GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2729 N John B Dennis Hwy, Kingsport, TN
| 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 | $53,649 |
| Base rent $/SF | $18.29 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2006 |
| Building SF | 2,934 |
| Land area (acres) | 0.45 |
| Pre G&A CFC | 2.81x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 29,342 | 60,153 |
| Households | 0 | 12,860 | 26,129 |
| Pop. density (/sq mi) | 0 | 1,038 | 766 |
| Avg HH income | — | $74,275 | $76,347 |
| Poverty rate | — | 23.9% | 19.9% |
| Bachelor's+ | — | 23.3% | 26.2% |
| Median home value | — | $190,157 | $195,137 |
| Median rent | — | $866 | $811 |
| Median age | — | 43 | 43 |
| Owner-occupied | — | 61.0% | 66.4% |
This FasMart convenience store and gas station at 2729 N John B Dennis Hwy in Kingsport, Tennessee is a single-tenant net lease asset graded Strong (63/100) with 1.4 years of remaining term. The property sits on a 0.4-acre pad built in 2006, occupied by a GPM Investments-guaranteed tenant under a lease expiring November 30, 2027. Near-term rollover risk dominates the investment thesis.
The immediate 1-mile trade area returns zero populated residents in the data, suggesting an industrial or transitional land use pattern immediately surrounding the site. The 3-mile ring holds 29,342 residents with average household income of $74,275 and a 23.9% poverty rate, indicating a moderate-income consumer base with meaningful economic stress. The 5-mile population of 60,153 at $76,347 average household income provides adequate fuel and convenience demand at the corridor level.
Sullivan County is a stable mid-scale metro market with 162,703 residents growing 2.8% since 2020 and an unemployment rate of 3.4%, consistent with national averages. The county supports 3,343 establishments and 58,951 employees, reflecting a diversified but not high-growth economic base. Kingsport is a secondary Appalachian city without significant population acceleration, limiting organic rent growth expectations.
The site fronts a major road at 0.00 miles to the nearest arterial and benefits from 15,602 daytime workers within 3 miles, supporting fuel and convenience traffic. However, Walk Score of 35 and Transit Score of 0 confirm full car dependency, and the presence of 3 competing gas stations within 1 mile creates meaningful pump-price sensitivity. With only 7 nearby restaurants and 7 retail destinations within 1 mile, the trade area lacks the density and co-tenancy to drive premium convenience volumes.
The FEMA flood designation is Zone X, indicating minimal flood hazard and no environmental premium on insurance. State-level crime data is unavailable, limiting a complete risk underwrite. EV charging penetration is low at 2 stations within 5 miles, reducing near-term demand displacement risk but not eliminating long-run fuel volume concerns.
With only 1.4 years remaining and a notice deadline of March 1, 2027, a buyer faces immediate lease rollover exposure. Current rent of $53,649 annually ($18.29 per square foot) is modest, and no rent-at-expiration figure is available to assess embedded growth. The single renewal option provides limited contractual runway. GPM Investments, as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit support, but that credit quality does not eliminate the operational decision ARKO will make on renewal near-term.
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