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 | 2.8 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) convenience store at 3760 N Franklin Rd, Indianapolis, IN carries a location grade of 67 out of 100, indicating a functional but not exceptional site. With 2.8 years of term remaining and a single one-year renewal option, the investment is primarily a short-duration income play backed by a publicly traded guarantor rather than a long-term credit story.
The immediate one-mile trade area shows a population of 10,811 with average household income of $44,895 and a poverty rate of 28.6%, which is below the threshold for a strong convenience retail customer base. The three-mile ring improves modestly to 99,992 residents and $58,409 average household income, though a 22.1% poverty rate and 43.2% homeownership rate suggest a renter-heavy, economically constrained catchment. The income profile is consistent with core c-store fuel-and-tobacco demand but limits trade-area resilience.
Marion County anchors the Indianapolis MSA, a top-tier Midwest metro with over 981,000 residents and a 3.6% unemployment rate, providing a stable macroeconomic backdrop. The site benefits from 36,890 daytime workers within three miles, though a day-to-night ratio of 0.53 reflects meaningful commuter-oriented demand patterns rather than dense residential traffic.
Site-level traffic is modest at 9,850 AADT with proximity of 0.24 miles to a major road, which is adequate but not a high-visibility arterial location. A Walk Score of 54 and Transit Score of 35 confirm the site is auto-dependent, consistent with the c-store format but limiting walk-in and transit-rider capture.
Competitive density is elevated, with 11 gas stations within one mile, creating meaningful price and volume pressure on this operator. The FEMA flood designation is Zone X, presenting no material environmental exposure. Crime data was not available for site-level underwriting purposes, which investors should independently verify given the poverty rate profile.
The lease runs to May 2029 with only 2.8 years remaining, creating near-term rollover risk and requiring a buyer to underwrite either a renewal at an unspecified rate or a re-tenanting scenario. Current rent of $115,038 ($31.95 per square foot) has no disclosed escalation to expiration, leaving rent growth entirely dependent on renewal negotiation. The single one-year option with a September 2028 notice date provides minimal runway extension. GPM Investments, as a subsidiary of ARKO Corp. (Nasdaq: ARKO), the sixth-largest U.S. c-store operator at roughly 3,500 locations, offers investment-grade-adjacent credit quality, which partially offsets the short remaining term.
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