GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1003 W 3rd 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 | 0.8 yrs |
| Lease term (months) | — |
| Annual base rent | $43,740 |
| Base rent $/SF | $24.55 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2026 |
| Year built | 1979 |
| Building SF | 1,782 |
| Land area (acres) | 0.39 |
| Pre G&A CFC | 0.06x (2024) |
| 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% |
This Village Pantry / Fas Mart (GPM Investments) convenience store at 1003 W 3rd St in Rushville, Indiana is a small-format, aging asset in a nonmetro market with a near-term lease expiration of May 2027. The location grades average at 46 out of 100, reflecting modest traffic, elevated competition, and limited population density. Investors should underwrite this primarily as a rollover or renewal play with short remaining income visibility.
The immediate trade area is thin, with only 3,577 residents within one mile at a density of 1,139 per square mile, rising to 9,784 within five miles at 125 per square mile. Average household income holds near $68,000 to $72,500 across rings, but poverty rates of 14 to 16.5 percent and a bachelor's attainment rate of only 15.5 percent within three miles signal a lower-income consumer base. These demographics support convenience retail but constrain discretionary spending potential.
Rush County is a stable but effectively stagnant nonmetro market, with county population virtually flat at 16,759 through 2024 and only 391 total business establishments. Unemployment is low at 3.1 percent, but the limited commercial base and 26 food service establishments suggest modest organic demand growth for fuel and convenience. The market does not offer meaningful rent escalation catalysts over a near-term horizon.
Site traffic is weak at 4,284 AADT, and the surrounding competitive environment is unfavorable, with six competing gas stations within one mile. Walk Score of 46 confirms car dependency, while daytime employment density of 1,352 jobs within one mile limits commuter capture potential. The 1,782-square-foot building dating to 1979 adds functional obsolescence risk.
Flood exposure is minimal under FEMA Zone X designation. No dollar or discount store competition exists within a half mile, limiting one indirect competitive threat. Crime data is not available at the state level for direct comparison, which limits full risk scoring.
With only 0.8 years of remaining term and a notice date of September 2026, a buyer acquires effectively no durable income security at closing. Current rent of $43,740 annually ($24.55 per square foot) provides no rent-at-expiration benchmark for modeling, creating cash flow uncertainty. GPM Investments, a subsidiary of publicly traded ARKO Corp., offers investment-grade adjacent credit quality across approximately 3,500 sites, but that guarantor strength is largely neutralized here by the imminent rollover and a single one-year renewal option.
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