GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
18962 Route 58, Castlewood, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.2 yrs |
| Lease term (months) | — |
| Annual base rent | $134,107 |
| Base rent $/SF | $37.60 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1993 |
| Building SF | 3,567 |
| Land area (acres) | 1.65 |
| Pre G&A CFC | 0.06x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | Castlewood Dental Group |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 7,217 |
| Households | 0 | 0 | 2,808 |
| Pop. density (/sq mi) | 0 | 0 | 92 |
| Avg HH income | — | — | $61,340 |
| Poverty rate | — | — | 23.2% |
| Bachelor's+ | — | — | 14.7% |
| Median home value | — | — | $104,579 |
| Median rent | — | — | $761 |
| Median age | — | — | 43 |
| Owner-occupied | — | — | 78.2% |
FasMart Store #2533 at 18962 Route 58 in Castlewood, VA is a 3,567 SF convenience store and gas station on 1.65 acres, leased through November 2027 to GPM Investments, generating $134,107 in annual base rent. The site scores 31 out of 100 on location grade, reflecting a rural, low-density trade area with materially constrained population and income fundamentals. This is a short-term income play with meaningful rollover risk rather than a core net lease holding.
Within five miles, population totals just 7,217 at a density of 92 persons per square mile, with average household income of $61,340 and a poverty rate of 23.2%. One- and three-mile rings return zero measurable population, confirming an extremely sparse immediate trade area. These metrics rank well below national net lease thresholds and limit the site's long-term retailer demand.
Russell County is a nonmetro, rural, metro-adjacent market that lost 1.3% of its population between 2020 and 2024, with only 451 total business establishments and 5,648 employees countywide. Daytime employment within three miles is just 812 workers, producing a thin captive customer base for fuel and convenience purchases. The AADT of 9,700 vehicles per day provides the most credible demand driver, supported by the site's 0.02-mile proximity to a major road.
The site carries a Walk Score of 25 and a Bike Score of 9, confirming full auto dependency with no meaningful pedestrian or transit demand. Nearby amenity density is minimal, with four restaurants and six retail outlets within one mile. Two competing gas stations within half a mile represent a direct competitive headwind in an already thin-volume corridor.
The property falls in FEMA Flood Zone X, indicating minimal flood exposure. No EV charging infrastructure exists within five miles, which is a near-term neutral but a longer-term demand risk as electrification accelerates. State-level crime data was unavailable for independent assessment.
With only 1.2 years of remaining term and a March 2027 renewal notice deadline, a buyer acquires limited contractual income before facing a binary renewal decision. The tenant holds one of two renewal options, so rollover risk is real and near-term. Rent at expiration is unspecified, removing visibility into renewal economics. GPM Investments, backed by publicly traded ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides credible institutional credit quality, but that guarantee does not offset the site's weak location fundamentals if GPM elects to exit at expiration.
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