Listed by SURMOUNT
$4,310,672
Heritage Funeral Home
Details
Property Type Special Purpose
Sub Type Funeral Home
Square Footage 16,899
Units 1
Cap Rate 7.75%
NOI $334,077
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 2009
Buildings 1
Acreage 5.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 12/29/2021
Ground Lease No
Ownership Fee Simple
Special Purpose | 7.75% CAP | 16,899 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Heritage located at 723 US Highway 27 N, Marshall, MI 49068. The site consists of roughly 16,899 rentable square feet of building space on an estimated 5-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 $334,077 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.
- 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.
- Affluent Community | This Heritage property is located in an affluent community where the average household income within a five - mile radius exceeds $97,000.
- Proximity to Major Interstates | The subject investment property benefits from being located within close proximity to both Interstate - 69 and Interstates - 94, which provide access to nearby Ann Arbor, Battle Creek, and Kalamazoo.
- Strong Academic Presence | The subject investment property benefits from being located within a two - mile radius of Marshall High School, Marshall Middle School, and Walters Elementary School, which have over 1,600 students collectively enrolled.
- Ford's BlueOval Battery Park Michigan | Ford announced a $2.5 billion investment for a lithium iron phosphate battery plant, on roughly 1,600 acres in Marshall, expected to bring 1,700 jobs with production planned to start in 2026 at roughly 20 gigawatt - hours of annual capacity.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$334,077.00
$27,839.75/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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