GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
209 State Route 708, Russells Point, OH
| Tenant / d/b/a | Village Variety |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Feb 29, 2008 |
| Lease expiration | Feb 29, 2028 |
| Remaining term | 1.6 yrs |
| Lease term (months) | — |
| Annual base rent | $216,296 |
| Base rent $/SF | $73.07 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Aug 02, 2027 |
| Year built | 2001 |
| Building SF | 2,960 |
| Land area (acres) | 0.89 |
| Pre G&A CFC | 3.69x (2024) |
| Lease status | Active |
Russells Point sits on Indian Lake, a regional boating/fishing resort destination in west-central Ohio, drawing seasonal recreation tourism beyond the small 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 | 1,821 | 4,436 | 7,420 |
| Households | 968 | 2,315 | 3,669 |
| Pop. density (/sq mi) | 580 | 157 | 94 |
| Avg HH income | $61,512 | $65,240 | $89,145 |
| Poverty rate | 25.9% | 17.7% | 16.9% |
| Bachelor's+ | 21.8% | 18.1% | 19.8% |
| Median home value | $123,600 | $114,993 | $162,893 |
| Median rent | $785 | $804 | $907 |
| Median age | 47 | 48 | 51 |
| Owner-occupied | 63.0% | 77.3% | 82.4% |
209 State Route 708 is a 2,960 SF Fas Mart convenience store and gas station operating in Russells Point, Ohio, a small nonmetro community in Logan County. The property earns a location grade of 60 out of 100, reflecting adequate but not exceptional trade area fundamentals. With 1.6 years of remaining lease term and a single renewal option, near-term rollover risk dominates the investment thesis.
The immediate one-mile population is modest at 1,821 residents with above-average poverty of 25.9 percent and average household income of $61,512, limiting organic demand growth. The three-mile trade area expands to 4,436 residents with a slightly healthier income profile at $65,240 average household income, though median home values of $114,993 signal a working-class consumer base. Density is thin across all radii, topping out at 580 persons per square mile at one mile.
Logan County is a nonmetro, metro-adjacent market with a flat population trend, declining fractionally from 46,114 to 46,085 between 2020 and 2024. The local economy supports 17,033 employees across 867 establishments, with unemployment at 4.2 percent. Daytime employment density within one mile is sparse at 345 jobs, limiting impulse traffic capture.
The site sits 0.01 miles from a major road with zero competing gas stations within one mile, providing meaningful local monopoly positioning for fuel and convenience needs. However, Walk Score of 37 confirms full car dependency, and nearby retail density is thin with only four retail establishments within one mile. A dollar store within 0.5 miles presents modest convenience merchandise competition.
Flood risk is minimal under FEMA Zone X designation. No EV charging infrastructure exists within five miles, which is a neutral factor today but a long-term demand consideration. Crime data was unavailable for independent verification at the state level.
At $216,296 in annual base rent against a 1.6-year remaining term, a buyer faces imminent rollover risk with the critical notice date arriving August 2027. Rent at expiration is not disclosed, making it impossible to assess in-place rent versus market without additional diligence. The single remaining renewal option provides limited long-term income certainty. GPM Investments, as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator with roughly 3,500 locations, provides investment-grade-adjacent credit quality that partially offsets term risk, but buyers must underwrite re-tenanting or renewal negotiation scenarios aggressively.
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