GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
8369 Highway 19 E, Roan Mountain, TN
| 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 | $99,125 |
| Base rent $/SF | $28.80 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2003 |
| Building SF | 3,442 |
| Land area (acres) | 0.47 |
| Pre G&A CFC | 3.20x (2024) |
| Lease status | Active |
Roan Mountain is the gateway to Roan Mountain State Park and Appalachian Trail access (Carvers Gap), drawing seasonal outdoor-recreation tourism well beyond its 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 | 0 | 3,512 | 3,512 |
| Households | 0 | 1,192 | 1,192 |
| Pop. density (/sq mi) | 0 | 124 | 45 |
| Avg HH income | — | $67,754 | $67,754 |
| Poverty rate | — | 23.6% | 23.6% |
| Bachelor's+ | — | 14.5% | 14.5% |
| Median home value | — | $157,600 | $157,600 |
| Median rent | — | $905 | $905 |
| Median age | — | 41 | 41 |
| Owner-occupied | — | 90.3% | 90.3% |
This FasMart convenience store and gas station at 8369 Highway 19 E in Roan Mountain, Tennessee is a rural net lease asset with 1.3 years of remaining term and a corporate guarantee from GPM Investments, a subsidiary of publicly traded ARKO Corp. The location scores 54 out of 100, reflecting the structural limitations of a low-density Appalachian trade area. Near-term lease rollover dominates the investment thesis and will drive buyer underwriting.
The immediate one-mile ring shows effectively zero permanent residents, with meaningful population only emerging at the three-mile band at 3,512 people and a density of 124 per square mile. Average household income of $67,754 is adequate but a poverty rate of 23.6 percent and a bachelor's attainment rate of 14.5 percent reflect a working-class rural base with limited spending depth. Population is static from three to five miles, signaling a constrained and unlikely-to-grow trade area.
Carter County is a small metro market with modest growth, adding roughly 1,000 residents between 2020 and 2024 and carrying a 4.0 percent unemployment rate. The county's 742 total establishments and 8,912 employees represent a thin economic base with limited commercial demand drivers. Daytime employment within one mile is only 87 workers, confirming that this site depends almost entirely on pass-through traffic rather than a captive workforce.
The site sits directly on Highway 19 E with zero offset from the nearest major road, providing genuine corridor exposure in an otherwise auto-dependent environment. A Walk Score of 18 and Bike Score of 10 confirm that all patron access is vehicle-based, and ten nearby restaurants within one mile suggest some local activity cluster. However, two competing gas stations within half a mile compress pricing power and limit market share upside.
Flood exposure is minimal under FEMA Zone X designation. Crime statistics were not available at the state level for this analysis. The EV charging infrastructure in the area is nascent with only one station within five miles, reducing near-term transition risk but offering no competitive differentiation.
With only 1.3 years of term remaining and a March 2027 renewal notice deadline, a buyer is acquiring rollover risk as much as income. The current rent of $99,125 annually at $28.80 per square foot provides no visibility into post-expiration economics, as rent at expiration is not disclosed. The single remaining renewal option provides some continuity possibility, but the guarantor credit partially offsets timing pressure. GPM Investments, backed by ARKO Corp. on Nasdaq with approximately 3,500 sites nationally, is a credible institutional covenant, though near-term lease decisions will reflect local store-level performance rather than parent-company strength alone.
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