GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
504 Laurel Ave, 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 | $108,003 |
| Base rent $/SF | $23.39 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1999 |
| Building SF | 4,618 |
| Land area (acres) | 0.62 |
| Pre G&A CFC | 1.18x (2024) |
| Lease status | Active |
Coeburn is an ATV-friendly town and a Spearhead Trails Mountain View trailhead access point, 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 | 11,372 |
| Households | 0 | 2,488 | 4,582 |
| Pop. density (/sq mi) | 0 | 219 | 145 |
| Avg HH income | — | $62,013 | $65,602 |
| Poverty rate | — | 17.0% | 17.2% |
| Bachelor's+ | — | 15.7% | 18.4% |
| Median home value | — | $110,774 | $122,329 |
| Median rent | — | $660 | $774 |
| Median age | — | 42 | 40 |
| Owner-occupied | — | 73.3% | 74.2% |
FasMart Store #2542 at 504 Laurel Ave, Coeburn, VA is a 4,618 SF gas station and convenience store leased through November 2027, offering just 1.4 years of remaining term with one renewal option. The site scores a weak 37 out of 100 on location quality, reflecting thin traffic counts, rural density, and a challenged trade area. This is a near-term rollover story in a structurally declining market, appropriate only for buyers with a clear re-leasing or exit thesis.
The immediate one-mile population registers zero, indicating the store draws from a broader rural catchment; the three-mile population is 6,204 at a sparse density of 219 persons per square mile. Average household income of $62,013 within three miles is below national norms, and a 17% poverty rate signals constrained discretionary spending. These metrics offer limited organic revenue growth and leave the site exposed to any further regional economic softening.
Wise County is a nonmetro, non-adjacent county that shed roughly 3% of its population between 2020 and 2024, a trajectory consistent with broader Appalachian regional decline. The local employment base is modest at 7,678 total workers across 598 establishments, and the area lacks interstate-level commercial traffic generators. Long-term demand fundamentals for convenience retail in this submarket are unfavorable.
AADT of just 1,000 vehicles per day is critically low for a fuel and convenience concept; most institutionally underwritten gas stations require multiples of this volume. A Walk Score of 39 confirms deep car dependency without compensating traffic density, and five competing gas stations within one mile create meaningful share erosion risk.
The site sits within a FEMA AE Flood Zone designated as a floodway, representing the highest flood hazard classification and potentially restricting future improvements or financing. Zero EV charging stations within five miles offers no alternative revenue stream as fleet electrification accelerates. County population decline of 3% over four years, combined with a 17% poverty rate, points to structural demand headwinds that will persist beyond the current lease term.
With 1.4 years of term remaining and a March 2027 notice deadline for the single remaining renewal option, a buyer acquires near-certain rollover risk at close. Annual base rent of $108,003 provides income during hold, but the absence of stated rent at expiration makes terminal value opaque. GPM Investments, backed by Nasdaq-listed ARKO Corp., provides a credible investment-grade-adjacent guarantor, which is the deal's primary institutional merit, but that credit quality cannot offset site-level obsolescence risk at lease end.
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