GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
409 Quillen Ave SE, Coeburn, 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 | $58,091 |
| Base rent $/SF | $20.01 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1992 |
| Building SF | 2,903 |
| Land area (acres) | 0.61 |
| Pre G&A CFC | 0.60x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 409 Quillen Ave SE |
Coeburn is an ATV-friendly town and a Spearhead Trails Mountain View trailhead access point (400+ miles of OHV trails), drawing off-road recreation tourism beyond the resident base.
The location score above reflects resident-market real-estate fundamentals and does not incorporate seasonal or destination demand; consider this note alongside the store-level coverage (CFC) when assessing the asset.
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 6,204 | 6,204 |
| Households | 0 | 2,488 | 2,488 |
| Pop. density (/sq mi) | 0 | 219 | 79 |
| Avg HH income | — | $62,013 | $62,013 |
| Poverty rate | — | 17.0% | 17.0% |
| Bachelor's+ | — | 15.7% | 15.7% |
| Median home value | — | $110,774 | $110,774 |
| Median rent | — | $660 | $660 |
| Median age | — | 42 | 42 |
| Owner-occupied | — | 73.3% | 73.3% |
FasMart Store #2532 at 409 Quillen Ave SE, Coeburn, Virginia is a 2,903 SF convenience store and gas station on 0.61 acres, graded Average (40/100). With only 1.3 years of lease term remaining and modest trade-area fundamentals, this asset carries meaningful near-term rollover risk that dominates the investment thesis.
The immediate one-mile ring shows no measurable residential population, with the relevant consumer base drawn from a three-mile radius of 6,204 residents at a low density of 219 per square mile. Average household income of $62,013 and a poverty rate of 17.0% reflect a below-average spending market, and median home values of $110,774 confirm limited household wealth in the trade area.
Coeburn sits in Wise County, a nonmetro Appalachian Virginia market that lost 3.0% of its population between 2020 and 2024, continuing a long-term regional contraction trend. The county's 598 total business establishments and 7,678 employees reflect a thin commercial base with limited demand drivers. Daily traffic at the site of only 1,200 vehicles is well below typical thresholds for high-performing convenience retail, constraining upside.
The site is car-dependent with a Walk Score of 30 and a Bike Score of 6, consistent with a rural Virginia small-town setting. Proximity of 0.11 miles to the nearest major road provides some visibility, but three competing gas stations within one mile create meaningful market share pressure against a low-volume traffic count.
The property sits in FEMA Flood Zone X, indicating minimal flood exposure, which is a positive baseline. State-level crime data is unavailable for this analysis. No EV charging infrastructure exists within five miles, which is currently a neutral factor but represents a long-term demand consideration for fuel retail.
The lease expires November 30, 2027, leaving approximately 1.3 years of contractual income at $58,091 annually. No rent escalation at expiration is disclosed, meaning there is no embedded rent growth to offset rollover risk. The single remaining renewal option has a notice deadline of March 1, 2027, creating an imminent decision point for both tenant and buyer. GPM Investments, LLC as guarantor, backed by publicly traded ARKO Corp., the sixth-largest U.S. convenience-store operator with roughly 3,500 locations, provides institutional-grade credit quality. However, that credit strength does not mitigate the structural reality that a buyer faces re-tenanting or re-leasing a below-average rural location within roughly 15 months of closing.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)