GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
101 Railroad Ave, Wise, VA
| Tenant / d/b/a | FasMart |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Nov 29, 2007 |
| Lease expiration | Nov 30, 2027 |
| Remaining term | 1.3 yrs |
| Lease term (months) | — |
| Annual base rent | $22,501 |
| Base rent $/SF | $9.22 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1985 |
| Building SF | 2,440 |
| Land area (acres) | 0.19 |
| Pre G&A CFC | -1.94x (2023) |
| Lease status | SUBLEASED |
| Operating tenant | 101 Railroad Ave SE |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 9,274 | 18,744 |
| Households | 0 | 3,771 | 7,672 |
| Pop. density (/sq mi) | 0 | 328 | 239 |
| Avg HH income | — | $69,405 | $62,981 |
| Poverty rate | — | 16.2% | 17.1% |
| Bachelor's+ | — | 22.5% | 18.2% |
| Median home value | — | $125,220 | $114,281 |
| Median rent | — | $852 | $767 |
| Median age | — | 38 | 39 |
| Owner-occupied | — | 78.0% | 71.7% |
FasMart Store #2525 at 101 Railroad Ave, Wise, VA is a 2,440 SF convenience store on a 0.19-acre site leased through November 2027, scoring 51 out of 100 on location grade. With 1.3 years of remaining term, this is effectively a near-term rollover play in a declining nonmetro Appalachian market, demanding careful underwriting of re-tenanting risk and residual land value.
The immediate one-mile trade area reports no usable population data, while the three-mile ring shows 9,274 residents at a low density of 328 per square mile and average household income of $69,405. Poverty runs at 16.2% within three miles and 17.1% within five miles, consistent with regional economic stress. These metrics support convenience retail demand but constrain rent growth and limit alternative tenant credit quality.
Wise County is a nonmetro, landlocked Virginia market that shed 3.0% of its population between 2020 and 2024, declining from 36,066 to 34,973 residents. The local economy generates only 7,678 employees across 598 establishments, limiting organic demand drivers. With 17,000 vehicles per day passing the site and 3,187 daytime workers within one mile, traffic fundamentals are adequate but not exceptional for a fuel and convenience concept.
The site carries a Walk Score of 58 and a Bike Score of 33, reflecting modest pedestrian utility in a small-town setting. Sixteen nearby restaurants and sixteen retail destinations within one mile indicate a functional, if modest, commercial corridor. Highway proximity at 0.22 miles provides reasonable visibility, though the site is not an interstate interchange location.
The property sits in FEMA Flood Zone AE, meaning it faces a one-percent annual chance of flooding, which carries meaningful insurance cost and lender underwriting implications. Competitive density is high, with three competing gas stations within a half mile and nine within one mile. County population has declined 3.0% in four years with no adjacent metro to provide economic stabilization.
With only 1.3 years remaining and a single two-year renewal option, the lease rollover arrives quickly, and the notice date of March 2027 creates an immediate execution requirement for any buyer. Annual base rent of $22,501, or $9.22 per square foot, is below market for many c-store formats, offering limited upside unless renewal terms are renegotiated. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit, but that credit advantage is substantially offset by the near-term lease expiration and the tenant's ability to exit this underperforming location.
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