be circulated around the tent.