GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
504 Laurel Ave, 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 | $108,003 |
| Base rent $/SF | $23.39 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1999 |
| Building SF | 4,618 |
| Land area (acres) | 0.62 |
| Pre G&A CFC | 1.18x (2024) |
| Lease status | Active |
Coeburn is an ATV-friendly town and a Spearhead Trails Mountain View trailhead access point, 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 | 11,372 |
| Households | 0 | 2,488 | 4,582 |
| Pop. density (/sq mi) | 0 | 219 | 145 |
| Avg HH income | — | $62,013 | $65,602 |
| Poverty rate | — | 17.0% | 17.2% |
| Bachelor's+ | — | 15.7% | 18.4% |
| Median home value | — | $110,774 | $122,329 |
| Median rent | — | $660 | $774 |
| Median age | — | 42 | 40 |
| Owner-occupied | — | 73.3% | 74.2% |
504 Laurel Ave is a 4,618 SF FasMart convenience store and gas station in Coeburn, Virginia, a rural Appalachian market rated WEAK at 37 out of 100 on location quality. With only 1.3 years of lease term remaining and no disclosed rent at expiration, this offering is primarily a near-term income play with significant rollover risk in a demographically challenged submarket.
The immediate one-mile trade area reports zero population, indicating an outlying or data-sparse location with virtually no captive walkaround customer base. The three-mile ring captures 6,204 residents at a sparse 219 people per square mile, with average household income of $62,013, a 17 percent poverty rate, and median home values of $110,774, all pointing to a low-income, rural consumer base with limited discretionary spend.
Wise County is a shrinking nonmetro market, having lost 3 percent of its population between 2020 and 2024, with just 598 total establishments and 7,678 employees countywide. The thin commercial base and population contraction create a challenging re-leasing or repositioning environment if FasMart does not exercise its renewal option.
Site traffic is critically low at 1,000 vehicles per day AADT, well below the threshold typically required to sustain viable gas station and convenience store economics. A Walk Score of 39 confirms full car dependency, and the presence of five competing gas stations within one mile materially compresses the site's capture rate and pricing power.
The property sits within a FEMA AE Floodway designation, representing the highest flood-risk classification and likely creating financing, insurance, and long-term ownership complications. Lease rollover arrives in November 2027 with a renewal notice deadline of March 2027, leaving a buyer limited time to assess and act on renewal optionality. The site's weak location grade and thin trade area population significantly increase re-tenanting risk if GPM elects not to renew.
The lease guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator, provides institutional-grade credit for the remaining term. However, with only 1.3 years of income certainty, no disclosed rent at expiration, and a single renewal option at unknown economics, a buyer is essentially acquiring rollover risk in a weak market immediately upon closing. Pricing must reflect a short-term income strip with speculative residual value, not a stabilized net lease asset.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)