GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1629 Raible Ave, Anderson, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2027 |
| Remaining term | 0.9 yrs |
| Lease term (months) | — |
| Annual base rent | $102,477 |
| Base rent $/SF | $33.53 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2026 |
| Year built | 1987 |
| Building SF | 3,056 |
| Land area (acres) | 4.34 |
| Pre G&A CFC | 1.39x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 8,911 | 39,340 | 58,394 |
| Households | 3,599 | 15,877 | 25,127 |
| Pop. density (/sq mi) | 2,836 | 1,391 | 743 |
| Avg HH income | $62,519 | $64,723 | $65,112 |
| Poverty rate | 18.9% | 19.7% | 19.4% |
| Bachelor's+ | 15.6% | 17.1% | 16.8% |
| Median home value | $97,694 | $104,809 | $112,238 |
| Median rent | $1,006 | $919 | $939 |
| Median age | 33 | 36 | 39 |
| Owner-occupied | 59.5% | 56.9% | 57.4% |
This Village Pantry convenience store and gas station at 1629 Raible Ave, Anderson, IN carries a Location Grade of STRONG (65/100) within a modest but stable Midwest market. The asset benefits from zero direct fuel competition within a half-mile and a publicly traded guarantor, but near-term lease expiration in May 2027 creates meaningful rollover risk that will dominate buyer underwriting.
The immediate trade area supports a population of 8,911 within one mile and 39,340 within three miles, with average household incomes ranging from $62,519 to $65,112 across radii. Poverty rates of approximately 19 to 20 percent across all radii indicate a price-sensitive consumer base with limited upside for rent growth. Median home values of $104,809 within three miles confirm a working-class catchment consistent with convenience retail but not premium fuel margins.
Anderson sits within Madison County, which recorded modest population growth of 3.1 percent from 2020 to 2024 and a healthy unemployment rate of 3.6 percent, suggesting labor market stability. The county supports 2,342 total establishments and 34,031 employees, providing a functional but unspectacular commercial base. Daytime employment density within one mile is thin at 569 jobs, limiting commuter-driven fuel and convenience traffic.
Daily traffic of 9,281 vehicles is below the threshold typically favored for high-volume fuel sites, and the day-to-night population ratio of 0.06 reflects limited daytime activity in the immediate vicinity. The site benefits from a Walk Score of 57 and proximity to 11 restaurants and 9 retail destinations within one mile, offering modest co-tenancy. Highway proximity of 0.17 miles provides some pass-through exposure, partially compensating for the lower AADT.
Flood risk is minimal under FEMA Zone X designation. The absence of state crime data limits a full safety assessment, though no acute red flags were identified in the local context. EV charging infrastructure within five miles remains minimal at two stations, presenting a longer-term demand disruption risk for fuel-dependent convenience formats.
With only 0.9 years of remaining term and a renewal notice deadline of September 2026, a buyer is acquiring near-term rollover exposure rather than durable income. Current rent of $102,477 annually provides no contractual escalation visibility through expiration, and rent at expiration is undisclosed, leaving renewal economics unresolved. The single five-year renewal option provides optionality but no certainty. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, offers institutional-grade credit backing, which partially offsets the lease risk. Buyers should underwrite renewal probability carefully against local site economics.
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