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10 Canal Pl
Philadelphia, MS 39350
Krystal's | New 25-Year Sale-leaseback · Retail Property For Sale
Investment Highlights
- Canal Place Shopping Center Out-Parcel with Strong frontage on the Main Strip
- Tenant will sign a Fresh 25-Year Absolute NNN Lease at Close of Escrow Featuring 1% Escalations beginning year 6
- Positioned within the immediate vicinity of the Philadelphia, MS Casino and Resort
- WAC Enterprises (96± Unit Operator) is in a healthy and powerful growth model continuing it’s climb as the first ever & largest franchisee of Krystal
- Highly Functional Rapid Speed Drive-Thru Location
Executive Summary
CBRE is pleased to present the exclusive listing for the Krystal located at 10 Canal Place in Philadelphia, MS. The site consists of 2,227 total square feet of building space and sits on .042 acres of land. The site will be subject to a 25-year lease commencing at Close of Escrow. Starting in year one, the base rent shall be $71,250. The lease will call for 1% rental escalations each year starting in year 6 and throughout the four (4), five-year renewal option periods (45-year potential total term).
The subject property benefits from being located in a main arterial retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. The following major tenants are in the immediate area of the subject property; Dollar General, Lowes, Walmart, Walgreens, Hibbet Sports, Shoe Dep., McDonalds, Wendy’s, as well as many more.
The subject property benefits from being located in a main arterial retail corridor surrounded by national and local tenants, shopping centers and hospitality accommodations. The following major tenants are in the immediate area of the subject property; Dollar General, Lowes, Walmart, Walgreens, Hibbet Sports, Shoe Dep., McDonalds, Wendy’s, as well as many more.
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
$1,158,536
Price Per SF
$520.22
Cap Rate
6.15%
NOI
$71,250
Tenancy
Single
Building Height
1 Story
Building FAR
1.31
Lot Size
0.04 AC
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
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