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 | 0.8 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 Village Pantry convenience store operated by GPM Investments under a lease expiring May 2027, leaving approximately 0.8 years of remaining term. The site scores 44 out of 100 on location grade and sits in a nonmetro, slow-growth county, presenting a near-term rollover risk that will dominate the investment thesis. This is a yield-driven, credit-dependent play with limited long-term location conviction.
The 1-mile trade area holds 3,577 residents at a density of 1,139 per square mile, with average household income of $68,257 and a poverty rate of 16.5%, reflecting a modest, working-class customer base. The 3-mile population of 6,614 thins to 234 per square mile, with median home values of $122,393 and bachelor's degree attainment of only 15.5%, indicating limited upside in consumer spending power. Demographic trends are flat, consistent with the county's near-zero population change from 2020 to 2024.
Rush County is a nonmetro, metro-adjacent market with a stable but stagnant economy supporting 391 total establishments and 3,868 employees countywide. The county's 3.1% unemployment rate signals labor stability, but the thin retail base of 52 establishments and 26 food service operators limits the competitive ecosystem and growth outlook. This is a tertiary market with no meaningful population or economic growth catalyst on the horizon.
Site traffic is extremely low at 384 AADT, which is a critical deficiency for a fuel and convenience format that depends on high vehicular throughput. The Walk Score of 69 and proximity of 0.01 miles to a major road provide some positional benefit, and 20 nearby restaurants and 20 retail tenants within one mile support modest ambient foot traffic. However, nine competing gas stations within one mile represent a dense competitive set relative to the site's traffic volume.
FEMA designates the site as Zone X, presenting minimal flood exposure. State-level crime data was not available for this analysis. No material environmental or physical risk flags were identified beyond the structural lease and traffic concerns addressed elsewhere.
With only 0.8 years of lease term remaining and a renewal notice deadline of September 2026, a buyer acquires near-immediate rollover risk rather than stabilized income. Current rent of $49,989 annually ($18.03 per square foot) provides a reference point, but no rent-at-expiration figure is disclosed, making renewal economics uncertain. The single 1-year renewal option offers minimal long-term security. GPM Investments, guaranteed by ARKO Corp. (Nasdaq: ARKO), the sixth-largest U.S. c-store operator, provides institutional-grade credit quality, which is the primary underwriting anchor. However, that credit strength does not offset the location's weak traffic and the tenant's operational discretion to vacate a low-performing, tertiary-market site at lease end.
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