1225 N 12th St
Middlesboro, KY 40965
Krystal | 20-Yr NNN | Walmart Outparcel · Retail Property For Sale

The subject property is a 2,580 +/- sf freestanding NNN Krystal restaurant located on 12th Street as an out-parcel to Walmart Supercenter in Middlesboro, KY. Middlesboro is located approximately 60 miles north of Knoxville. In addition to being a Walmart Supercenter out-parcel, other nearby traffic generators include: Belk, AMC, Kroger, Save-A-Lot, Goodwill, Aspen Dental/Cricket, Holiday Inn Express, Cracker Barrel, Sagebrush, Wendy’s, Taco Bell, and Arby’s. Middlesboro is located 1 mile west of the Cumberland Gap and is the largest city in southeastern Kentucky. It is located entirely between Pine Mountain and the Cumberland Mountains in the Middlesboro basin, an enormous meteorite crater. The Knoxville MSA is the third largest market in Tennessee after Nashville and Memphis and currently has a population of approximately 880,000 residents. The local economy centers primarily around economic hubs created by the University of Tennessee and Great Smokey Mountain tourism. The University of Tennessee has nearly 29,000 students and 6,500 employees and it is estimated the school has a $1.7 billion-dollar impact on the state’s economy. The Great Smokey Mountain tourism includes nearby Pigeon Forge and Dollywood park, which hosts approximately 3 million tourists in a season. The tenant, WAC Enterprises, Inc., signed a new 20-year NNN Lease on August 26, 2019 which includes 1.33% annual escalations during the initial term starting LY6 and 1.0% annual escalations during the four (4), five (5) year option periods. WAC Enterprises currently operates 49 locations throughout six (6) southeastern states after recently adding 16 locations. They are the largest Krystal franchisee in the system and are headquartered in Chattanooga, TN.