GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
6886 Gate City Hwy, Bristol, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.3 yrs |
| Lease term (months) | — |
| Annual base rent | $73,590 |
| Base rent $/SF | $26.62 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1999 |
| Building SF | 2,764 |
| Land area (acres) | 0.42 |
| Pre G&A CFC | 1.93x (2024) |
| Lease status | Active |
Bristol is home to Bristol Motor Speedway (the "World's Fastest Half-Mile," 160,000+ race-day capacity), the Hard Rock Bristol casino, and the Birthplace of Country Music — large event-driven demand spikes not captured by resident metrics.
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 | 0 | 13,034 | 38,015 |
| Households | 0 | 5,998 | 16,435 |
| Pop. density (/sq mi) | 0 | 461 | 484 |
| Avg HH income | — | $56,949 | $67,134 |
| Poverty rate | — | 17.0% | 16.3% |
| Bachelor's+ | — | 18.3% | 23.3% |
| Median home value | — | $143,824 | $167,000 |
| Median rent | — | $779 | $783 |
| Median age | — | 43 | 44 |
| Owner-occupied | — | 63.3% | 65.5% |
FasMart Store #2540 at 6886 Gate City Hwy, Bristol, VA is a 2,764 SF convenience store on 0.42 acres operated by GPM Investments under a lease expiring November 2027, leaving approximately 1.3 years of remaining term. The site earns a location grade of 56 out of 100, reflecting moderate fundamentals in a low-density, auto-dependent corridor. This offering presents near-term rollover risk offset by a creditworthy guarantor and a stable secondary market.
The immediate one-mile trade area registers zero residential population, indicating the site draws from a drive-through rather than a walk-up customer base. The three-mile ring holds 13,034 residents with average household income of $56,949 and a 17.0% poverty rate, suggesting modest consumer spending power. The five-mile population expands to 38,015 with average household income rising to $67,134, providing a marginally broader demand base.
Washington County sits within a metro area of 250,000 to one million people, with a stable but nearly flat population trend of 0.4% growth from 2020 to 2024. Unemployment is low at 3.0% and the county supports 1,170 total establishments and 17,602 employees, a modest but functional economic base. The Bristol market is a regional trade hub for southwest Virginia, though organic growth catalysts are limited.
AADT of 4,400 vehicles per day is below average for a gas station investment, reducing throughput-driven revenue potential. Walk Score of 6 confirms near-total car dependency, and only one nearby restaurant and four retail tenants within one mile signal a sparse commercial node. One competing gas station exists within both the half-mile and one-mile radius, representing contained but present competitive pressure.
FEMA Flood Zone X designation confirms minimal flood exposure, which is a clean environmental baseline for the physical asset. State-level crime data was not available for this analysis. The site was built in 1999, placing it at 25 years of age and potentially approaching capital expenditure cycles for canopy, dispensers, or underground storage systems.
With only 1.3 years remaining on the lease and a notice deadline of March 2027 for the sole remaining renewal option, a buyer faces immediate rollover risk and limited income visibility. Annual rent of $73,590 at $26.62 per square foot is below market for well-located c-store assets, and no rent at expiration data is available to project forward cash flow. GPM Investments as guarantor, backed by ARKO Corp., a Nasdaq-listed operator of roughly 3,500 sites, provides meaningful credit quality, but that guarantee terminates at lease expiration, shifting the risk profile materially at rollover.
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