GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
409 Quillen Ave SE, Coeburn, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $58,091 |
| Base rent $/SF | $20.01 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1992 |
| Building SF | 2,903 |
| Land area (acres) | 0.61 |
| Pre G&A CFC | 0.60x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 409 Quillen Ave SE |
Coeburn is an ATV-friendly town and a Spearhead Trails Mountain View trailhead access point (400+ miles of OHV trails), drawing off-road recreation tourism beyond 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 | 0 | 6,204 | 6,204 |
| Households | 0 | 2,488 | 2,488 |
| Pop. density (/sq mi) | 0 | 219 | 79 |
| Avg HH income | — | $62,013 | $62,013 |
| Poverty rate | — | 17.0% | 17.0% |
| Bachelor's+ | — | 15.7% | 15.7% |
| Median home value | — | $110,774 | $110,774 |
| Median rent | — | $660 | $660 |
| Median age | — | 42 | 42 |
| Owner-occupied | — | 73.3% | 73.3% |
FasMart Store #2532 at 409 Quillen Ave SE, Coeburn, VA is a 2,903 SF convenience store and gas station on 0.61 acres, graded Average (40/100). The asset offers minimal remaining lease term of 1.4 years and limited demographic depth in a rural Appalachian market, making this a near-term rollover play rather than a stable income hold.
The 1-mile trade area is effectively uninhabited, with all meaningful population concentrated in the 3-mile ring at 6,204 residents and a density of just 219 per square mile. Average household income of $62,013 is modest and a 17.0% poverty rate signals limited consumer spending power. Population is flat between the 3-mile and 5-mile rings, indicating no meaningful suburban growth buffer.
Coeburn sits in Wise County, a nonmetro Appalachian market with no major metro adjacency and a contracting population base, down 3.0% from 2020 to 2024. The broader county supports only 598 business establishments and 7,678 employees, reflecting a thin local economy. These structural headwinds constrain organic retail demand growth and limit the pool of alternative tenants or buyers in a re-tenanting scenario.
Site traffic is extremely low at 1,200 vehicles per day, and the Walk Score of 30 confirms heavy car dependency with negligible foot traffic. Three competing gas stations exist within one mile, intensifying capture-rate pressure relative to the site's modest throughput. The location's proximity of 0.11 miles to the nearest major road provides minor accessibility credit, but it does not offset the thin traffic base.
Lease expiration in November 2027 creates near-term rollover risk with a mandatory renewal notice deadline of March 2027. FEMA Flood Zone X indicates minimal environmental exposure. No EV charging infrastructure within five miles offers no near-term electrification threat but also signals limited infrastructure investment in the corridor.
With only 1.4 years of term remaining and rent fixed at $58,091 annually ($20.01/SF) through expiration, a buyer acquires limited contractual income runway before facing a binary renewal decision. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator with roughly 3,500 locations, provides meaningful credit quality relative to the asset size, but ARKO's broader portfolio rationalization history means renewal of a low-traffic rural unit carries genuine uncertainty. One renewal option remains, but the notice date of March 2027 is imminent, compressing a new buyer's diligence window on tenant intent.
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