GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
641 W Walnut St, Albany, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2029 |
| Remaining term | 2.9 yrs |
| Lease term (months) | — |
| Annual base rent | $154,416 |
| Base rent $/SF | $32.58 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2028 |
| Year built | 1996 |
| Building SF | 4,740 |
| Land area (acres) | 1.45 |
| Pre G&A CFC | 2.44x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 5,053 | 5,053 |
| Households | 0 | 2,143 | 2,143 |
| Pop. density (/sq mi) | 0 | 179 | 64 |
| Avg HH income | — | $75,003 | $75,003 |
| Poverty rate | — | 6.4% | 6.4% |
| Bachelor's+ | — | 16.7% | 16.7% |
| Median home value | — | $120,400 | $120,400 |
| Median rent | — | $655 | $655 |
| Median age | — | 48 | 48 |
| Owner-occupied | — | 89.2% | 89.2% |
641 W Walnut St, Albany, IN is a 4,740 SF Village Pantry convenience store and gas station operated by GPM Investments under the Fas Mart banner, scoring a weak 36 out of 100 on location grade. With 2.9 years of remaining lease term and a single one-year renewal option, this asset presents near-term rollover risk in a thin, low-density rural Indiana market.
The trade area is materially undersized, with a 3-mile population of only 5,053 at a density of 179 persons per square mile, and the 1-mile ring registers zero population in the dataset, indicating an industrial or edge-of-town siting. Average household income of $75,003 is modest, median home values of $120,400 are low, and the 3-to-5 mile population is flat, confirming no growth absorption from the surrounding area.
Albany sits within Delaware County, a sub-250K metro with modest but stable fundamentals — 1.1% population growth from 2020 to 2024 and a 3.9% unemployment rate. The convenience retail environment is competitive, with five gas stations within one mile of the subject, creating meaningful volume pressure on a site already generating only 8,366 vehicles per day in traffic.
The site is car-dependent with a Walk Score of 35, limited by sparse surrounding density and only 456 daytime workers within one mile. Proximity to the nearest major road registers at zero miles, which is favorable for access, but the low-traffic count and two direct competitors within a half mile constrain the site's capture potential.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard. No EV charging infrastructure exists within five miles, which is a neutral factor today but a long-term demand consideration as vehicle electrification accelerates. State-level crime data was unavailable for direct scoring.
The lease expires May 31, 2029, leaving 2.9 years of term with one one-year renewal option requiring notice by September 3, 2028, creating a hard re-leasing decision inside a 24-month window from acquisition. Current rent of $154,416 annually ($32.58 per SF) provides no rent escalation visibility to expiration, and no rent-at-expiration figure is disclosed, limiting underwriting clarity. The guarantor is GPM Investments, a subsidiary of ARKO Corp., a Nasdaq-listed operator of approximately 3,500 sites across 34 states, providing institutional-grade credit support. However, guarantor strength does not offset the fundamental re-leasing risk in a low-population, highly competitive rural location.
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