GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
6615 W Main St, Wise, VA
| 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 | $115,835 |
| Base rent $/SF | $31.84 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1999 |
| Building SF | 3,638 |
| Land area (acres) | 0.58 |
| Pre G&A CFC | 0.93x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 4,106 | 4,106 | 14,804 |
| Households | 1,677 | 1,677 | 6,165 |
| Pop. density (/sq mi) | 1,307 | 145 | 188 |
| Avg HH income | $68,829 | $68,829 | $64,580 |
| Poverty rate | 14.9% | 14.9% | 18.0% |
| Bachelor's+ | 23.3% | 23.3% | 19.0% |
| Median home value | $111,400 | $111,400 | $117,389 |
| Median rent | $779 | $779 | $799 |
| Median age | 38 | 38 | 40 |
| Owner-occupied | 81.5% | 81.5% | 72.2% |
FasMart Store #2523 at 6615 W Main St, Wise, VA is a 3,638 SF convenience store and gas station on 0.58 acres, leased to GPM Investments through November 2027 at $115,835 annually. The site earns an average location grade of 55/100, reflecting modest traffic, thin daytime employment density, and a shrinking rural market. This is a short-duration income play with near-term rollover risk in a structurally declining county.
The immediate trade area is small and static, with 1-mile and 3-mile populations identical at 4,106, suggesting an urban core that does not expand materially. Average household income of $68,829 within 3 miles is adequate but unremarkable, and an 18.0% poverty rate at 5 miles signals economic stress across the broader catchment. Owner occupancy of 81.5% indicates residential stability, though median home values of $111,400 limit discretionary spending power.
Wise County is a nonmetro, non-adjacent jurisdiction that lost 3.0% of its population between 2020 and 2024, a structural headwind for any retail-dependent asset. The local employment base is thin at 7,678 total employees across 598 establishments, and daytime job density within 1 mile is only 242, producing a day/night ratio of 0.06. AADT of 5,800 vehicles per day is below the threshold most institutional buyers target for fuel-and-convenience locations.
The site sits 0.01 miles from a major road with only one competing gas station within a mile, providing limited but real competitive insulation. Walk Score of 13 and Bike Score of 5 confirm this is an exclusively drive-to asset with no pedestrian or transit demand. Two nearby restaurants and three retail neighbors within a mile offer minimal co-tenancy support.
FEMA Zone X designation confirms minimal flood exposure, removing a common environmental liability for fuel sites. State-level crime data is unavailable, limiting a full underwriting of operational security risk. No additional site-specific environmental flags were identified, though any fuel property carries inherent UST exposure requiring Phase I diligence.
With only 1.4 years of term remaining and a March 2027 notice deadline for the single remaining renewal option, a buyer is acquiring near-term rollover risk, not stabilized income. Current rent of $115,835 ($31.84/SF) is the only contractual income floor; no rent at expiration is disclosed, leaving renewal economics unquantified. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides credible corporate credit, but that credit quality does not neutralize the structural weakness of a tertiary, declining market with limited re-tenanting alternatives if GPM exits.
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