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 | 1.4 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 is a single-tenant net lease asset scoring 15 out of 100 on location quality, signaling materially below-average site fundamentals. With 1.4 years of term remaining and a mid-term lease expiring November 2027, the asset presents near-term rollover risk in a structurally challenged rural Appalachian market. Institutional appetite will be limited without significant pricing concessions.
The 1-mile and 3-mile trade areas report zero population, indicating the site sits in an area with no meaningful residential density at close range. The 5-mile population of 4,717 at a density of 60 persons per square mile is extremely thin, with average household income of $58,588 and a poverty rate of 21.6% reflecting a stressed consumer base. These metrics are inconsistent with a high-performing convenience retail location.
Wise County is a nonmetro, non-adjacent rural market that lost 3.0% of its population between 2020 and 2024, shrinking from 36,066 to 34,973 residents. The county's modest 598 total establishments and 7,678 total employees underscore limited economic density and minimal growth catalysts. Population contraction and economic thinness reduce the probability of lease renewal or re-tenanting at current rents.
Traffic of 3,300 vehicles per day is well below thresholds typically associated with viable gas station and convenience store operations, which generally require 10,000 or more daily vehicles. Six competing gas stations within a half mile create acute saturation relative to the available demand pool. Walk Score of 38 and Bike Score of 21 confirm the site's car-dependent, low-activity character.
FEMA Zone X designation confirms minimal flood exposure, which is a modest positive. No EV charging infrastructure within five miles reflects market underdevelopment but is consistent with the rural profile. State-level crime data was unavailable, limiting full risk assessment.
The lease expires November 30, 2027, leaving only 1.4 years of contracted income, with one renewal option requiring notice by March 1, 2027. Rent at expiration data is unavailable, preventing a mark-to-market assessment. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with approximately 3,500 locations, provides meaningful credit quality, but that strength is largely consumed by the short duration. A buyer is effectively acquiring near-term rollover risk in a declining rural market with uncertain re-tenanting optionality.
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