GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
101 Railroad Ave, 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 | $22,501 |
| Base rent $/SF | $9.22 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1985 |
| Building SF | 2,440 |
| Land area (acres) | 0.19 |
| Pre G&A CFC | -1.94x (2023) |
| Lease status | SUBLEASED |
| Operating tenant | 101 Railroad Ave SE |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 9,274 | 18,744 |
| Households | 0 | 3,771 | 7,672 |
| Pop. density (/sq mi) | 0 | 328 | 239 |
| Avg HH income | — | $69,405 | $62,981 |
| Poverty rate | — | 16.2% | 17.1% |
| Bachelor's+ | — | 22.5% | 18.2% |
| Median home value | — | $125,220 | $114,281 |
| Median rent | — | $852 | $767 |
| Median age | — | 38 | 39 |
| Owner-occupied | — | 78.0% | 71.7% |
FasMart Store #2525 at 101 Railroad Ave in Wise, VA is a 2,440 SF convenience store and gas station with 1.4 years of remaining lease term on a mid-term deal expiring November 2027. The site scores 51 out of 100 on location quality, reflecting a secondary Appalachian market with modest demographics and meaningful competitive density. This is a near-term rollover play backed by a nationally scaled guarantor in a declining-population, nonmetro county.
The immediate one-mile trade area reports no measurable residential population, indicating the site is oriented toward a daytime and pass-through customer base rather than a dense residential catchment. The three-mile ring captures 9,274 residents with an average household income of $69,405 and a poverty rate of 16.2%, consistent with a lower-middle-income rural Virginia community. The five-mile population of 18,744 at 239 persons per square mile underscores the limited density ceiling for fuel and convenience demand.
Wise County is a nonmetro, non-adjacent county with a 2020-to-2024 population decline of 3.0%, shrinking from 36,066 to 34,973 residents. The local employment base is modest at 7,678 workers across 598 establishments, and the metro classification signals limited regional economic momentum. Secular population contraction in Central Appalachia is a structural headwind for retail fuel volume and long-term site utility.
The site sits 0.22 miles from the nearest major road and carries an AADT of 17,000 vehicles per day, providing adequate but not exceptional traffic exposure. A Walk Score of 58 reflects partial walkability within Wise's small commercial core, supported by 16 nearby restaurants and 16 retail establishments within one mile. Nine competing gas stations within one mile represent a meaningfully crowded fuel market for a trade area of this scale.
The site is located in FEMA Flood Zone AE, indicating a high-risk designation with a one percent annual chance of flooding, which elevates both insurance costs and long-term property risk. Three competing gas stations within 0.5 miles and nine within one mile compress margin potential and create real tenant renewal risk if volume is underperforming. Wise County's 3.0% population decline since 2020 signals a shrinking consumer base that could weigh on operator economics at lease expiration.
With 1.4 years remaining and a March 2027 renewal notice deadline, a buyer is acquiring near-certain rollover risk at closing. Current rent of $22,501 annually ($9.22 per SF) is modest, and no rent-at-expiration data is available to assess embedded growth. The single remaining renewal option provides limited long-term hold certainty. GPM Investments, LLC as guarantor, backed by publicly traded ARKO Corp., the sixth-largest U.S. c-store operator, provides institutional-grade credit support, but that credit quality does not eliminate site-level re-tenanting exposure if GPM elects not to renew in a low-volume rural location.
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