GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3760 N Franklin Rd, Indianapolis, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2029 |
| Remaining term | 2.9 yrs |
| Lease term (months) | — |
| Annual base rent | $115,038 |
| Base rent $/SF | $31.95 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2028 |
| Year built | 1989 |
| Building SF | 3,600 |
| Land area (acres) | 1.15 |
| Pre G&A CFC | 1.04x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 10,811 | 99,992 | 209,644 |
| Households | 3,837 | 41,122 | 86,461 |
| Pop. density (/sq mi) | 3,441 | 3,536 | 2,669 |
| Avg HH income | $44,895 | $58,409 | $74,523 |
| Poverty rate | 28.6% | 22.1% | 17.3% |
| Bachelor's+ | 13.8% | 18.8% | 27.4% |
| Median home value | $103,525 | $142,402 | $176,909 |
| Median rent | $1,206 | $1,043 | $1,092 |
| Median age | 30 | 32 | 34 |
| Owner-occupied | 45.0% | 43.2% | 55.2% |
This Village Pantry / Fas Mart (GPM Investments) net lease asset at 3760 N Franklin Rd, Indianapolis sits on 1.15 acres with 2.9 years of remaining term, generating $115,038 in annual base rent. The location scores 67/100, reflecting adequate but not exceptional fundamentals in a mid-density urban Indianapolis corridor. The investment thesis centers on near-term income stability backed by a publicly traded guarantor, with rollover risk as the defining underwriting concern.
The immediate trade area carries meaningful credit stress: the 1-mile population of 10,811 shows a 28.6% poverty rate and average household income of $44,895, below typical c-store benchmarks. The 3-mile ring broadens the picture modestly, with 99,992 residents, average HH income of $58,409, and a 43.2% homeownership rate, though poverty remains elevated at 22.1%. Income and educational attainment metrics (18.8% bachelor's degree attainment at 3 miles) suggest a value-oriented, fuel-dependent consumer base consistent with the c-store format.
Marion County is Indianapolis's urban core, a 1M-plus metro with 23,994 establishments and 535,145 employees, indicating a deep, diversified economic base. County population grew modestly from 976,706 to 981,628 between 2020 and 2024, and unemployment sits at 3.6%, signaling stability without strong growth momentum. The 36,890 daytime jobs within 3 miles provide a reliable captive customer pool for fuel and convenience purchases.
Traffic at 9,850 AADT is below the threshold preferred for high-performing fuel sites, and 11 competing gas stations within one mile represent meaningful supply pressure. The site sits 0.24 miles from a major road, and a Walk Score of 54 confirms a drive-to-destination format with limited pedestrian capture. Operational density is adequate but not a competitive moat.
The property falls in FEMA Flood Zone X, indicating minimal flood exposure. The 1989 vintage building at 3,600 SF introduces potential capital expenditure risk for an incoming owner should the tenant vacate. No specific crime data was provided, though the elevated local poverty rate warrants site-level due diligence.
With 2.9 years remaining and a single one-year renewal option requiring notice by September 2028, this is a short-duration income play with near-term rollover risk. Rent at expiration is unspecified, limiting visibility into upside or contractual escalation. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. c-store operator with roughly 3,500 locations, provides institutional-grade credit support through the lease term. A buyer accepts limited upside in exchange for a creditworthy covenant and must price in re-tenanting or vacant-building risk at a 2029 horizon.
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