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Heritage Funeral Home 205 N Elizabeth St 3,256 SF Retail Building Bellevue, MI 49021 $410,846 ($126.18/SF) 7.75% Cap Rate
Investment Highlights
- Strong Corporate Guarantee
- Annual Rent Increases
- Proximity to Major Interstate
- Robust Unit - Level Performance
- Strong Academic Presence
- Affluent Community
Executive Summary
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Funeral Home
Building Size
3,256 SF
Building Class
C
Year Built
2010
Price
$410,846
Price Per SF
$126.18
Cap Rate
7.75%
NOI
$31,841
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
0.32 AC
Parking
3 Spaces (0.92 Spaces per 1,000 SF Leased)
Frontage
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 131-000-039-009-00 | Improvements Assessment | $143,961 |
| Land Assessment | $4,882 | Total Assessment | $148,843 |
Property Taxes
Parcel Number
131-000-039-009-00
Land Assessment
$4,882
Improvements Assessment
$143,961
Total Assessment
$148,843
Contacts
-
Glen Kunofsky -
Alexandre Marietto -
Kyle Karsian -
Joseph Kelly -
Christopher Marks -
Surmount
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