Is the basement unfinished?
All general purpose receptacles in an unfinished basement are required to be GFCI protected.

Did you check the breaker on the surge strip?

A little troubleshooting will help determine possible causes.

First try flipping the breaker for that circuit all the way to off, then back on. Sometimes breakers are hard to tell if they've tripped without actually cycling the switch.

Check to see if other receptacles in the basement work, if they do, the problem is most likely the receptacle that doesn't work or a connection in the box.

If you're still not getting anywhere, turn switch off the breaker for that circuit (if in doubt, shut off the main) and remove the receptacle. Check for loose or scortched connections, or a "backstabed" connection to the receptacle. This is when wires are pushed into the holes on the back side of the receptacle. These connections are not reliable. Redo the connection by looping the wires around the provided screws on the side of the receptacle (white to silver screw, black to gold screw)

Have a look and post back with what you find. Remember to always check that the power is off on the circuit, then check again! If you are not 100% comfortable working with electrical, call an electrician.

Chances are very good that you have a GFI somewhere that's tripped. Some treadmills seem to cause GFI tripping, for some reason.

The GFI that controls this receptacls could be behind a cabinet, freezer, etc. Keep looking.