GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
16550 Riverside Dr, Saint Paul, 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 | $115,835 |
| Base rent $/SF | $32.74 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1992 |
| Building SF | 3,538 |
| Land area (acres) | 0.62 |
| Pre G&A CFC | 2.51x (2024) |
| Lease status | Active |
St. Paul is an officially ATV-friendly town and a primary trailhead for the Spearhead Trails Mountain View system (400+ miles of OHV trails); riders fuel and resupply in town, a destination-recreation demand driver not captured by resident metrics.
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 | 0 | 4,717 |
| Households | 0 | 0 | 2,047 |
| Pop. density (/sq mi) | 0 | 0 | 60 |
| Avg HH income | — | — | $58,588 |
| Poverty rate | — | — | 21.6% |
| Bachelor's+ | — | — | 18.2% |
| Median home value | — | — | $95,810 |
| Median rent | — | — | $657 |
| Median age | — | — | 43 |
| Owner-occupied | — | — | 70.4% |
This FasMart convenience store and gas station at 16550 Riverside Dr, Saint Paul, VA carries a location grade of 17 out of 100, reflecting a structurally weak trade area defined by near-zero population density within three miles, minimal traffic at 3,300 vehicles per day, and six competing fuel sites within half a mile. With only 1.3 years of lease term remaining and no disclosed rent escalation at expiration, the investment thesis hinges almost entirely on near-term rollover risk and a buyer's conviction in the tenant's renewal decision.
The immediate one- and three-mile rings report zero population and zero household density, indicating the site sits in a rural or largely uninhabited corridor. Expanding to five miles yields only 4,717 residents at a density of 60 per square mile, an average household income of $58,588, and a poverty rate of 21.6 percent — a thin, lower-income consumer base offering limited upside for fuel and convenience sales.
Wise County is a nonmetro, non-adjacent market that shed roughly 3,050 residents between 2020 and 2024, a 3.0 percent population decline. The county supports only 598 total business establishments and 7,678 employees, underscoring a structurally contracting local economy with limited commercial demand drivers for retail fuel operators.
Traffic exposure is critically low at 3,300 AADT, and the Walk Score of 38 confirms full car dependency with no meaningful pedestrian or transit draw. With 6 competitors within half a mile, the site faces an outsized competitive supply burden relative to available demand.
Flood exposure is minimal under FEMA Zone X. No EV charging infrastructure exists within five miles, which at present is neutral but represents a long-term obsolescence consideration for fuel-dependent sites. Crime rate data was unavailable for independent verification.
The lease expires November 30, 2027, leaving a buyer with approximately 1.3 years of in-place income at $115,835 annually before facing a binary renewal decision. The tenant holds one of two remaining renewal options, with notice required by March 1, 2027, meaning a buyer closing today has minimal runway before that decision crystallizes. No rent at expiration is disclosed, eliminating visibility into forward cash flow. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator, provides institutional-grade credit support. However, GPM's credit quality does not offset the near-term rollover risk in a demonstrably challenged location where a non-renewal would leave a buyer with a functionally obsolete 1992-vintage asset in a declining rural market.
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