GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
112 E 14th St, 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 | 0.9 yrs |
| Lease term (months) | — |
| Annual base rent | $53,113 |
| Base rent $/SF | $17.02 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/1 |
| Notice date | Sep 03, 2026 |
| Year built | 1975 |
| Building SF | 3,120 |
| Land area (acres) | 0.35 |
| Pre G&A CFC | 0.97x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 10,718 | 50,688 | 67,319 |
| Households | 4,212 | 21,491 | 28,889 |
| Pop. density (/sq mi) | 3,412 | 1,793 | 857 |
| Avg HH income | $44,470 | $61,352 | $67,316 |
| Poverty rate | 29.9% | 20.9% | 17.5% |
| Bachelor's+ | 12.1% | 15.2% | 17.9% |
| Median home value | $85,279 | $105,696 | $117,730 |
| Median rent | $835 | $930 | $951 |
| Median age | 32 | 38 | 40 |
| Owner-occupied | 33.5% | 55.6% | 61.5% |
This Village Pantry/Fas Mart convenience store at 112 E 14th St, Anderson, Indiana is a near-term rollover asset backed by a publicly traded operator with meaningful scale. The location scores 62/100, reflecting adequate but not exceptional fundamentals in a moderately distressed urban trade area. Buyers must underwrite lease renewal risk as the primary variable driving asset value.
The immediate one-mile population of 10,718 is constrained by a 29.9% poverty rate and average household income of $44,470, metrics that signal limited consumer spending power. The three-mile ring improves modestly to $61,352 average household income across 50,688 residents, though a 20.9% poverty rate and median home value of $105,696 underscore a working-class market profile. Population growth at the county level is modest but positive, up 3.1% from 2020 to 2024.
Madison County carries a metro classification and posts a healthy 3.6% unemployment rate supported by 34,031 county employees across 2,342 establishments. Anderson is a mid-sized Indiana city with a stabilizing but not expanding economic base, limiting organic rent growth potential. The surrounding retail environment is functional, with 345 retail establishments and 216 food service operators providing adequate demand infrastructure.
The site benefits from a Walk Score of 75 and direct frontage within 0.01 miles of a major road, supporting convenience-oriented traffic patterns. Daytime employment density of 5,605 workers within one mile provides a viable captive customer base. However, AADT of only 3,462 vehicles per day is well below institutional thresholds typically sought for gas station assets.
The site sits in FEMA Flood Zone X, presenting minimal environmental exposure. Competitive pressure is elevated, with 5 gas stations within a half-mile and 11 within one mile, creating meaningful market share risk in a low-income trade area. Only 2 EV charging stations exist within five miles, a neutral data point today but a long-term demand variable worth monitoring.
With only 0.9 years of remaining term and a notice deadline of September 3, 2026, a buyer is acquiring near-term rollover risk rather than stabilized income. Current rent of $53,113 annually provides no contractual rent escalation reference to expiration, leaving renewal economics entirely to negotiation. GPM Investments as guarantor, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with approximately 3,500 locations, provides institutional-grade credit behind that renewal conversation. The single five-year renewal option offers extension optionality but no certainty, and buyers should price this as a value-add or owner-operator acquisition with occupancy risk embedded in their return expectation.
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