GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
552 W Main St, Tazewell, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.3 yrs |
| Lease term (months) | — |
| Annual base rent | $52,675 |
| Base rent $/SF | $20.36 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2003 |
| Building SF | 2,587 |
| Land area (acres) | 0.40 |
| Pre G&A CFC | 0.47x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 552 W Main St |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 2,004 | 2,004 |
| Households | 0 | 977 | 977 |
| Pop. density (/sq mi) | 0 | 71 | 26 |
| Avg HH income | — | $54,933 | $54,933 |
| Poverty rate | — | 24.1% | 24.1% |
| Bachelor's+ | — | 21.6% | 21.6% |
| Median home value | — | $110,100 | $110,100 |
| Median rent | — | $711 | $711 |
| Median age | — | 50 | 50 |
| Owner-occupied | — | 58.4% | 58.4% |
This FasMart convenience store and gas station at 552 W Main St, Tazewell, VA is a 2,587 SF net lease asset on 0.40 acres with 1.3 years of remaining term, occupied by a GPM Investments-guaranteed tenant. The site earned a location grade of 43 out of 100, reflecting thin population density, modest traffic of 3,200 AADT, and a rural nonmetro market with structural demographic headwinds. The investment case rests almost entirely on short-term income certainty and the rollover decision rather than intrinsic real estate strength.
The immediate one-mile ring shows no measurable population, and the three-mile population is just 2,004 residents at a density of 71 per square mile, with average household income of $54,933 and a poverty rate of 24.1%. Median home values of $110,100 and median rents of $711 reflect limited consumer spending capacity. Population does not expand beyond the three-mile ring, indicating there is no meaningful trade area depth beyond the immediate local draw.
Tazewell County is a nonmetro, non-adjacent jurisdiction that lost 3.8% of its population between 2020 and 2024, declining from 40,411 to 38,875 residents. The local economy supports 11,043 jobs across 896 establishments, a modest base that constrains fuel and convenience demand growth. County-level contraction signals a structurally challenged operating environment with little prospect of demand-side improvement over the medium term.
The site sits 0.03 miles from the nearest major road with 3,200 vehicles per day, a traffic count that is well below thresholds typical of institutionally graded convenience locations. A Walk Score of 23 confirms near-total auto dependency, and the one-mile area contains only 3 retail destinations and 8 restaurants, indicating a thin commercial ecosystem. Two competing gas stations within half a mile further compress the site's relative positioning.
The property is located in FEMA Flood Zone X, indicating minimal flood hazard, which is a positive physical attribute. No specific crime rate data was available for state-level benchmarking. Environmental liability inherent to fuel operations represents a standard but material consideration that any buyer must underwrite through a Phase I and Phase II environmental site assessment.
With only 1.3 years remaining and a renewal notice deadline of March 1, 2027, a buyer acquires near-term rollover risk at closing. Current rent of $52,675 annually reflects $20.36 per square foot with no disclosed rent at expiration, leaving renewal economics uncertain. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp. and the sixth-largest U.S. convenience operator, provides credible credit support through the remaining term, but the short duration limits the value of that guarantee materially. One renewal option remains, and its exercise is at tenant discretion, making re-leasing or vacancy a realistic underwriting scenario within 24 months.
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