10 Canal Pl - Fast Food FOR SALE


Philadelphia, MS 39350
$1,122,047 USD
631-903-7137
10 Canal Pl, Philadelphia, MS for Sale
$1,122,047 USD
Fast Food - FOR SALE
1/3
null | 6.35% Cap Rate

10 Canal Pl
Philadelphia, MS 39350


HIGHLIGHTS

  • Brand-New 25-Year Absolute NNN Lease (Zero Landlord Obligations) – Lease commences at COE; Tenant is responsible for taxes, insurance, maintenance
  • Embedded Rent Growth – 1% annual escalations beginning Year 6 and continuing through the option periods
  • Best-in-Class Franchisee / Guarantor – WAC Enterprises (guarantor) is a 96+ unit operator with a long operating history and demonstrated discipline
  • Drive-Thru Format = Highest-Liquidity QSR Real Estate – Highly functional configuration aligns with the most in-demand institutional QSR format
  • Front-Row Outparcel Positioning at Canal Place – Canal Place Shopping Center out-parcel with strong frontage on the primary retail strip
  • Destination Demand Driver Nearby (Casino/Resort Proximity) – Located within the immediate vicinity of the Philadelphia, MS casino and resort

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,122,047 USD

PRICE/SF

$572 USD /SF

CAP RATE

6.35%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Krystal's | New 25-Year Sale-leaseback

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,706 SF

ZONING

Commercial

APN/PARCEL ID

05200-35-008.008

ASK ABOUT THIS PROPERTY

631-903-7137

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631-903-7137

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