GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1800 Monticello Road, Charlottesville, VA
| Tenant / d/b/a | Every Day Shop & Cafe |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 26, 2011 |
| Lease expiration | May 31, 2031 |
| Remaining term | 4.9 yrs |
| Lease term (months) | — |
| Annual base rent | $176,640 |
| Base rent $/SF | $78.16 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/4 |
| Notice date | Nov 02, 2030 |
| Year built | 1995 |
| Building SF | 2,260 |
| Land area (acres) | 0.52 |
| Pre G&A CFC | 3.21x (2023) |
| Lease status | Active |
Charlottesville is home to the University of Virginia and Monticello — a major university plus heavy heritage tourism. Student and visitor demand supplement the resident base.
The location score above reflects resident-market real-estate fundamentals and does not incorporate seasonal or destination demand; consider this note alongside the store-level coverage (CFC) when assessing the asset.
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 7,831 | 61,332 | 97,336 |
| Households | 3,574 | 24,292 | 40,358 |
| Pop. density (/sq mi) | 2,493 | 2,169 | 1,239 |
| Avg HH income | $108,433 | $105,697 | $112,479 |
| Poverty rate | 14.4% | 20.5% | 15.8% |
| Bachelor's+ | 51.0% | 61.2% | 60.5% |
| Median home value | $358,752 | $450,574 | $452,996 |
| Median rent | $1,122 | $1,489 | $1,561 |
| Median age | 39 | 32 | 35 |
| Owner-occupied | 55.8% | 39.5% | 45.7% |
This Fas Mart-branded convenience store and gas station at 1800 Monticello Road, Charlottesville, Virginia, carries an Excellent location grade of 73/100 and benefits from a corporate-guaranteed net lease running through May 2031. The property sits on a half-acre pad with zero direct fuel competitors within a half-mile, serving a dense, high-income trade area anchored by the University of Virginia. At 4.9 years of remaining term and $176,640 in annual base rent, the asset offers near-term income stability with manageable rollover exposure.
The one-mile ring posts average household income of $108,433 against a population of 7,831, and the three-mile trade area expands to 61,332 residents with a bachelor's degree attainment rate of 61.2 percent, reflecting the University of Virginia's outsized influence. Median home values reach $450,574 at three miles, and daytime employment within three miles totals nearly 62,000 jobs, underpinning consistent fuel and convenience demand throughout the day.
Charlottesville is a sub-250,000 metro that has experienced modest population contraction of 3.6 percent between 2020 and 2024, though unemployment sits at a tight 2.3 percent and the local economy remains anchored by the university, healthcare, and government sectors. The presence of 46 EV charging stations within five miles is an early but measurable signal of energy transition pressure on fuel volumes over the medium term.
The site sits 0.08 miles from a major road corridor with 13,000 vehicles per day in average daily traffic and faces no competing fuel stations within a half-mile, creating a localized captive-demand dynamic. A Walk Score of 55 and Transit Score of 30 indicate automobile dependency, which is appropriate for a fuel and convenience format but limits any mixed-use or pedestrian-driven upside.
The property is situated in FEMA Flood Zone X, indicating minimal flood hazard and no material environmental exposure on that dimension. The 46 EV charging stations within five miles and the broader electrification trend represent a structural, long-horizon headwind to per-gallon fuel volumes. Charlottesville's population has declined 3.6 percent since 2020, introducing modest demand-side uncertainty beyond the current lease term.
With 4.9 years of remaining term, a buyer acquires defined near-term cash flow at $176,640 annually but faces a renewal decision by November 2, 2030, with only one four-year option available and no disclosed rent at expiration, creating residual value uncertainty. GPM Investments, LLC, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides institutional-grade credit support that meaningfully reduces default risk during the holding period. The absence of disclosed escalations limits income growth, and a buyer must underwrite re-tenanting or renewal risk at a competitive convenience corridor with three stations within one mile.
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