GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
412 Powell Valley Rd, Big Stone Gap, 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 | $182,824 |
| Base rent $/SF | $43.18 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 01, 2027 |
| Year built | 1992 |
| Building SF | 4,234 |
| Land area (acres) | 1.49 |
| Pre G&A CFC | 2.44x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 9,747 | 9,747 |
| Households | 0 | 3,517 | 3,517 |
| Pop. density (/sq mi) | 0 | 345 | 124 |
| Avg HH income | — | $64,162 | $64,162 |
| Poverty rate | — | 16.0% | 16.0% |
| Bachelor's+ | — | 14.9% | 14.9% |
| Median home value | — | $166,149 | $166,149 |
| Median rent | — | $773 | $773 |
| Median age | — | 43 | 43 |
| Owner-occupied | — | 67.6% | 67.6% |
412 Powell Valley Rd is a 4,234 SF FasMart convenience store and gas station in Big Stone Gap, Virginia, net leased to GPM Investments (ARKO Corp.) through November 2027. With only 1.3 years of remaining term, the asset presents a near-term rollover event in a demographically constrained Appalachian market. The location scored 48 out of 100 — Average — reflecting limited trade area depth and weak site-level traffic.
The immediate one-mile ring shows no reportable population or density, with the relevant consumer base concentrated in the three-mile ring at 9,747 residents and average household income of $64,162. Poverty rate of 16.0% and a bachelor's degree attainment of just 14.9% signal a working-class, price-sensitive trade area. Population across both the three- and five-mile rings is identical, indicating no meaningful residential expansion beyond the core community.
Wise County is a nonmetro, non-adjacent county that lost 3.0% of its population between 2020 and 2024, declining from 36,066 to 34,973. The local economy supports 598 establishments and 7,678 employees — a thin base consistent with rural Appalachian contraction. Negative demographic trends limit organic demand growth and compress the pool of alternative tenants or buyers in a lease rollover scenario.
The site records an AADT of just 40 vehicles per day, an exceptionally low figure for a gas station and a direct constraint on fuel and in-store revenue. Walk Score of 25 confirms full car dependency, while zero nearby restaurants within one mile limits cross-traffic potential. Proximity of 0.11 miles to a major road provides minor mitigation but does not offset the fundamental traffic deficiency.
Environmental and physical risk is low, as the site sits in FEMA Flood Zone X, indicating minimal flood hazard. No state-level crime data was available for independent assessment. The single competing gas station within one mile represents moderate competitive pressure in an already low-volume corridor.
The lease expires November 30, 2027, leaving a buyer with approximately 1.3 years of contractual income at $182,824 annually before facing a binary rollover decision. Rent at expiration is not disclosed, removing visibility into any contractual step-up. One renewal option of two remains, with a notice deadline of March 1, 2027, meaning a buyer must act on renewal strategy almost immediately upon closing. GPM Investments, guaranteed by ARKO Corp. (Nasdaq: ARKO), the sixth-largest U.S. convenience-store operator, provides institutional-grade credit quality, which partially offsets the short runway. However, ARKO's publicly reported financial pressures in recent periods warrant scrutiny of renewal probability.
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