GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
340 E Valley Dr, Bristol, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $58,821 |
| Base rent $/SF | $22.83 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2001 |
| Building SF | 2,576 |
| Land area (acres) | 1.12 |
| Pre G&A CFC | 1.53x (2024) |
| Lease status | Active |
Bristol is home to Bristol Motor Speedway (160,000+ race-day capacity), the Hard Rock Bristol casino, and the Birthplace of Country Music — large event-driven demand 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 | 2,994 | 35,818 | 44,069 |
| Households | 1,317 | 15,620 | 18,977 |
| Pop. density (/sq mi) | 953 | 1,267 | 561 |
| Avg HH income | $99,162 | $70,986 | $72,946 |
| Poverty rate | 6.1% | 15.1% | 14.3% |
| Bachelor's+ | 35.4% | 27.8% | 26.9% |
| Median home value | $235,700 | $168,929 | $177,699 |
| Median rent | $773 | $831 | $841 |
| Median age | 51 | 43 | 44 |
| Owner-occupied | 87.3% | 64.6% | 69.2% |
340 E Valley Dr is a 2,576 SF FasMart convenience store and gas station in Bristol, Virginia, operating under a lease expiring November 2027 with approximately 1.4 years of remaining term. The site scores 52 out of 100 on location grade, reflecting average fundamentals in a shrinking secondary market. This is a short-duration income play with near-term rollover risk that requires careful underwriting of both retenanting probability and local demand drivers.
The immediate 1-mile trade area is thin, with only 2,994 residents at a density of 953 per square mile, though average household income of $99,162 is a relative bright spot. The broader 3-mile ring shows a more typical Appalachian profile: $70,986 average household income, 15.1% poverty, and a median home value of $168,929. Population density drops sharply at 5 miles to 561 per square mile, indicating limited depth of demand beyond the core corridor.
Bristol city has lost 5.7% of its population since 2020, declining from 17,303 to 16,316, signaling structural demographic headwinds rather than cyclical softness. The market is classified as a 250K-to-1M metro, but the local employment base is modest at 7,379 total employees across 531 establishments. Daytime job density within 1 mile is only 714, limiting the commuter and captive-traffic thesis that typically supports convenience retail.
Traffic counts of 4,900 vehicles per day are below average for a viable gas station pad site, where 10,000-plus is the institutional baseline. A Walk Score of 18 confirms near-total auto dependency, and with 5 competing gas stations within 1 mile, the site faces meaningful share fragmentation. Proximity of 0.36 miles to the nearest major road is acceptable but does not compensate for the low-volume corridor.
Flood exposure is minimal under FEMA Zone X designation. No dollar or discount store competition within half a mile modestly reduces convenience-store margin pressure from that channel. State-level crime data was not available for this analysis and should be sourced independently prior to closing.
With only 1.4 years remaining and a March 2027 notice deadline for the single remaining renewal option, a buyer acquires near-term binary risk: either GPM exercises the option or the site faces vacancy in a thin leasing market. Current rent of $58,821 annually at $22.83 per square foot provides no disclosed step-up at expiration, making rent mark-to-market at rollover uncertain. GPM Investments, as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator, offers investment-grade-adjacent credit quality, but that strength does not eliminate the probability that GPM rationalizes underperforming locations given ongoing portfolio optimization across its 3,500-site network.
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