GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
16402 Wise St, 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 | $146,286 |
| Base rent $/SF | $31.65 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1996 |
| Building SF | 4,622 |
| Land area (acres) | 1.12 |
| Pre G&A CFC | 0.24x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 16402 Wise St |
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 — destination-recreation demand 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 | 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 16402 Wise St, Saint Paul, VA is a 4,622 SF net lease asset on 1.12 acres with 1.3 years of remaining term and a location grade of 17 out of 100. The site operates in a deeply rural, declining Appalachian market with negligible population density at the 1- and 3-mile rings and elevated competitive pressure from six rival fuel stations within a half mile. The investment thesis rests almost entirely on the credit quality of the guarantor and near-term income clarity, not location fundamentals.
Population data is effectively zero within 1 and 3 miles, with only 4,717 residents across the full 5-mile trade area at a density of 60 per square mile, well below any threshold institutional buyers typically require for gas station viability. Average household income of $58,588 and a 21.6% poverty rate at 5 miles confirm a thin, economically stressed consumer base. These figures offer no demographic support for rent growth or alternative-use repositioning.
Wise County is a nonmetro Appalachian jurisdiction that lost 3.0% of its population between 2020 and 2024, reflecting structural regional decline. The local economy supports only 598 total establishments and 7,678 employees countywide, limiting organic demand drivers. With 4,000 vehicles per day at the site and daytime employment of just 986 workers within 3 miles, the fuel volume opportunity is materially constrained.
The site sits 0.05 miles from the nearest major road, providing direct access, but a Walk Score of 40 and Bike Score of 36 confirm full car dependency. Nearby retail and restaurant density of 14 establishments each within 1 mile indicates a modest commercial node, though six competing fuel stations within the same half-mile radius creates severe saturation for this traffic count.
The property falls within FEMA Zone X, indicating minimal flood exposure. No EV charging infrastructure exists within 5 miles, which limits near-term displacement risk from electrification but also reflects the area's infrastructure lag. State-level crime data was unavailable for independent assessment.
With only 1.3 years remaining, a buyer faces immediate rollover risk. The renewal notice deadline of March 2027 arrives quickly, and with no disclosed rent at expiration or escalation data, there is no contractual income visibility beyond November 2027. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit behind the lease. However, strong guarantor credit cannot offset the combination of a distressed location grade, population decline, and near-term lease expiration without knowing the renewal economics.
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