GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
10655 N Michigan Rd, Zionsville, 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 | $328,675 |
| Base rent $/SF | $65.77 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2028 |
| Year built | 1998 |
| Building SF | 4,997 |
| Land area (acres) | 2.79 |
| Pre G&A CFC | 3.63x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 40,222 | 120,148 |
| Households | 0 | 16,928 | 47,075 |
| Pop. density (/sq mi) | 0 | 1,423 | 1,530 |
| Avg HH income | — | $161,517 | $159,167 |
| Poverty rate | — | 7.1% | 7.7% |
| Bachelor's+ | — | 65.6% | 62.0% |
| Median home value | — | $419,071 | $409,050 |
| Median rent | — | $1,798 | $1,617 |
| Median age | — | 39 | 38 |
| Owner-occupied | — | 62.2% | 64.5% |
This Village Pantry / Fas Mart (GPM Investments) net lease asset at 10655 N Michigan Rd in Zionsville, Indiana offers exposure to one of the Indianapolis metro's strongest affluent suburban trade areas, backed by a publicly traded guarantor with national scale. At 2.8 years of remaining term and $328,675 in annual base rent, the investment is priced for near-term rollover risk as much as in-place income.
The 3-mile ring posts average household income of $161,517, median home values of $419,071, and a bachelor's degree attainment rate of 65.6%, reflecting a deeply affluent, educated suburban consumer base. The 5-mile population of 120,148 at comparable income levels confirms broad trade area depth. Poverty rates of 7.1% to 7.7% are well below national norms.
Hamilton County is one of the fastest-growing counties in the Midwest, expanding 8.8% from 2020 to 2024 and now exceeding 379,000 residents within a Metro 1M+ MSA. Unemployment at 2.8% and a dense base of 10,169 business establishments signal a fundamentally healthy demand environment. Daytime employment of 43,842 within 3 miles anchors consistent convenience-store traffic patterns.
Site traffic of 4,450 AADT is below average for a gas station trade, and five competing stations within one mile represent meaningful fuel and convenience competition. However, proximity of 0.01 miles to a major road and 20 nearby restaurants and retailers within one mile support ancillary foot traffic. The location grades as Strong at 67/100, appropriate given the affluent context offset by competitive density.
FEMA Flood Zone X designation confirms minimal environmental exposure. Crime data at the state level was not available for direct comparison, though Hamilton County's economic profile is consistent with below-average crime rates. No material environmental or natural hazard flags are evident from available data.
With 2.8 years of term remaining and a notice date of September 2028, a buyer acquires meaningful near-term rollover exposure. Rent at expiration is not disclosed, limiting visibility into lease-up economics. The single 1-year renewal option provides limited contractual runway, making re-tenanting or disposition planning essential at acquisition. The guaranty from GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp. and the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit support through expiration, partially offsetting short-term concerns.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
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