The wheel icon is not a fast travel icon. Its a landmark icon. The fast travel icon almost looks like fast forward button. It will be on the map, and when you get there, there will be a map on a wall that you can interact with.
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Fast travel locations only become available after you've visited certain locations or completed certain tasks. For example, finish the mission at the marina, and you'll be able to fast travel between there and Paradise, and so on.