GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
431 N Main St, Bishopville, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2031 |
| Remaining term | 4.8 yrs |
| Lease term (months) | — |
| Annual base rent | $66,497 |
| Base rent $/SF | $24.39 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 1992 |
| Building SF | 2,726 |
| Land area (acres) | 1.23 |
| Pre G&A CFC | 2.50x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 2,096 | 3,510 |
| Households | 0 | 697 | 1,271 |
| Pop. density (/sq mi) | 0 | 74 | 45 |
| Avg HH income | — | $63,005 | $65,312 |
| Poverty rate | — | 17.8% | 13.7% |
| Bachelor's+ | — | 19.6% | 17.0% |
| Median home value | — | $136,800 | $127,794 |
| Median rent | — | $810 | $777 |
| Median age | — | 47 | 43 |
| Owner-occupied | — | 68.9% | 76.2% |
This net lease convenience store in Bishopville, South Carolina is a rural, single-tenant asset secured by a GPM Investments / ARKO Corp. guarantee with approximately 4.8 years of remaining term. The property scores a weak 33 out of 100 on location quality, reflecting thin population density, elevated poverty, and a declining county economic base. The investment thesis rests almost entirely on near-term lease income and guarantor credit rather than underlying real estate fundamentals.
The immediate trade area is severely underpopulated, with only 2,096 residents within three miles at a density of 74 per square mile, and average household income of $63,005 against a 17.8 percent poverty rate. The five-mile population of 3,510 at 45 persons per square mile confirms this is a deeply rural, low-demand catchment. These metrics are well below thresholds typically required to support a competitive convenience retail operation.
Lee County is a nonmetro, rural market that lost 3.6 percent of its population between 2020 and 2024, with a current unemployment rate of 5.8 percent and only 210 total business establishments employing 2,094 workers. The county's thin commercial base offers limited economic tailwinds for retail sales growth. Declining population and weak labor markets reduce confidence in tenant renewal at expiration.
The site sits 0.03 miles from a major road, which is a functional positive, but faces seven competing gas stations within one mile, creating material competitive pressure in a market too small to support that supply. A Walk Score of 46 confirms car dependency, consistent with rural convenience positioning. Daytime employment of 1,390 within one mile provides a modest captive customer base but is insufficient to offset competitive density.
Flood exposure is minimal under FEMA Zone X designation. No significant environmental or natural hazard concerns are flagged. Crime data was not available for site-level assessment, which limits downside underwriting precision.
With 4.8 years of term remaining and a single renewal option, a buyer faces a near-term rollover decision in a weak location where re-tenanting would be extremely difficult. At $66,497 annually, the current rent of $24.39 per square foot provides stable near-term cash flow backed by GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations. That guarantor credit is the asset's primary underwriting anchor, but the weak real estate fundamentals mean exit optionality is limited and pricing must reflect significant residual risk.
Full institutional offering memorandum with all 48 briefs, maps, and tax analysis.
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