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 | 2.8 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 location at 1800 US 52 W in West Lafayette, Indiana is a 6,090 SF convenience store and gas station on 2.45 acres, leased to GPM Investments through May 2029 with 2.8 years of remaining term. The site earns a Strong location grade of 65/100, supported by a dense university-adjacent trade area and zero direct fuel competitors within half a mile. Near-term lease rollover is the defining risk for any acquirer.
The immediate one-mile ring holds 13,479 residents at 4,290 per square mile with average household income of $65,750. The three-mile population expands to 70,482, though a 22.2% poverty rate and median home value of $163,050 signal a renter-heavy, income-constrained customer base heavily influenced by Purdue University enrollment. Five-mile average household income of $68,376 is adequate but not exceptional for a net lease underwriting.
Tippecanoe County is a stable mid-size metro with 191,650 residents, 3.1% unemployment, and 2.8% population growth since 2020, anchored by Purdue University as the dominant economic driver. The trade area supports meaningful daytime capture given 39,441 jobs within three miles, though the low day-to-night population ratio of 0.09 within one mile indicates limited overnight residential density immediately surrounding the site.
Traffic of 11,146 AADT is moderate and below the threshold preferred for top-tier fuel sites, and a Walk Score of 43 confirms full car dependency with limited transit or pedestrian support. Eleven nearby restaurants and seven retail tenants within one mile provide complementary trip generation, but the highway proximity of 0.81 miles limits direct freeway visibility and impulse capture.
Environmental exposure is minimal with a FEMA Zone X designation. The 37 EV charging stations within five miles represent a growing infrastructure footprint that warrants monitoring for long-term fuel demand. Crime data was not available for independent verification at the state level.
With only 2.8 years of remaining term, a buyer is acquiring a near-term rollover event rather than a long-duration income stream. The $296,733 annual rent at $48.72 per square foot is the in-place rate through May 2029, with no disclosed rent at expiration to benchmark escalation or market alignment. The single five-year renewal option with a September 2028 notice deadline provides limited runway to resolve retenanting risk. GPM Investments, backed by Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator, offers credible institutional credit, but a buyer must underwrite the renewal decision independently given ARKO's portfolio rationalization activity in recent years.
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