GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
350 S Main St, Kenton, OH
| Tenant / d/b/a | Village Variety |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Aug 29, 2008 |
| Lease expiration | Aug 31, 2031 |
| Remaining term | 5.1 yrs |
| Lease term (months) | — |
| Annual base rent | $54,373 |
| Base rent $/SF | $16.63 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Jan 01, 2031 |
| Year built | 2001 |
| Building SF | 3,270 |
| Land area (acres) | 0.75 |
| Pre G&A CFC | 3.37x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 8,227 | 8,227 |
| Households | 0 | 3,588 | 3,588 |
| Pop. density (/sq mi) | 0 | 291 | 105 |
| Avg HH income | — | $60,914 | $60,914 |
| Poverty rate | — | 20.1% | 20.1% |
| Bachelor's+ | — | 15.8% | 15.8% |
| Median home value | — | $107,690 | $107,690 |
| Median rent | — | $672 | $672 |
| Median age | — | 41 | 41 |
| Owner-occupied | — | 68.9% | 68.9% |
This net lease convenience store and gas station at 350 S Main St, Kenton, OH operates under the Fas Mart brand with GPM Investments as guarantor, offering 5.1 years of remaining term at $54,373 annually. The site earned an Average location grade of 47/100, reflecting modest trade area fundamentals in a nonmetro Ohio county. The deal's appeal rests primarily on corporate credit quality rather than location strength.
The relevant trade area is anchored by a 3-mile population of 8,227 residents at a sparse density of 291 per square mile, with average household income of $60,914 and a 20.1% poverty rate — both indicators of a stressed, lower-income consumer base. Median home values of $107,690 and median rent of $672 underscore limited household wealth. These metrics are consistent with a small rural county seat with constrained organic demand growth.
Hardin County is a nonmetro, metro-adjacent market with a modestly declining population, falling from 30,722 in 2020 to 30,402 in 2024, a 1.0% contraction. With 428 total business establishments and 6,298 employees countywide, the local economic base is thin. Unemployment of 4.7% sits near national averages but masks limited employment diversification in the broader area.
The site benefits from a Walk Score of 79 and proximity to 19 restaurants and 20 retail destinations within one mile, suggesting an active downtown corridor. Positioning 0.01 miles from a major road supports convenience-driven traffic capture. However, the complete absence of AADT data limits confidence in traffic volume assumptions.
The site sits within FEMA Flood Zone AE, indicating a 1% annual chance of flooding, which introduces insurance cost and property damage exposure. Eleven competing gas stations within one mile represents an exceptionally high competitive density for a small-market site. County population is contracting and the local poverty rate of 20.1% constrains consumer spending power.
With 5.1 years remaining through August 2031 and one renewal option exercisable with notice by January 2031, a buyer faces near-term rollover risk in a secondary market with limited re-tenanting upside. Current rent of $54,373 ($16.63/SF) provides no visibility into rent at expiration, reducing underwriting precision. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with approximately 3,500 locations, provides meaningful institutional credit support that is the primary investment thesis for this asset.
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