GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
412 Powell Valley Rd, Big Stone Gap, 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 | $182,824 |
| Base rent $/SF | $43.18 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1992 |
| Building SF | 4,234 |
| Land area (acres) | 1.49 |
| Pre G&A CFC | 2.44x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 9,747 | 9,747 |
| Households | 0 | 3,517 | 3,517 |
| Pop. density (/sq mi) | 0 | 345 | 124 |
| Avg HH income | — | $64,162 | $64,162 |
| Poverty rate | — | 16.0% | 16.0% |
| Bachelor's+ | — | 14.9% | 14.9% |
| Median home value | — | $166,149 | $166,149 |
| Median rent | — | $773 | $773 |
| Median age | — | 43 | 43 |
| Owner-occupied | — | 67.6% | 67.6% |
412 Powell Valley Rd is a 4,234 SF FasMart convenience store and gas station in Big Stone Gap, Virginia, operating under a lease expiring November 30, 2027, with approximately 1.4 years of remaining term. The site scores 48 out of 100 on location grade, reflecting a thin trade area, minimal traffic, and a declining rural market. This is a short-duration, single-tenant net lease asset with rollover risk as the primary underwriting concern.
The immediate 1-mile radius reports zero population, with the 3-mile trade area covering 9,747 residents at a density of just 345 per square mile and average household income of $64,162. A poverty rate of 16.0% and a bachelor's degree attainment rate of 14.9% indicate a lower-income, workforce-dependent consumer base. Population is essentially flat between the 3-mile and 5-mile rings, signaling no meaningful growth buffer.
Wise County is a nonmetro, non-adjacent county that shed roughly 1,093 residents between 2020 and 2024, a 3.0% decline consistent with broader Appalachian rural contraction. The county's 598 total establishments and 7,678 employees represent a thin economic base, with limited demand drivers to sustain retail traffic. The regional economic trajectory does not support rent growth assumptions at renewal.
The site records an AADT of just 40 vehicles per day, an exceptionally low traffic count for a fuel and convenience retail format. Walk Score of 25 confirms full car dependency, and zero restaurants within 1 mile limits cross-shopping synergies. One competing gas station exists within half a mile, constraining volume capture in an already-light traffic corridor.
FEMA designates the site as Zone X, indicating minimal flood exposure. State-level crime data is unavailable, limiting public safety benchmarking. The site's rural nonmetro designation and county population decline introduce long-term viability concerns independent of near-term lease security.
With only 1.4 years of lease term remaining and a March 2027 renewal notice deadline, a buyer acquires primarily a short-duration income stream rather than a stabilized long-term asset. The current rent of $182,824 annually ($43.18/SF) is the only contractual income certainty, as no rent at expiration is disclosed, making post-rollover economics speculative. GPM Investments, LLC, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator with roughly 3,500 locations, provides investment-grade-adjacent guarantor quality, which is the asset's clearest credit underpin. One of two renewal options remains available, but given the site's weak traffic and declining market, renewal is not assured and should not be underwritten as base case.
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