GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1800 Monticello Road, Charlottesville, VA
| Tenant / d/b/a | Every Day Shop & Cafe |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 26, 2011 |
| Lease expiration | May 31, 2031 |
| Remaining term | 4.8 yrs |
| Lease term (months) | — |
| Annual base rent | $176,640 |
| Base rent $/SF | $78.16 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/4 |
| Notice date | Nov 02, 2030 |
| Year built | 1995 |
| Building SF | 2,260 |
| Land area (acres) | 0.52 |
| Pre G&A CFC | 3.21x (2023) |
| Lease status | Active |
Charlottesville is home to the University of Virginia and Monticello — a major university plus heavy heritage tourism. Student and visitor demand supplement 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 | 7,831 | 61,332 | 97,336 |
| Households | 3,574 | 24,292 | 40,358 |
| Pop. density (/sq mi) | 2,493 | 2,169 | 1,239 |
| Avg HH income | $108,433 | $105,697 | $112,479 |
| Poverty rate | 14.4% | 20.5% | 15.8% |
| Bachelor's+ | 51.0% | 61.2% | 60.5% |
| Median home value | $358,752 | $450,574 | $452,996 |
| Median rent | $1,122 | $1,489 | $1,561 |
| Median age | 39 | 32 | 35 |
| Owner-occupied | 55.8% | 39.5% | 45.7% |
This Fas Mart-branded convenience store and gas station at 1800 Monticello Road, Charlottesville, Virginia offers 4.8 years of remaining lease term backed by GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience store operator. The site earns an Excellent location grade of 73 out of 100, benefits from zero direct fuel competitors within a half-mile, and sits within a dense, high-income trade area anchored by the University of Virginia. Near-term lease rollover is the central underwriting consideration.
The three-mile trade area supports 61,332 residents with average household income of $105,697 and a median home value of $450,574, reflecting a comparatively affluent and educated consumer base with a 61.2 percent bachelor's degree attainment rate. Poverty at 20.5 percent within three miles is elevated, consistent with a college-town demographic mix of students and institutional workers. The five-mile population of 97,336 and average household income of $112,479 confirm a broad, economically viable catchment.
Charlottesville city posted modest population contraction of 3.6 percent from 2020 to 2024, though unemployment sits at a very low 2.3 percent and the market supports over 33,700 employees across 2,077 establishments. The 61,941 daytime workers within three miles drive meaningful fuel and convenience demand throughout the week. University of Virginia's institutional presence provides durable economic stability that partially offsets the modest population decline.
The site fronts approximately 13,000 vehicles per day and sits just 0.08 miles from a major road, with no competing gas stations within a half-mile. A Walk Score of 55 indicates moderate pedestrian access, and 20 nearby restaurants within one mile support convenience traffic. The trade area's density and daytime employment base reinforce steady throughput.
1. With 46 EV charging stations within five miles, accelerating electrification poses a structural long-term demand risk to fuel volumes. 2. Charlottesville city lost 3.6 percent of its population between 2020 and 2024, indicating a contracting local consumer base. 3. The lease expires May 31, 2031, leaving a buyer with limited remaining term and meaningful rollover exposure at a relatively high rent of $78.16 per square foot.
The 4.8-year remaining term creates a clear-horizon, moderate-duration income play rather than a long-term bond alternative. Rent at expiration is undisclosed, introducing uncertainty around renewal economics, and the single four-year renewal option with a November 2030 notice date compresses decision timelines. GPM Investments and parent ARKO Corp. provide institutional-grade, SEC-reporting credit, which supports pricing, though ARKO's publicly disclosed financial performance warrants independent review given sector-wide margin pressures.
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