GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
108 2nd St SW, 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 | $97,559 |
| Base rent $/SF | $17.75 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2002 |
| Building SF | 5,497 |
| Land area (acres) | 0.94 |
| Pre G&A CFC | 0.25x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 108 2nd St SW |
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 | 3,940 | 11,372 |
| Households | 0 | 1,507 | 4,582 |
| Pop. density (/sq mi) | 0 | 139 | 145 |
| Avg HH income | — | $56,437 | $65,602 |
| Poverty rate | — | 13.7% | 17.2% |
| Bachelor's+ | — | 14.8% | 18.4% |
| Median home value | — | $102,600 | $122,329 |
| Median rent | — | $644 | $774 |
| Median age | — | 35 | 40 |
| Owner-occupied | — | 69.2% | 74.2% |
108 2nd St SW, Coeburn, VA is a 5,497 SF FasMart convenience store and gas station operating under a lease expiring November 2027, leaving approximately 1.3 years of remaining term. The site scores 26 out of 100 on location grade, reflecting thin demographics, meaningful competition, and a declining rural market. This is a short-duration, rollover-risk-dominated investment in a structurally challenged submarket.
The immediate 1-mile population is effectively zero, with the usable trade area beginning at the 3-mile ring, where just 3,940 residents earn an average household income of $56,437. The 5-mile population of 11,372 supports modest retail demand, but a 17.2% poverty rate and median home value of $102,600 signal limited consumer spending capacity. These metrics are below thresholds typically required for institutional-grade net lease assignments.
Wise County is a nonmetro, non-adjacent rural county that lost 3.0% of its population between 2020 and 2024, a trajectory that reflects broader Appalachian economic contraction. With 598 total establishments and 7,678 employees countywide, the local commercial base is thin and offers little cushion against tenant attrition or lease nonrenewal. The absence of EV charging infrastructure within 5 miles provides no near-term displacement risk to fuel volumes but underscores the market's isolation.
The site sits 0.01 miles from the nearest major road and draws 4,300 vehicles per day, which is low for a fuel-dependent convenience concept. A Walk Score of 31 confirms full car dependency, while daytime employment within 1 mile stands at just 666 jobs. The presence of 5 competing gas stations within 1 mile intensifies pressure on fuel margin and customer capture.
The site carries a FEMA AE flood zone designation, indicating a 1% annual chance of flooding, which introduces property insurance costs and potential lender constraints. County population is declining at 3.0% over four years with no identifiable economic catalyst for reversal. Five competing fuel outlets within 1 mile elevate volume and pricing risk for the operator.
With only 1.3 years remaining before lease expiration in November 2027 and a renewal notice deadline of March 2027, a buyer faces immediate rollover exposure. Current rent of $97,559 annually provides no rent-at-expiration visibility, making residual value speculative. GPM Investments, backed by Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator, provides credible corporate guaranty, but ARKO's history of strategic portfolio rationalization means renewal in a weak market is not assured.
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