GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3470 Seminole Trail, Charlottesville, VA
| Tenant / d/b/a | Every Day Shop & Cafe |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | May 26, 2011 |
| Lease expiration | May 31, 2031 |
| Remaining term | 4.8 yrs |
| Lease term (months) | — |
| Annual base rent | $284,928 |
| Base rent $/SF | $112.35 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/4 |
| Notice date | Nov 02, 2030 |
| Year built | 1992 |
| Building SF | 2,536 |
| Land area (acres) | 1.14 |
| Pre G&A CFC | 0.37x (2023) |
| Lease status | Active |
Charlottesville is home to the University of Virginia and Monticello — a major university plus heavy heritage tourism. Student and visitor demand supplement the resident base.
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 | 7,710 | 15,107 | 35,534 |
| Households | 2,933 | 5,521 | 14,641 |
| Pop. density (/sq mi) | 2,454 | 534 | 452 |
| Avg HH income | $133,582 | $142,720 | $136,948 |
| Poverty rate | 5.6% | 5.6% | 7.1% |
| Bachelor's+ | 53.2% | 56.2% | 58.7% |
| Median home value | $400,572 | $411,984 | $444,708 |
| Median rent | $2,065 | $1,940 | $1,818 |
| Median age | 38 | 40 | 42 |
| Owner-occupied | 85.2% | 85.7% | 70.2% |
This Fas Mart-branded convenience store and gas station at 3470 Seminole Trail operates under a GPM Investments/ARKO Corp. guarantee with 4.8 years of remaining term in a suburban Charlottesville corridor. The site scores 65/100 on location grade, reflecting a functional but competitively pressured position with solid surrounding demographics and a creditworthy institutional tenant.
The 1-mile trade area posts average household income of $133,582 with a low 5.6% poverty rate and a population of 7,710, indicating a stable, affluent consumer base. The 3-mile ring reinforces that profile with 85.7% owner occupancy, 56.2% bachelor-degree attainment, and median home values of $411,994, all well above national norms.
Albemarle County is a small but fundamentally sound metro, growing 4.2% from 2020 to 2024 and carrying a 2.3% unemployment rate that signals a tight, healthy local labor market. University of Virginia anchors the regional economy, supporting stable daytime employment density and a well-educated, higher-income consumer base that benefits convenience retail.
The site sits 0.01 miles from a major road with 5,500 AADT, a modest traffic count for a gas station asset that typically requires 15,000-plus vehicles per day to demonstrate strong fuel volume. A Walk Score of 49 confirms car dependency, and with 3 competing gas stations within 0.5 miles, the immediate competitive environment is meaningful.
The site's FEMA designation is Zone X, indicating minimal flood exposure. State-level violent and property crime data were not provided, limiting a complete public safety assessment. No additional environmental or structural concerns are flagged in the available data.
The lease runs to May 2031, leaving approximately 4.8 years of term, which creates near-term rollover risk that buyers must price carefully. Current rent of $284,928 annually reflects $112.35 per square foot, and with no disclosed rent at expiration or escalation schedule, income trajectory is opaque. The single 4-year renewal option with a November 2030 notice date provides limited extension runway. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides institutional-grade credit support, which partially offsets the short remaining term.
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