GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1629 Raible Ave, Anderson, IN
| Tenant / d/b/a | Village Pantry |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 25, 2007 |
| Lease expiration | May 31, 2027 |
| Remaining term | 0.8 yrs |
| Lease term (months) | — |
| Annual base rent | $102,477 |
| Base rent $/SF | $33.53 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2026 |
| Year built | 1987 |
| Building SF | 3,056 |
| Land area (acres) | 4.34 |
| Pre G&A CFC | 1.39x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 8,911 | 39,340 | 58,394 |
| Households | 3,599 | 15,877 | 25,127 |
| Pop. density (/sq mi) | 2,836 | 1,391 | 743 |
| Avg HH income | $62,519 | $64,723 | $65,112 |
| Poverty rate | 18.9% | 19.7% | 19.4% |
| Bachelor's+ | 15.6% | 17.1% | 16.8% |
| Median home value | $97,694 | $104,809 | $112,238 |
| Median rent | $1,006 | $919 | $939 |
| Median age | 33 | 36 | 39 |
| Owner-occupied | 59.5% | 56.9% | 57.4% |
This Village Pantry/Fas Mart-branded convenience store at 1629 Raible Ave, Anderson, IN carries a location grade of 65/100 (Strong), reflecting adequate trade area population and a monopoly position within a half-mile, but tempered by modest traffic counts and a near-term lease expiration in May 2027. The asset presents as a rollover-risk play requiring a buyer to underwrite both re-lease probability and renewal economics before closing.
The 3-mile trade area holds roughly 39,340 residents at an average household income of $64,723, with a median home value of $104,809 and a poverty rate of 19.7%, indicating a working-class consumer base with limited discretionary upside. The 1-mile daytime employment figure of only 569 workers produces a day/night population ratio of 0.06, signaling a predominantly residential, low-commuter capture environment.
Madison County posted modest population growth of 3.1% from 2020 to 2024, reaching 134,222, and carries a healthy unemployment rate of 3.6%, suggesting a stable if unexceptional economic backdrop. With 345 retail and 216 food service establishments countywide, the competitive retail environment is functional but not dense, consistent with a secondary Midwest market.
The site sits 0.17 miles from a major road with an AADT of 9,281 vehicles per day, which is below the threshold typically associated with high-volume fuel destinations. The Walk Score of 57 and Bike Score of 44 indicate moderate accessibility, and the presence of zero competing gas stations within 0.5 miles provides a meaningful local capture advantage.
The property lies in FEMA Flood Zone X, indicating minimal flood exposure. The building dates to 1987, raising latent capital expenditure risk tied to aging infrastructure, fuel systems, and environmental compliance at the time of any lease transition. State-level crime statistics were not available for this analysis.
With only 0.8 years of remaining term and a renewal notice deadline of September 3, 2026, a buyer is effectively acquiring a near-term rollover event rather than stabilized cash flow. The current rent of $102,477 annually ($33.53/SF) provides no at-expiration comparison, making renewal rent negotiation the central underwriting variable. GPM Investments, LLC, as guarantor and a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. c-store operator with approximately 3,500 sites, provides institutional-grade credit support, but the single renewal option of one year limits long-term income visibility materially.
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