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 | 1.3 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% |
This FasMart convenience store and gas station at 61 US 23 South, Weber City, Virginia is a single-tenant net lease asset with 1.3 years of remaining term, backed by GPM Investments, LLC, a subsidiary of Nasdaq-listed ARKO Corp. The location scores 48 out of 100, reflecting a secondary rural market with structural demand constraints. Near-term lease rollover dominates the investment thesis.
The immediate one-mile ring registers zero population, with meaningful density only emerging at the three-mile radius (23,118 residents at 818 per square mile). Average household income of $66,479 at three miles is modest, and a poverty rate of 20.9 percent signals limited consumer purchasing power. The five-mile trade area expands to 45,768 residents but does not materially improve the income or poverty profile.
Scott County is a rural, Metro-classified market of approximately 21,388 residents that has contracted by 0.9 percent since 2020, indicating ongoing population erosion. The county's total employment base is thin at 3,768 workers across 247 establishments, and daytime employment within one mile of the site is only 354 jobs. These fundamentals suggest limited organic demand growth for the foreseeable holding period.
The site sits 0.01 miles from US 23, providing direct arterial exposure, but recorded traffic of only 250 vehicles per day is exceptionally low for a fuel and convenience operation. A Walk Score of 22 confirms near-total auto dependency, while seven competing gas stations within one mile represent a dense competitive set relative to the available demand base.
Flood exposure is minimal under FEMA Zone X designation. No environmental or crime data anomalies are flagged in the provided inputs. The primary risk concentration is lease and demand risk, not physical site risk.
With 1.3 years of remaining term and a March 2027 notice deadline, a buyer acquires near-certain rollover exposure almost immediately at closing. Current rent of $128,025 annually ($18.97 per square foot) has no disclosed escalation to expiration, and only one of two renewal options remains, offering limited contractual income extension. GPM Investments, backed by ARKO Corp. with roughly 3,500 locations and SEC-reporting transparency, provides institutional-grade credit, but ARKO has faced margin pressure in a competitive fuel retail environment. This is a credit-and-rollover play, not a long-duration income story, and pricing must reflect the near-term re-leasing or disposition decision a buyer will face within 18 months.
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