GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2581 King Mill Pike, Bristol, 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 | $92,631 |
| Base rent $/SF | $35.05 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2000 |
| Building SF | 2,643 |
| Land area (acres) | 0.43 |
| Pre G&A CFC | 1.78x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 13,887 | 25,275 |
| Households | 0 | 5,930 | 10,684 |
| Pop. density (/sq mi) | 0 | 491 | 322 |
| Avg HH income | — | $68,050 | $68,960 |
| Poverty rate | — | 15.9% | 15.8% |
| Bachelor's+ | — | 25.9% | 23.8% |
| Median home value | — | $170,261 | $177,067 |
| Median rent | — | $797 | $831 |
| Median age | — | 42 | 45 |
| Owner-occupied | — | 65.2% | 71.7% |
This FasMart convenience store and gas station at 2581 King Mill Pike, Bristol, VA is a 2,643 SF net lease asset on 0.43 acres with 1.2 years of remaining term and a single renewal option. The site earns a location grade of STRONG (58/100), supported by zero direct fuel competition within one mile and a publicly traded guarantor, though near-term lease expiration and modest traffic counts temper the investment thesis.
The immediate one-mile radius shows no reported population, indicating a sparse residential catchment directly adjacent to the site, while the three-mile ring captures 13,887 residents at an average household income of $68,050 and a 65.2% owner-occupancy rate. The five-mile trade area expands to 25,275 residents, but a poverty rate of approximately 15.9% across both rings suggests a value-oriented consumer base with limited discretionary spending.
Bristol city county is a declining small metro, shedding 987 residents between 2020 and 2024, a 5.7% population loss, with a total employment base of only 7,379 workers across 531 establishments. Unemployment sits at a manageable 3.3%, but the shrinking population base limits long-term demand growth for fuel and convenience retail at this location.
Traffic at 7,800 vehicles per day is below the threshold typically associated with high-volume fuel sites, and a Walk Score of 8 confirms near-total auto dependency. Proximity to daytime employment is modest, with 958 jobs within one mile and 9,339 within three miles, providing limited commuter-capture upside.
The site is located in FEMA Flood Zone X, indicating minimal flood exposure. State-level violent and property crime data were not available for this analysis. No material environmental or discount-store competitive threats were identified within the immediate trade area.
With only 1.2 years of term remaining and a renewal notice deadline of March 2027, a buyer acquires near-immediate rollover risk rather than stabilized cash flow. Current rent of $92,631 ($35.05/SF) provides a known income stream, but no rent at expiration data is available, creating pricing uncertainty for the renewal period. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides meaningful credit quality, but that guarantor strength does not eliminate the risk that the tenant elects not to exercise its single remaining renewal option. Buyers should underwrite a lease-up or vacancy scenario.
Full institutional offering memorandum with all 156 property briefs, maps, and tax analysis.
Download full OM (PDF)