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Krystal's | New 25-Year Sale-leaseback 10 Canal Pl 2,227 SF Retail Building Philadelphia, MS 39350 $1,530,091 CAD ($687.06 CAD/SF) 6.35% Cap Rate

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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.

Property Facts

Sale Type

Investment NNN

Sale Condition

Sale Leaseback

Property Type

Retail

Property Subtype

Fast Food

Building Size

2,227 SF

Building Class

Year Built

2000

Price

$1,530,091 CAD

Price Per SF

$687.06 CAD

Cap Rate

6.35%

NOI

$97,161 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

1.31

Lot Size

0.04 AC

Zoning

Commercial

Major Tenants

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.