GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
330 Wadlow Gap Rd, Gate City, 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 | $146,286 |
| Base rent $/SF | $28.06 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1995 |
| Building SF | 5,213 |
| Land area (acres) | 1.12 |
| Pre G&A CFC | 0.53x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | — |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 4,160 |
| Households | 0 | 0 | 1,606 |
| Pop. density (/sq mi) | 0 | 0 | 53 |
| Avg HH income | — | — | $62,687 |
| Poverty rate | — | — | 20.1% |
| Bachelor's+ | — | — | 11.0% |
| Median home value | — | — | $124,600 |
| Median rent | — | — | $802 |
| Median age | — | — | 41 |
| Owner-occupied | — | — | 70.3% |
330 Wadlow Gap Rd is a 5,213 SF FasMart convenience store and gas station in Gate City, Virginia, occupied by GPM Investments under a lease expiring November 30, 2027, leaving only 1.2 years of remaining term. The site scores a weak 29 out of 100 on location quality, reflecting extremely thin population density and limited surrounding economic activity. This is a near-term rollover story with modest underlying real estate fundamentals.
The 1-mile and 3-mile trade areas report zero measurable population, indicating the site sits in a rural corridor with no meaningful residential catchment at close range. The 5-mile population of 4,160 at a density of just 53 persons per square mile, paired with a 20.1 percent poverty rate and average household income of $62,687, represents a thin and economically constrained consumer base. These demographics offer little support for rent growth or alternative retail use in a vacancy scenario.
Scott County is a rural Virginia market with a 2020-to-2024 population decline of 0.9 percent and only 247 total business establishments employing 3,768 workers. Despite a 3.3 percent unemployment rate, the local economy is narrow, with limited retail and food service infrastructure. There are no EV charging stations within five miles, reflecting the area's infrastructure stage and insulating the fuel business modestly in the near term.
The site sits 0.01 miles from the nearest major road with an AADT of 9,200 vehicles per day, providing the primary traffic driver for a convenience store format in a low-density rural setting. However, three competing gas stations exist within half a mile, representing significant direct competition relative to the thin customer base. A Walk Score of 1 and zero nearby restaurants within one mile confirm that this location is entirely auto-dependent with minimal retail synergy.
Flood zone designation is Zone X, indicating minimal flood hazard. Crime statistics at the state level were not available for benchmarking. No additional environmental or zoning concerns were flagged in the provided data.
With 1.2 years of remaining term and a March 2027 notice deadline for the single renewal option, a buyer acquires near-immediate rollover risk. The current rent of $146,286 annually ($28.06 per square foot) has no disclosed escalation to expiration, and rent at renewal is unspecified, making income trajectory uncertain. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator, provides investment-grade-adjacent credit quality that partially offsets thin real estate fundamentals, but the short runway demands buyers underwrite the renewal or vacancy scenario aggressively before closing.
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