Company: GTY
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019976
Chunk: 46

Company: GETTY REALTY CORP /MD/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 2
Chunk 46
---
 0.2

    West Virginia

    2

    —

    2

    0.2

    South Dakota

    1

    —

    1

    0.1

    Wisconsin

    1

    —

    1

    0.1

    Total

    1,085

    33

    1,118

    100.0
    %

25

The properties that we lease from third parties have a remaining lease term, including renewal and extension option terms, averaging approximately 7.9 years. The following table sets forth information regarding lease expirations, including renewal and extension option terms, for properties that we lease from third parties:

    Number ofLeasesExpiring

    Percent ofTotal LeasedProperties

    Percentof TotalProperties

    2025

    2

    6.1
    %

    0.2
    %

    2026

    4

    12.1

    0.4

    2027

    4

    12.1

    0.4

    2028

    1

    3.0

    0.0

    2029

    2

    6.1

    0.2

    Subtotal

    13

    39.4

    1.2

    Thereafter

    20

    60.6

    1.8

    Total

    33

    100.0
    %

    3.0
    %

For the year ended December 31, 2024, revenues from rental properties, which includes base rental income, additional rental income, if any, and certain GAAP revenue recognition adjustments, were $198.7 million, an average of approximately $178 thousand per property given the 1,115 average rental properties held during the year. For the year ended December 31, 2023, revenues from rental properties were $180.5 million, an average of $169 thousand per property given the 1,068 average rental properties held during the year. Rental property lease expirations and annualized base rent (“ABR”) as of December 31, 2024 are as follows (dollars in thousands):

    Number ofProperties (a)

    ABR (b)

    Percentageof Total ABR