Log In/Sign Up
Your email has been sent.
Krystal's | New 25-Year Sale-leaseback 10 Canal Pl 2,227 SF Retail Building Philadelphia, MS 39350 $1,122,047 ($503.84/SF) 6.35% Cap Rate
Investment Highlights
- Brand-New 25-Year Absolute NNN Lease (Zero Landlord Obligations) – Lease commences at COE; Tenant is responsible for taxes, insurance, maintenance
- Best-in-Class Franchisee / Guarantor – WAC Enterprises (guarantor) is a 96+ unit operator with a long operating history and demonstrated discipline
- Front-Row Outparcel Positioning at Canal Place – Canal Place Shopping Center out-parcel with strong frontage on the primary retail strip
- Embedded Rent Growth – 1% annual escalations beginning Year 6 and continuing through the option periods
- Drive-Thru Format = Highest-Liquidity QSR Real Estate – Highly functional configuration aligns with the most in-demand institutional QSR format
- Destination Demand Driver Nearby (Casino/Resort Proximity) – Located within the immediate vicinity of the Philadelphia, MS casino and resort
Executive Summary
CBRE is pleased to present the exclusive offering of the Krystal located at 10 Canal Place in Philadelphia, MS, consisting of a 2,227±SF freestanding building on 0.42± acres. The property will be subject to a new 25-year lease commencing at Close of Escrow, with $71,250 in year-one base rent and 1% annual escalations beginning in Year 6 throughout the four five-year renewal options (45-year potential term total).
The site is positioned along a primary retail arterial surrounded by national and local retailers including Walmart, Lowe’s, Walgreens, McDonald’s, Wendy’s, and Dollar General. Additionally, the property benefits from proximity to Pearl River Resort, a major regional gaming and hospitality complex approximately 3± miles east along Hwy 16, which serves as the largest employer in Neshoba County and provides durable daily demand from employees, visitors, and the surrounding tribal community — supporting long-term QSR performance.
The site is positioned along a primary retail arterial surrounded by national and local retailers including Walmart, Lowe’s, Walgreens, McDonald’s, Wendy’s, and Dollar General. Additionally, the property benefits from proximity to Pearl River Resort, a major regional gaming and hospitality complex approximately 3± miles east along Hwy 16, which serves as the largest employer in Neshoba County and provides durable daily demand from employees, visitors, and the surrounding tribal community — supporting long-term QSR performance.
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
2,227 SF
Building Class
C
Year Built
2000
Price
$1,122,047
Price Per SF
$503.84
Cap Rate
6.35%
NOI
$71,250
Tenancy
Single
Building Height
1 Story
Building FAR
1.31
Lot Size
0.04 AC
Zoning
Commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 2,227 SF
- -
- Triple Net
- -
Krystal was established in 1932 in Chattanooga, Tennessee, during the Great Depression by Rody Davenport Jr. and J. Glenn Sherrill. The founders believed people would support a clean restaurant offering quality food at low prices. The chain became famous for its small, square hamburgers called sliders and Southern comfort food. Krystal expanded throughout the Southeastern United States and now operates as a subsidiary of SPB Hospitality. The company continues to serve its signature steamed-onion burgers alongside breakfast items, chicken, and desserts across numerous locations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 2,227 SF | - | Triple Net | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 05200-35-008.008 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $39,021 |
Property Taxes
Parcel Number
05200-35-008.008
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$39,021
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
