GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
108 2nd St SW, 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 | $97,559 |
| Base rent $/SF | $17.75 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2002 |
| Building SF | 5,497 |
| Land area (acres) | 0.94 |
| Pre G&A CFC | 0.25x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 108 2nd St SW |
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 | 3,940 | 11,372 |
| Households | 0 | 1,507 | 4,582 |
| Pop. density (/sq mi) | 0 | 139 | 145 |
| Avg HH income | — | $56,437 | $65,602 |
| Poverty rate | — | 13.7% | 17.2% |
| Bachelor's+ | — | 14.8% | 18.4% |
| Median home value | — | $102,600 | $122,329 |
| Median rent | — | $644 | $774 |
| Median age | — | 35 | 40 |
| Owner-occupied | — | 69.2% | 74.2% |
FasMart Store #2548 at 108 2nd St SW in Coeburn, Virginia is a 5,497 SF convenience store and gas station on 0.94 acres built in 2002, leased through November 2027 with 1.4 years of remaining term. The site scores 26 out of 100 on location grade, reflecting thin trade-area demographics, low traffic counts, and meaningful near-term lease rollover exposure. This is a value-add or repositioning play, not a stabilized income asset.
The immediate one-mile ring reports no measurable population, and the three-mile ring captures only 3,940 residents at a sparse density of 139 per square mile with average household income of $56,437 and median home values of $102,600. Poverty rates run 13.7% at three miles and climb to 17.2% at five miles, indicating limited consumer spending depth. These are among the weakest demand fundamentals typically associated with a viable convenience retail trade area.
Coeburn sits in Wise County, a nonmetro Appalachian market that shed 3.0% of its population between 2020 and 2024, declining to 34,973 residents. The county supports only 598 total establishments and 7,678 employees, suggesting a structurally constrained local economy with limited absorption capacity for retail real estate. Secular population decline increases the probability that rollover risk translates into vacancy rather than a re-tenanting event.
The site sits 0.01 miles from the nearest major road and benefits from some visibility, but AADT of only 4,300 vehicles per day is well below thresholds that support healthy convenience store volumes. A Walk Score of 31 confirms full car dependency, and the presence of five competing gas stations within one mile creates meaningful price and volume pressure on the operator.
The site falls within a FEMA AE high-risk flood zone, representing a 1% annual chance of inundation, which introduces insurance cost and capital expenditure uncertainty. State-level crime statistics were unavailable for this analysis, limiting a full underwriting picture. Zero EV charging stations within five miles may insulate near-term fuel volumes but also signals an infrastructure gap in a market with limited reinvestment capacity.
With only 1.4 years of term remaining and a notice deadline of March 2027, a buyer acquires essentially a rollover situation, not durable income. The current rent of $97,559 annually provides no rent growth benchmark since expiration rent is undisclosed, making re-leasing economics difficult to underwrite with confidence. GPM Investments as guarantor, backed by publicly traded ARKO Corp., the sixth-largest U.S. convenience operator, provides a meaningful credit backstop, but that credit does not offset a weak location that an operator of scale may elect to vacate in a portfolio rationalization context.
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