GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
817 Lynn Garden Dr, Kingsport, TN
| 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 | $107,485 |
| Base rent $/SF | $28.33 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2006 |
| Building SF | 3,794 |
| Land area (acres) | 0.81 |
| Pre G&A CFC | 0.91x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 817 Lynn Garden Dr |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 4,598 | 32,639 | 61,740 |
| Households | 1,967 | 14,555 | 26,881 |
| Pop. density (/sq mi) | 1,464 | 1,154 | 786 |
| Avg HH income | $50,482 | $68,394 | $74,671 |
| Poverty rate | 29.4% | 22.6% | 20.6% |
| Bachelor's+ | 15.3% | 21.5% | 23.2% |
| Median home value | $135,300 | $160,927 | $175,379 |
| Median rent | $649 | $804 | $824 |
| Median age | 35 | 42 | 42 |
| Owner-occupied | 55.1% | 62.9% | 64.5% |
FasMart Store 2553 at 817 Lynn Garden Dr is a 3,794 SF convenience store on 0.81 acres in Kingsport, Tennessee, occupied by GPM Investments under a lease expiring November 2027. The site scores 68/100 on location grade, reflecting adequate but not exceptional fundamentals. With only 1.3 years of remaining term, this offering is essentially a near-term rollover play priced on a below-market rent structure.
The immediate one-mile trade area shows a population of 4,598 with a 29.4% poverty rate and average household income of $50,482, indicating a value-oriented consumer base. The three-mile ring broadens to 32,639 residents with average household income of $68,394, more representative of the broader Kingsport market. Population density remains suburban-light at roughly 1,154 per square mile at three miles, sufficient for a convenience fuel format but not indicative of a high-volume urban node.
Sullivan County is a stable mid-tier metro market with 2.8% population growth from 2020 to 2024 and a low unemployment rate of 3.4%, suggesting a functioning local economy. Kingsport anchors the Tri-Cities MSA, a mature Appalachian region without meaningful near-term growth catalysts. Retail and food service establishment counts are adequate but reflect a secondary market that will not generate significant rent escalation pressure at renewal.
The site sits 0.01 miles from a major road, providing direct arterial exposure. However, 16 competing gas stations within one mile and two within half a mile represent a dense competitive environment that constrains pricing power and volume upside. A Walk Score of 49 confirms car-dependent access, consistent with the convenience fuel format but offering no pedestrian demand supplementation.
The FEMA flood designation is Zone X, indicating minimal flood hazard. State-level crime data was not available for direct scoring. The site faces no material environmental or physical hazard flags based on available inputs.
With 1.3 years of term remaining and a March 2027 notice deadline for the single renewal option, a buyer assumes near-term rollover risk at acquisition. Current rent is $107,485 annually at $28.33 per square foot, and no rent at expiration figure is disclosed, making it impossible to assess in-place versus market rent spread. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator at approximately 3,500 locations, provides meaningful credit support. However, ARKO has faced margin pressure publicly, and short remaining term limits the duration of that credit benefit to any buyer.
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