Listed by SURMOUNT
$410,846
Heritage Funeral Home
Details
Property Type Special Purpose
Sub Type Funeral Home
Square Footage 3,256
Units 1
Cap Rate 7.75%
NOI $31,841
Occupancy 100%
Tenancy Single
Brand/Tenant Heritage
Lease Type NNN
Lease Term 20
Lease Expiration 12/31/2041
Remaining Term 15.5
Rent Bumps Yes
Lease Options 4, 5 - Year Options
Year Built 2010
Acreage 0.320
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/29/2021
Ground Lease No
Ownership Fee Simple
Special Purpose | 7.75% CAP | 3,256 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Heritage located at 205 N. Elizabeth Street, Bellevue, MI 49021. The site consists of roughly 3,256 rentable square feet of building space on an estimated .32-acre parcel of land. Heritage is subject to a 20-year Triple Net (NNN) lease, which commenced 12/29/2021. The current annual rent is $31,841 and has scheduled increases of 1.50% Annually.
Investment highlights
- Strong Corporate Guarantee | This investment is backed by a strong corporate guarantee from Heritage Family, a leading operator of approximately 130 centers in the funeral and memorial services industry. With a proven track record of stability and long - term operational success, Heritage Family provides investors with the assurance of a financially secure and well - established tenant.
- Robust Unit - Level Performance | The subject property benefits from strong unit - level performance. Please contact the listing team for additional details.
- Annual Rent Increases | This investment features built - in 1.50% annual rental increases, providing investors with predictable income growth over the lease term. These consistent escalations serve as a hedge against inflation, ensuring long - term appreciation and enhanced cash flow.
- Strong Academic Presence | This Heritage property benefits from being located within a three - mile radius of Bellevue High School and Bellevue Early Childhood Center and Elementary Scholl which have over 550 students collectively enrolled.
- Proximity to Major Interstate | The subject investment property benefits from being located approximately three miles from Interstate - 69 which provides access to nearby Lansing and Battle Creek.
- Affluent Community | This Heritage property is located in an affluent community where the average household income within a ten - mile radius exceeds $92,500.
Listing Contacts
Listed by SURMOUNT
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$31,841.00
$2,653.42/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
