GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2101 E Wabash St, Frankfort, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2029 |
| Remaining term | 2.9 yrs |
| Lease term (months) | — |
| Annual base rent | $75,512 |
| Base rent $/SF | $19.57 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2028 |
| Year built | 1996 |
| Building SF | 3,858 |
| Land area (acres) | 0.89 |
| Pre G&A CFC | 1.20x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 2101 E Wabash St |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 3,251 | 14,609 | 14,609 |
| Households | 1,250 | 5,542 | 5,542 |
| Pop. density (/sq mi) | 1,035 | 517 | 186 |
| Avg HH income | $80,631 | $67,682 | $67,682 |
| Poverty rate | 9.4% | 11.6% | 11.6% |
| Bachelor's+ | 22.8% | 12.1% | 12.1% |
| Median home value | $159,200 | $117,546 | $117,546 |
| Median rent | $801 | $909 | $909 |
| Median age | 40 | 34 | 34 |
| Owner-occupied | 72.2% | 56.9% | 56.9% |
This Village Pantry/Fas Mart (GPM Investments) net lease asset in Frankfort, Indiana offers a short remaining term of 2.9 years at $75,512 annual base rent on a 3,858 SF building. The property earns an average location grade of 53/100, reflecting modest traffic, limited trade area density, and meaningful competitive pressure. Buyers are effectively acquiring near-term income with rollover risk in a nonmetro Indiana market.
The immediate 1-mile trade area holds 3,251 residents at a low density of 1,035 per square mile, with average household income of $80,631 and a contained poverty rate of 9.4%. The 3-mile ring expands to 14,609 residents but income drops to $67,682, median home values are modest at $117,546, and educational attainment is thin at 12.1% with a bachelor's degree or higher. These are functional but unexceptional convenience retail fundamentals.
Clinton County is a nonmetro, metro-adjacent market with a shrinking population base, down 0.8% from 2020 to 2024, and a total employment base of roughly 10,800 workers across 620 establishments. The day-to-night population ratio of 0.53 within one mile indicates limited daytime demand capture. The local economy is stable but structurally constrained with little growth catalyst evident.
Site traffic is low at 2,984 AADT, a meaningful concern for a fuel and convenience format that depends on drive-by capture. The property sits 0.01 miles from a major road, which partially mitigates exposure, and there are 20 restaurants and 11 retail tenants within one mile providing some co-tenancy. Walk Score of 50 and Bike Score of 46 reflect a car-dependent environment consistent with the format.
FEMA designates the site Zone X, indicating minimal flood hazard. State-level violent and property crime data were unavailable for independent analysis. No EV charging infrastructure exists within five miles, a neutral factor today but a longer-term demand variable for fuel-dependent sites.
With 2.9 years of term remaining and a renewal notice deadline of September 2028, a buyer faces rollover risk in the near term at a below-market rent of $19.57 per square foot. No rent at expiration is disclosed, limiting visibility into upside or contractual escalation. The single five-year renewal option provides optionality but not certainty. GPM Investments, backed by Nasdaq-listed ARKO Corp., the sixth-largest U.S. c-store operator with roughly 3,500 locations, provides institutional-grade credit support, which is the strongest element of this offering. Buyers should price accordingly for re-leasing execution risk in a secondary market.
Full institutional offering memorandum with all 48 briefs, maps, and tax analysis.
Download full OM (PDF)