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Rock Bottom Stone Supply 2586 S Milford Rd 2,592 SF Retail Building Highland, MI 48357 $2,204,158 CAD ($850.37 CAD/SF) 7.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Over 4 Years Remaining | 2% Annual Increases | 2 (5-Year) Options |Parent Company Recently Acquired by Home Depot (NYSE: HD)
- Located Along Arterial Thorough Fare | Excellent Visibility
- Industrial NNN | Limited Landlord Responsibilities | Fee Simple
- Strong Demographics in 5-Mile Trade Area
EXECUTIVE SUMMARY
• The tenant has over 4 years of firm term remaining with 2 (5-year) options to extend
• The lease features 2% annual rental increases throughout the initial term and option periods, providing a hedge against inflation for a future investor
• The lease is signed by Heritage Landscape Supply which operates 220+ branches across 36 states and is a wholly owned subsidiary of SRS Distribution
• In 2024, SRS Distribution was acquired by The Home Depot for approximately$18.25 billion (see page 27 for more details).
• The lease features 2% annual rental increases throughout the initial term and option periods, providing a hedge against inflation for a future investor
• The lease is signed by Heritage Landscape Supply which operates 220+ branches across 36 states and is a wholly owned subsidiary of SRS Distribution
• In 2024, SRS Distribution was acquired by The Home Depot for approximately$18.25 billion (see page 27 for more details).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Garden Center
Building Size
2,592 SF
Building Class
B
Year Built
1987
Price
$2,204,158 CAD
Price Per SF
$850.37 CAD
Cap Rate
7.75%
NOI
$170,861 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
4.61 AC
Frontage
AMENITIES
- Dedicated Turn Lane
- Signage
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- One Stop Landscape Supply
- -
- -
- -
- -
- Rock Bottom Stone Supply
- -
- 2,589 SF
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| One Stop Landscape Supply | - | - | - | - | ||
| Rock Bottom Stone Supply | - | 2,589 SF | - | - |
PROPERTY TAXES
| Parcel Number | 11-34-301-002 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $223,180 CAD |
PROPERTY TAXES
Parcel Number
11-34-301-002
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$223,180 CAD
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Rock Bottom Stone Supply | 2586 S Milford Rd
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