GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1800 U S 52 W, West Lafayette, 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 | $296,733 |
| Base rent $/SF | $48.72 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2028 |
| Year built | 2000 |
| Building SF | 6,090 |
| Land area (acres) | 2.45 |
| Pre G&A CFC | 0.65x (2024) |
| Lease status | Active |
West Lafayette is home to Purdue University, which enrolls the largest student body of any single university campus in Indiana — a large student/daytime demand base beyond resident rooftops.
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 | 13,479 | 70,482 | 119,909 |
| Households | 5,759 | 32,215 | 47,319 |
| Pop. density (/sq mi) | 4,290 | 2,493 | 1,527 |
| Avg HH income | $65,750 | $62,690 | $68,376 |
| Poverty rate | 14.1% | 22.2% | 21.7% |
| Bachelor's+ | 25.5% | 31.8% | 34.3% |
| Median home value | $166,393 | $163,050 | $189,936 |
| Median rent | $1,087 | $1,074 | $1,105 |
| Median age | 36 | 32 | 31 |
| Owner-occupied | 66.1% | 43.2% | 46.5% |
This Village Pantry / Fas Mart (GPM Investments) convenience store at 1800 U.S. 52 West in West Lafayette, Indiana is a mid-term net lease investment with 2.9 years of remaining term, backed by a publicly traded corporate guarantor. The site earns a location grade of 65/100 (Strong), supported by a dense university-adjacent trade area and zero direct gas station competition within a half-mile. Near-term lease rollover and a high local poverty rate are the primary investor concerns.
The immediate one-mile population of 13,479 at a density of 4,290 per square mile reflects a walkable urban fringe trade area anchored by Purdue University's enrollment base. Average household incomes are modest across all rings ($62,690 to $68,376), and poverty rates are elevated at 14.1% within one mile and 22.2% within three miles, consistent with a college-town demographic skew. These characteristics support convenience-format demand but constrain premium merchandise and fuel margin upside.
Tippecanoe County is a stable small metro (191,650 population, 2.8% growth since 2020) with a low 3.1% unemployment rate and a diversified economic base anchored by Purdue University. The county supports 3,754 business establishments and 71,528 employees, providing a steady daytime demand base, particularly relevant given 39,441 daytime workers within three miles. Market fundamentals are sound but not high-growth, typical of a mid-size Midwestern university metro.
The site records an AADT of 11,146 vehicles per day, a moderate traffic count for a convenience-fuel use. A Walk Score of 43 confirms car dependency, which is appropriate for the format, though 37 EV charging stations within five miles signals an evolving competitive dynamic for fuel demand over the medium term. Proximity to the broader Purdue corridor provides structural demand insulation.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard. No violent or property crime data was available for state-level benchmarking, which limits a full underwriting of site-level security risk. Physical environmental risk is low, but the absence of crime metrics warrants independent local verification.
With 2.9 years of remaining term and a single one-year renewal option, this investment carries meaningful near-term rollover risk, and the notice deadline of September 2028 compresses the decision window sharply. Current rent at $296,733 annually ($48.72 per square foot) is above typical convenience-store net lease norms, and no rent-at-expiration data is provided, creating re-leasing uncertainty. GPM Investments / ARKO Corp. (Nasdaq: ARKO) provides investment-grade-adjacent credit as the sixth-largest U.S. convenience operator with roughly 3,500 sites, but buyers should underwrite this as a value-add or re-tenanting play given the lease horizon.
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