GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
404 W Pike St, Jackson Center, OH
| Tenant / d/b/a | Village Variety |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Feb 29, 2008 |
| Lease expiration | Aug 31, 2029 |
| Remaining term | 3.1 yrs |
| Lease term (months) | — |
| Annual base rent | $145,584 |
| Base rent $/SF | $56.89 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Feb 03, 2029 |
| Year built | 1986 |
| Building SF | 2,559 |
| Land area (acres) | 1.75 |
| Pre G&A CFC | 0.10x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 404 W Pike St |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 4,267 | 4,267 |
| Households | 0 | 1,599 | 1,599 |
| Pop. density (/sq mi) | 0 | 151 | 54 |
| Avg HH income | — | $99,538 | $99,538 |
| Poverty rate | — | 6.6% | 6.6% |
| Bachelor's+ | — | 24.4% | 24.4% |
| Median home value | — | $200,000 | $200,000 |
| Median rent | — | $918 | $918 |
| Median age | — | 38 | 38 |
| Owner-occupied | — | 80.4% | 80.4% |
This Fas Mart-branded convenience store and gas station in Jackson Center, Ohio is operated by Village Variety under a GPM Investments lease expiring August 2029, yielding $145,584 in annual base rent on a 2,559 SF building. The site earned a location grade of 61 out of 100, reflecting adequate but not exceptional fundamentals for a rural convenience retail asset. The investment thesis rests primarily on the strength of the guarantor credit and near-term income certainty rather than demographic momentum.
The trade area is thinly populated, with the 3-mile ring holding just 4,267 residents at a density of 151 per square mile. Average household income of $99,538 and a low poverty rate of 6.6% indicate a stable, modestly affluent rural base, and 80.4% owner occupancy signals residential stability. Population growth is flat, and the identical 3-mile and 5-mile figures suggest the market does not meaningfully expand beyond the immediate community.
Jackson Center sits in Shelby County, a nonmetro, metro-adjacent market with 47,952 residents and a modest 4.1% unemployment rate. The county's 997 total establishments and 24,958 employees reflect a functioning but limited local economy. Slight population decline of 0.4% from 2020 to 2024 is a mild headwind with no near-term catalyst for reversal.
The site sits 0.01 miles from the nearest major road, providing strong access and visibility for fuel and convenience traffic. However, the Walk Score of 30 confirms full car dependency, and nearby amenity density is thin with only 7 restaurants and 5 retail destinations within one mile. One competing gas station within half a mile introduces some demand pressure but does not represent a saturated competitive environment.
FEMA flood zone classification is Zone X, indicating minimal flood hazard. State-level crime data was unavailable for this analysis. There are no EV charging stations within five miles, which currently presents no direct threat to fuel volumes but reflects limited infrastructure investment in the surrounding area.
With 3.1 years of remaining term and a February 2029 renewal notice deadline, a buyer faces near-term rollover risk. Current rent of $145,584 with no disclosed rent at expiration limits visibility into post-renewal economics. One of two renewal options remains unexercised. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator with roughly 3,500 locations, provides meaningful credit support. The guarantor's scale and public reporting status reduce default probability, but the short remaining term compresses exit optionality and demands a pricing discount to reflect re-tenanting exposure.
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