GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1075 E Grant Hwy, Marengo, IL
| Tenant / d/b/a | Road Ranger |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Dec 28, 2009 |
| Lease expiration | Dec 31, 2029 |
| Remaining term | 3.5 yrs |
| Lease term (months) | — |
| Annual base rent | $184,202 |
| Base rent $/SF | $50.00 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/4 |
| Notice date | Jun 05, 2029 |
| Year built | 2006 |
| Building SF | 3,684 |
| Land area (acres) | 1.38 |
| Pre G&A CFC | 1.23x (2020) |
| Lease status | SUBLEASED |
| Operating tenant | 1075 E Grant Hwy |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 19,211 |
| Households | 0 | 0 | 6,817 |
| Pop. density (/sq mi) | 0 | 0 | 245 |
| Avg HH income | — | — | $125,866 |
| Poverty rate | — | — | 6.8% |
| Bachelor's+ | — | — | 33.6% |
| Median home value | — | — | $299,196 |
| Median rent | — | — | $1,382 |
| Median age | — | — | 36 |
| Owner-occupied | — | — | 82.7% |
This net lease convenience store and gas station in Marengo, Illinois is occupied by Road Ranger/Fas Mart under a GPM Investments-guaranteed lease expiring December 31, 2029, with approximately 3.5 years of remaining term. The site earns an average location grade of 42/100, reflecting thin immediate-area demographics and modest traffic, partially offset by a corporate-grade guarantor and no direct fuel competition within a half mile.
The 1-mile and 3-mile population rings register effectively zero residents, indicating the site sits in a rural or agricultural buffer with no meaningful residential base nearby. Usable population data emerges only at the 5-mile radius, where 19,211 residents carry a strong average household income of $125,866 and a low poverty rate of 6.8%, suggesting the broader trade area has spending capacity even if immediate density is lacking.
Marengo sits in McHenry County, a Metro-1M+ market whose population grew 1.9% from 2020 to 2024, reaching nearly 316,000 residents, with unemployment at a manageable 4.0%. The county's retail and food service base totals over 1,400 combined establishments, reflecting a functioning consumer economy, though this site's rural positioning limits direct capture of that activity.
Daily traffic of 8,100 vehicles on a road just 0.01 miles from the nearest major corridor provides the site's primary demand driver, functioning as a highway convenience stop rather than a community-anchored location. Walk and bike scores of 45 and 48 confirm car dependency, and with zero EV charging stations within five miles, the site faces no near-term EV displacement risk to fuel volumes.
1. The FEMA flood zone designation of AE indicates a 1% annual chance of flooding, which elevates insurance costs and could impair operations or resale liquidity. 2. Zero population within 1 and 3 miles means the site is structurally dependent on pass-through traffic, with no residential demand base to support in-store convenience sales. 3. With only 3.5 years of lease term remaining, a buyer assumes meaningful near-term rollover risk if GPM elects not to exercise its single four-year renewal option.
The lease runs through December 2029 at $184,202 annually ($50.00/SF), with no disclosed rent at expiration, limiting visibility into post-renewal economics. The guarantor, GPM Investments LLC, is a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator with roughly 3,500 locations, providing institutional-grade credit support for the remaining term. However, buyers should underwrite the single renewal option conservatively given the thin local fundamentals and lack of rent escalation clarity.
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