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 | 1.3 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% |
This FasMart convenience store and gas station at 340 E Valley Dr in Bristol, VA is a short-term net lease asset with 1.3 years of remaining term, backed by GPM Investments (ARKO Corp., Nasdaq: ARKO), the sixth-largest U.S. convenience-store operator. The site scores 52 out of 100 on location grade, reflecting modest traffic, meaningful local competition, and a declining county population base. Buyers are effectively acquiring a near-term rollover play with a publicly traded guarantor, not a long-duration income stream.
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 relatively healthy at that radius. The broader 3-mile ring shows a more typical mid-market profile: 35,818 residents, $70,986 average household income, and a 15.1% poverty rate that signals meaningful income constraint. Population density drops sharply at 5 miles to 561 per square mile, confirming a low-density suburban and semi-rural catchment.
Bristol city proper has shed 5.7% of its population between 2020 and 2024, falling from 17,303 to 16,316, which reflects a structurally challenged small metro without meaningful demand tailwinds. The local economy is modest, with 531 total establishments and 7,379 employees countywide, and daytime employment within 1 mile of the site is only 714 workers. With five competing gas stations within a mile, the site operates in a saturated local fuel market with limited pricing power.
Traffic exposure is limited at 4,900 vehicles per day, well below thresholds typically associated with high-performing fuel and convenience sites. A Walk Score of 18 and Bike Score of 15 confirm near-total auto dependency, and proximity to the nearest major road is 0.36 miles, reducing impulse capture from primary traffic corridors.
The FEMA flood designation is Zone X, indicating minimal flood exposure. State-level crime data was unavailable for independent verification, which limits underwriting precision on security risk. No additional environmental or structural risk data was provided beyond the 2001 construction year.
With only 1.3 years of term remaining and a March 2027 notice deadline for the single remaining renewal option, a buyer faces immediate rollover execution risk. Current rent is $58,821 annually at $22.83 per square foot, and no rent at expiration data was provided, making reversion value difficult to underwrite. ARKO Corp. provides a publicly traded, SEC-reporting guaranty that adds credit transparency, but the company has faced margin pressure across its portfolio, and lease renewal is not assured given site-level performance metrics. This asset suits a buyer comfortable with near-term re-leasing or redevelopment optionality rather than one seeking stable long-term income.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)