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 | 0.8 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 (GPM Investments) convenience store at 112 E 14th St, Anderson, IN carries a location grade of 62/100, reflecting a functionally adequate but competitively pressured urban site. With only 0.8 years of remaining lease term and a near-term rollover event, this offering is priced and underwritten as a value-add or repositioning play rather than a stabilized income asset.
The immediate one-mile trade area shows a population of 10,718 at a density of 3,412 per square mile, but average household income of $44,470 and a poverty rate of 29.9 percent signal a low-to-moderate income consumer base. The three-mile ring expands to 50,688 residents with an average household income of $61,352, though a median home value of $105,696 and bachelor's degree attainment of only 15.2 percent reinforce a modest socioeconomic profile.
Madison County posted population growth of 3.1 percent from 2020 to 2024, reaching 134,222, with unemployment at a healthy 3.6 percent. The local retail and food service base of 561 combined establishments indicates moderate commercial density, consistent with a secondary Midwest market rather than a primary growth corridor.
The site benefits from direct access to a major road at 0.01 miles and a Walk Score of 75, supporting baseline convenience-oriented foot traffic. However, AADT of only 3,462 vehicles per day is materially below typical gas station benchmarks, and daytime employment density within one mile of 5,605 jobs is modest.
The site faces no meaningful flood exposure, sitting in FEMA Zone X. No crime data was available for independent underwriting, which requires buyers to conduct their own local diligence. Physical obsolescence is a consideration given the 1975 vintage building.
With only 0.8 years remaining on the lease and a notice deadline of September 3, 2026, a buyer acquires near-certain rollover risk at closing. Current rent of $53,113 annually at $17.02 per square foot provides limited income runway, and no rent at expiration data is disclosed, creating re-leasing uncertainty. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator with roughly 3,500 locations, offers institutional-grade credit quality, but that credit backstop expires with the lease. Renewal optionality of one five-year term exists but is not obligated, and whether GPM elects to renew will depend heavily on site-level performance metrics buyers cannot fully verify at acquisition.
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