GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
632 N Main St, Rushville, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2027 |
| Remaining term | 0.9 yrs |
| Lease term (months) | — |
| Annual base rent | $49,989 |
| Base rent $/SF | $18.03 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2026 |
| Year built | 1973 |
| Building SF | 2,772 |
| Land area (acres) | 0.23 |
| Pre G&A CFC | 1.20x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 3,577 | 6,614 | 9,784 |
| Households | 1,517 | 2,607 | 3,873 |
| Pop. density (/sq mi) | 1,139 | 234 | 125 |
| Avg HH income | $68,257 | $68,121 | $72,526 |
| Poverty rate | 16.5% | 14.8% | 14.0% |
| Bachelor's+ | 16.0% | 15.5% | 16.2% |
| Median home value | $124,000 | $122,393 | $137,591 |
| Median rent | $887 | $746 | $741 |
| Median age | 40 | 40 | 42 |
| Owner-occupied | 56.1% | 58.0% | 66.4% |
632 N Main St, Rushville, IN is a 2,772 SF convenience store and gas station net leased to Village Pantry (GPM Investments/ARKO Corp.) through May 2027, with approximately 0.9 years of remaining term. The property earned an Average location grade of 44/100, reflecting modest trade area fundamentals and elevated near-term lease rollover risk. This is a short-duration, secondary-market asset requiring a buyer with a clear re-tenanting or renewal thesis.
The immediate one-mile population is 3,577 at a density of 1,139 per square mile, with average household income of $68,257 and a poverty rate of 16.5%, indicating a modest consumer base with limited discretionary spending depth. The three-mile ring expands to only 6,614 residents, with median home values of $122,393 and a bachelor's degree attainment of just 15.5%, consistent with a rural working-class market. Population at the county level is essentially flat, declining 0.1% from 2020 to 2024.
Rush County is classified as nonmetro urban, with 16,759 residents, 391 total business establishments, and an unemployment rate of 3.1%, suggesting baseline economic stability without meaningful growth catalysts. The retail and food service base is thin, with only 52 retail establishments and 26 food service operators countywide. This is a low-velocity market with limited rent growth potential and narrow alternative use demand.
Site-level traffic is critically low at 384 AADT, which is well below the threshold typically required to support a viable gas station and convenience store operation. Nine competing fuel stations exist within one mile, creating significant competitive pressure on an already traffic-constrained site. Walk Score of 69 and proximity to the main road are marginal positives that do not offset the fundamental traffic deficiency.
The FEMA flood designation is Zone X, indicating minimal flood exposure, which eliminates one common net lease risk factor. State-level crime data was not available for independent assessment. No other material environmental or physical risk flags were identified in the provided data set.
With only 0.9 years remaining and a renewal notice deadline of September 2026, this asset is effectively a near-term rollover play. Current rent of $49,989 annually ($18.03/SF) provides limited income runway, and no rent at expiration figure is disclosed, making forward yield assumptions speculative. GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit quality, but that credit is largely irrelevant if the tenant vacates at expiration. A buyer must underwrite renewal probability and alternative use viability as the core return drivers.
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