GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
25 Fords Creek Road, Honaker, 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 | $170,645 |
| Base rent $/SF | $32.76 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2000 |
| Building SF | 5,209 |
| Land area (acres) | 0.92 |
| Pre G&A CFC | 2.24x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 5,458 |
| Households | 0 | 0 | 2,314 |
| Pop. density (/sq mi) | 0 | 0 | 69 |
| Avg HH income | — | — | $64,462 |
| Poverty rate | — | — | 13.9% |
| Bachelor's+ | — | — | 8.5% |
| Median home value | — | — | $102,311 |
| Median rent | — | — | $678 |
| Median age | — | — | 47 |
| Owner-occupied | — | — | 73.2% |
This FasMart convenience store and gas station at 25 Fords Creek Road, Honaker, VA earned a location grade of 19 out of 100, reflecting a deeply rural, low-traffic setting with minimal population density and significant demographic constraints. The asset offers approximately 1.2 years of remaining lease term backed by GPM Investments, a subsidiary of publicly traded ARKO Corp. Near-term lease rollover is the dominant risk for any prospective buyer.
The immediate 1-mile and 3-mile trade areas register zero reportable population, underscoring the site's isolation. The 5-mile radius captures only 5,458 residents at a density of 69 per square mile, with average household income of $64,462 and a poverty rate of 13.9%, both indicative of a constrained consumer base with limited discretionary spending capacity.
Russell County is a nonmetro, rural, metro-adjacent market that has shed population from 25,756 in 2020 to 25,420 in 2024, a 1.3% decline. The county's 451 total establishments and 5,648 employees signal a thin economic base. Traffic at the site is 2,600 vehicles per day, well below thresholds typically associated with viable freestanding convenience retail.
The site scores a Walk Score of 21 and a Bike Score of 12, confirming total automobile dependence with no meaningful pedestrian capture. Despite proximity of 0.02 miles to the nearest major road, low AADT severely limits throughput. Four competing gas stations within one mile further compress the addressable customer pool.
The site carries a FEMA Zone X designation, representing minimal flood hazard and no material environmental exposure on that front. However, the combination of stagnant rural demographics, population decline, and zero EV charging infrastructure within five miles introduces structural obsolescence risk over a longer hold. No state-level crime data was available for independent assessment.
With only 1.2 years remaining before the November 2027 expiration, a buyer faces immediate rollover risk and must underwrite the probability that GPM either exercises its single remaining renewal option or vacates. The notice deadline of March 2027 leaves a narrow window for clarity. Current rent of $170,645 annually ($32.76 per square foot) provides no disclosed step-up at expiration, creating income uncertainty. GPM Investments carries the institutional weight of ARKO Corp., a Nasdaq-listed, SEC-reporting operator of approximately 3,500 sites, which supports near-term covenant quality but does not mitigate site-level obsolescence risk post-term.
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