Funeral Home-to wholesale or not to wholesale?

Question

I have come across a FSBO funeral home built in the 20's (effec year built 1985) and currently vacant. It's been for sale for at least 6 months maybe longer. I'm not sure how to valuate it. It has two residences in the same building. It's on a main street with loads of traffic and exposure. There are many homes nearby that have been converted to professional offices and I could easily envision a very nice conversion with this place. Any suggestions on how to approach this one? I will be contacting the zoning dept to find out what other uses are permissible.

Thanks!

Mindy Jensen · Answer

@Sherri Southwell,

What funeral home-specific features does it have? Is there a cremation furnace or room or whatever there? Could it just be rented to another funeral home? Is office space tight there?

Sherri Southwell · Answer

Daycare center, never thought of that. I heard it was an antique store before it was a funeral home and who knows beyond that. The moment I saw it a speak easy came to mind but the owner said the locals wouldn't allow it. It has so many possibilities but it would take someone with true vision to turn it around. I found another funeral home that did the same with an old historic house near my hometown and they might have some interest but I'm unsure how to valuate it in order to put it under contract and price for potential buyers. UGH!

Chris Mason · Answer

Not an answer to your question directly @Sherri Southwell, but a fun fact.

Two doors down from my grandma's house is what was a funeral home the entire time I was growing up.

Now, it's a children's daycare center bustling with activity and life.

Ryan Dossey · Answer

Could be pretty difficult. You may find the property stigmatized by locals. I personally wouldn't want my office in an old funeral home. Just seems gloomy.

Funeral Home-to wholesale or not to wholesale?

4 Replies