GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
61 US 23 South, Weber City, 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 | $128,025 |
| Base rent $/SF | $18.97 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 2000 |
| Building SF | 6,748 |
| Land area (acres) | 0.90 |
| Pre G&A CFC | 0.24x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 61 US Hwy 23 S |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 23,118 | 45,768 |
| Households | 0 | 9,562 | 19,886 |
| Pop. density (/sq mi) | 0 | 818 | 583 |
| Avg HH income | — | $66,479 | $71,749 |
| Poverty rate | — | 20.9% | 20.6% |
| Bachelor's+ | — | 14.3% | 20.6% |
| Median home value | — | $134,774 | $158,278 |
| Median rent | — | $803 | $767 |
| Median age | — | 40 | 42 |
| Owner-occupied | — | 69.6% | 63.9% |
FasMart Store 2543 at 61 US 23 South, Weber City, Virginia is a 6,748-square-foot convenience store and gas station built in 2000, occupied by GPM Investments under a lease expiring November 2027 with approximately 1.4 years of term remaining. The site scores 48 out of 100 on location quality, reflecting a demographically thin immediate trade area and acute competitive pressure. This is a short-term income play with near-term rollover risk in a secondary Appalachian market.
The immediate one-mile ring shows zero recorded population, indicating the site sits outside any meaningful residential node. The three-mile trade area reaches 23,118 residents at a modest density of 818 per square mile, with average household income of $66,479, a poverty rate of 20.9 percent, and median home values of $134,774. These are below-average consumer fundamentals that limit per-store revenue upside and compress long-term occupancy demand.
Scott County is a declining rural Virginia market with a population that contracted from 21,586 to 21,388 between 2020 and 2024. The county supports only 247 total business establishments employing 3,768 workers, and the broader economic base is thin. Limited employment density within one mile (354 daytime jobs) and no population center adjacent to the site underscore the absence of organic demand drivers.
Traffic counts of just 250 vehicles per day are critically low for a fuel and convenience format, which typically requires 10,000 or more daily vehicles to sustain viable throughput. Seven competing gas stations exist within one mile, creating severe market fragmentation relative to the site's demand base. Walk Score of 22 and a Bike Score of 6 confirm that this location is entirely auto-dependent with no pedestrian or alternative-transit capture.
The site carries no FEMA flood risk, residing in Zone X. State-level crime data was unavailable, limiting a complete public safety assessment. No EV charging infrastructure exists within five miles, which reduces near-term transition risk but also signals limited area investment in infrastructure modernization.
With only 1.4 years of remaining term and a notice deadline of March 2027, a buyer faces immediate rollover execution risk. Rent at expiration is not disclosed, creating uncertainty about whether GPM will renew, renegotiate at market, or vacate. The guarantor, GPM Investments as a subsidiary of ARKO Corp., provides a publicly traded, SEC-reporting credit backstop across roughly 3,500 locations, which is a meaningful institutional credit anchor. However, that credit quality does not offset the operational fundamentals of a low-traffic site in a contracting market.
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