GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
6615 W Main St, Wise, 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 | $115,835 |
| Base rent $/SF | $31.84 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1999 |
| Building SF | 3,638 |
| Land area (acres) | 0.58 |
| Pre G&A CFC | 0.93x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 4,106 | 4,106 | 14,804 |
| Households | 1,677 | 1,677 | 6,165 |
| Pop. density (/sq mi) | 1,307 | 145 | 188 |
| Avg HH income | $68,829 | $68,829 | $64,580 |
| Poverty rate | 14.9% | 14.9% | 18.0% |
| Bachelor's+ | 23.3% | 23.3% | 19.0% |
| Median home value | $111,400 | $111,400 | $117,389 |
| Median rent | $779 | $779 | $799 |
| Median age | 38 | 38 | 40 |
| Owner-occupied | 81.5% | 81.5% | 72.2% |
This FasMart convenience store and gas station at 6615 W Main St in Wise, VA is a single-tenant net lease asset with 1.3 years of remaining term, modest traffic of 5,800 AADT, and a location graded Average at 55 out of 100. The property sits in a rural, population-declining Appalachian market with limited trade area depth, making near-term lease rollover the central underwriting concern for any prospective buyer.
The immediate 1- and 3-mile trade area shares an identical population of 4,106, indicating a compact, non-expanding customer base with average household income of $68,829 and a poverty rate of 14.9%. The 5-mile ring adds 14,804 residents but income softens to $64,580 and poverty rises to 18.0%, reinforcing the modest spending power of this rural catchment.
Wise County is a nonmetro, non-adjacent county that shed roughly 1,100 residents between 2020 and 2024, a 3.0% decline. With only 598 total business establishments and 7,678 employees countywide, the local economy offers limited insulation against tenant non-renewal or a re-leasing period.
The site has a Walk Score of 13 and a Bike Score of 5, confirming total auto dependency, which is consistent with a gas station format but signals no foot-traffic upside. Proximity to the nearest major road is effectively zero at 0.01 miles, and competitive pressure is contained with only one competing gas station within a full mile.
Flood exposure is minimal under FEMA Zone X. No meaningful environmental or crime data flags were identified in the provided inputs. The primary site-level risk is functional: a low-density, single-road rural location with thin daytime employment of only 242 workers within one mile limits organic volume growth.
With only 1.3 years remaining on the lease expiring November 30, 2027, a buyer is effectively acquiring a near-term rollover event, not a stabilized income stream. The notice date of March 1, 2027 is critical, as FasMart holds one remaining renewal option, and failure to exercise leaves the buyer with a vacant rural gas station in a declining county. Current rent of $115,835 annually provides no disclosed step-up at expiration, making renewal economics uncertain. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., provides institutional-grade credit quality as the sixth-largest U.S. convenience store operator, but that credit strength does not offset the short duration or location fundamentals.
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