GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
5181 Dickenson Hwy, Clintwood, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $131,066 |
| Base rent $/SF | $38.17 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1989 |
| Building SF | 3,434 |
| Land area (acres) | 0.64 |
| Pre G&A CFC | -0.08x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 5181 Dickenson Hwy |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 7,077 |
| Households | 0 | 0 | 3,033 |
| Pop. density (/sq mi) | 0 | 0 | 90 |
| Avg HH income | — | — | $61,022 |
| Poverty rate | — | — | 20.5% |
| Bachelor's+ | — | — | 13.0% |
| Median home value | — | — | $101,526 |
| Median rent | — | — | $725 |
| Median age | — | — | 46 |
| Owner-occupied | — | — | 71.5% |
This FasMart convenience store and gas station at 5181 Dickenson Hwy, Clintwood, VA is a sub-2-year net lease investment in a deeply rural Appalachian market with a scored location grade of 20 out of 100. The asset offers a publicly traded guarantor but carries meaningful near-term lease rollover risk, deteriorating population trends, and structurally weak site-level demand drivers.
The trade area is extremely thin, with zero reported population within 1 and 3 miles and only 7,077 residents within 5 miles at a density of 90 people per square mile. Average household income of $61,022 at the 5-mile level is modest, and a 20.5% poverty rate underscores limited consumer spending capacity in this catchment.
Dickenson County is a nonmetro rural county with no adjacent metro influence, a shrinking population base that declined 4.7% from 2020 to 2024, and a total employment base of only 1,922 workers across 192 establishments. These structural economic headwinds severely constrain long-term retail demand and make re-tenanting or disposition challenging if the lease does not renew.
The site sits 0.01 miles from the nearest major road with 6,700 vehicles per day, which is low for a viable fuel and convenience operation. Walk Score of 31 and Bike Score of 12 confirm full car dependency, and the presence of 7 competing gas stations within 1 mile creates material market share pressure for this location.
The property sits in FEMA Flood Zone X, indicating minimal physical flood hazard, which is a neutral positive. No EV charging infrastructure exists within 5 miles, though the rural profile and low EV adoption rates in this market reduce near-term transition risk as a concern.
With only 1.4 years of remaining term and a March 2027 renewal notice deadline, a buyer acquires near-immediate rollover exposure. Current rent of $131,066 annually provides no disclosed escalation to expiration, and there is only one remaining renewal option of two, limiting long-term income certainty. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides credible institutional credit, but that guarantor strength cannot fully offset the thin market fundamentals and compressed lease duration. A buyer must underwrite this as a lease-rollover or vacant-repositioning scenario at acquisition.
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