GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
209 State Route 708, Russells Point, OH
| Tenant / d/b/a | Village Variety |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Feb 29, 2008 |
| Lease expiration | Feb 29, 2028 |
| Remaining term | 1.7 yrs |
| Lease term (months) | — |
| Annual base rent | $216,296 |
| Base rent $/SF | $73.07 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Aug 02, 2027 |
| Year built | 2001 |
| Building SF | 2,960 |
| Land area (acres) | 0.89 |
| Pre G&A CFC | 3.69x (2024) |
| Lease status | Active |
Russells Point sits on Indian Lake, a regional boating/fishing resort destination in west-central Ohio, drawing seasonal recreation tourism beyond the 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 | 1,821 | 4,436 | 7,420 |
| Households | 968 | 2,315 | 3,669 |
| Pop. density (/sq mi) | 580 | 157 | 94 |
| Avg HH income | $61,512 | $65,240 | $89,145 |
| Poverty rate | 25.9% | 17.7% | 16.9% |
| Bachelor's+ | 21.8% | 18.1% | 19.8% |
| Median home value | $123,600 | $114,993 | $162,893 |
| Median rent | $785 | $804 | $907 |
| Median age | 47 | 48 | 51 |
| Owner-occupied | 63.0% | 77.3% | 82.4% |
209 State Route 708 in Russells Point, Ohio is a 2,960 SF Fas Mart-branded convenience store and gas station operated by GPM Investments under a lease expiring February 2028, leaving approximately 1.7 years of remaining term. The site scores 51 out of 100 on location grade, reflecting a small, car-dependent rural trade area with limited population density and elevated poverty rates. The deal is best characterized as a short-duration income play backed by a publicly traded, investment-grade-adjacent guarantor rather than a long-term core hold.
The immediate one-mile population of 1,821 at 580 persons per square mile is thin, and a 25.9 percent poverty rate at the one-mile ring signals constrained consumer spending power. The three-mile average household income of $65,240 and median home value of $114,993 are below national norms, though a 77.3 percent owner-occupancy rate suggests residential stability. Population at the county level is effectively flat, declining 0.1 percent from 2020 to 2024, offering no meaningful organic growth catalyst.
Logan County is classified as nonmetro but metro-adjacent, with 867 total establishments and 17,033 employees, indicative of a modest local economy. The site sits 0.01 miles from a major road with zero competing gas stations within one mile, providing meaningful local fuel monopoly within its immediate catchment. Daytime employment density is low at 345 jobs within one mile, limiting commuter-driven traffic upside.
The site carries a Walk Score of 37, confirming full car dependency, and nearby retail density is sparse at four establishments within one mile. Twelve nearby restaurants within one mile provide modest traffic adjacency. The absence of EV charging infrastructure within five miles is a short-term insulator but a long-term structural consideration.
FEMA designates the site as Zone X, reflecting minimal flood hazard and no environmental exposure on that dimension. No state-level crime data was provided, limiting independent safety assessment. The site carries no identified physical or environmental risk flags beyond its rural market fundamentals.
With only 1.7 years of term remaining, a buyer absorbs near-term rollover risk immediately upon closing, and the August 2027 notice deadline for the single remaining renewal option creates an urgent leasing decision timeline. At $73.07 per square foot in annual base rent with no rent at expiration disclosed, future economics depend entirely on renewal negotiation or re-tenanting. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides meaningful credit depth that partially offsets the short lease duration.
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