GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
193 Woodland Dr SW, Wise, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $182,824 |
| Base rent $/SF | $43.42 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1993 |
| Building SF | 4,211 |
| Land area (acres) | 1.11 |
| Pre G&A CFC | 2.06x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 9,274 | 14,804 |
| Households | 0 | 3,771 | 6,165 |
| Pop. density (/sq mi) | 0 | 328 | 188 |
| Avg HH income | — | $69,405 | $64,580 |
| Poverty rate | — | 16.2% | 18.0% |
| Bachelor's+ | — | 22.5% | 19.0% |
| Median home value | — | $125,220 | $117,389 |
| Median rent | — | $852 | $799 |
| Median age | — | 38 | 40 |
| Owner-occupied | — | 78.0% | 72.2% |
FasMart Store #2534 at 193 Woodland Dr SW, Wise, VA is a 4,211 SF convenience store and gas station on 1.1 acres with 1.4 years of remaining lease term held by GPM Investments, LLC, a subsidiary of ARKO Corp. (Nasdaq: ARKO). The location scored 51 out of 100, reflecting a car-dependent, rural market with modest demographic depth and elevated competitive density. This is a near-term rollover story requiring buyers to underwrite re-tenancy or renewal probability in a tertiary Appalachian market.
The immediate one-mile ring shows no reportable residential population, indicating the site is positioned in a commercial or transitional corridor rather than a residential node. The three-mile trade area holds 9,274 residents at a low density of 328 per square mile, with average household income of $69,405, a 16.2% poverty rate, and median home values of $125,220. These metrics confirm a working-class rural consumer base with limited spending power and meaningful economic stress.
Wise County is a nonmetro, non-adjacent county with a declining population, down 3.0% from 36,066 in 2020 to 34,973 in 2024, reflecting persistent outmigration common to Appalachian Virginia. The county supports only 598 total business establishments and 7,678 employees, limiting the captive daytime demand base. Nearby daytime employment within three miles totals 6,554 jobs, which provides some stabilizing traffic offset.
The site sits 0.03 miles from a major road with 12,000 AADT, providing adequate but not exceptional traffic exposure for a fuel and convenience format. Walk Score of 40 confirms full car dependency, consistent with rural Virginia geography. The presence of 20 nearby restaurants and 15 retail establishments within one mile suggests a modest commercial cluster but not a dominant retail node.
Flood risk is minimal, classified FEMA Zone X. No state-level crime data was available for independent benchmarking. The physical asset is a 1993-vintage building, now over 30 years old, which may require capital investment upon lease rollover regardless of tenant outcome.
With only 1.4 years of remaining term and a March 2027 notice deadline, a buyer acquires near-term rollover risk immediately at close. Current rent of $182,824 ($43.42/SF) is the only contractual income, and no rent at expiration is disclosed, eliminating visibility into any embedded escalation. The single remaining renewal option provides one bite at retention, but in a declining-population tertiary market, re-leasing at current rent to an alternative operator would be challenging. GPM Investments, LLC, backed by ARKO Corp., a publicly traded, SEC-reporting operator of approximately 3,500 sites, provides institutional-grade credit quality, which is the primary underwriting support for the current income stream. However, that credit quality expires with the lease unless renewal is exercised.
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