GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
8 Broad Street, Hemingway, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2028 |
| Remaining term | 1.5 yrs |
| Lease term (months) | — |
| Annual base rent | $85,409 |
| Base rent $/SF | $40.56 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1980 |
| Building SF | 2,106 |
| Land area (acres) | 1.73 |
| Pre G&A CFC | 0.08x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | — |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 4,120 | 7,747 |
| Households | 0 | 1,779 | 2,880 |
| Pop. density (/sq mi) | 0 | 146 | 99 |
| Avg HH income | — | $53,263 | $61,605 |
| Poverty rate | — | 26.5% | 30.0% |
| Bachelor's+ | — | 8.9% | 13.7% |
| Median home value | — | $121,500 | $138,074 |
| Median rent | — | $1,031 | $890 |
| Median age | — | 54 | 40 |
| Owner-occupied | — | 69.6% | 66.3% |
This Fas Mart-branded convenience store and gas station at 8 Broad Street, Hemingway, SC carries a location grade of 21 out of 100, reflecting materially substandard fundamentals. With 1.5 years of remaining lease term, minimal traffic, severe competition density, and a declining rural county, the asset presents a short-duration income play with meaningful rollover risk.
The immediate one-mile trade area reports zero residential population, placing the site in a functionally isolated position. The three-mile ring captures 4,120 residents at a density of just 146 per square mile, with average household income of $53,263 and a poverty rate of 26.5 percent — demand characteristics that constrain fuel volumes and in-store sales productivity.
Williamsburg County is classified as nonmetro urban and has shed roughly 3.4 percent of its population from 2020 to 2024, falling to 29,865. Unemployment sits at 6.1 percent against a thin economic base of 473 total establishments and 6,547 employees, offering little structural support for retail tenancy demand or rental rate appreciation at lease rollover.
Daily traffic at the site is a critically low 850 vehicles, an outlier even for rural convenience store standards. Nine competing gas stations exist within one mile, creating a saturated competitive environment that pressures both fuel margin and c-store traffic capture at this location.
The property carries a FEMA Zone X designation, indicating minimal flood hazard and no material environmental exposure on that front. However, the asset's physical plant dates to 1980, introducing deferred capital and environmental liability considerations that a buyer must underwrite carefully alongside site-level obsolescence risk.
The lease expires March 31, 2028, leaving approximately 1.5 years of contracted income at $85,409 annually. No rent escalation at expiration is disclosed, and with only one of two renewal options presumably exercised, the buyer faces near-term rollover risk in a substandard location where re-tenanting at equivalent rent would be challenging. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator, provides a creditworthy guarantor; however, ARKO has been actively rationalizing underperforming sites, making renewal of a poor-graded location uncertain.
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