GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
508 Johnnie Dodds Blvd, Mount Pleasant, SC
| Tenant / d/b/a | Scotchman |
| 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 | $231,825 |
| Base rent $/SF | $89.40 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1984 |
| Building SF | 2,593 |
| Land area (acres) | 0.79 |
| Pre G&A CFC | 5.25x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 11,156 | 32,323 | 103,783 |
| Households | 5,239 | 14,103 | 45,127 |
| Pop. density (/sq mi) | 3,551 | 1,143 | 1,321 |
| Avg HH income | $169,106 | $163,533 | $150,634 |
| Poverty rate | 7.0% | 10.7% | 12.3% |
| Bachelor's+ | 64.9% | 67.2% | 65.3% |
| Median home value | $869,765 | $782,182 | $759,031 |
| Median rent | $1,856 | $2,193 | $1,967 |
| Median age | 44 | 42 | 39 |
| Owner-occupied | 58.5% | 63.6% | 57.8% |
508 Johnnie Dodds Blvd is a 2,593 SF Scotchman convenience store and gas station operating under a GPM Investments lease in Mount Pleasant, SC, one of the fastest-growing and wealthiest suburban markets in the Southeast. The site earns a location grade of 71 out of 100, supported by dense daytime employment, high household incomes, and direct proximity to a major arterial road. With 1.5 years of term remaining and one renewal option outstanding, this offering is priced as a near-term rollover play requiring a clear-eyed view of re-tenanting or renewal execution risk.
The immediate trade area is affluent and growing, with a 1-mile average household income of $169,106 and a 3-mile median home value of $782,182, metrics that place this submarket well above national convenience store averages. The 5-mile population of 103,783 supports strong fuel and in-store demand, and the 3-mile bachelor's degree attainment rate of 67.2 percent signals a stable, high-income consumer base. Poverty rates are low across all radii, ranging from 7.0 percent at 1 mile to 12.3 percent at 5 miles.
Charleston County has grown 5.1 percent from 2020 to 2024, reaching 431,001 residents, with an unemployment rate of 3.2 percent and a broad commercial base of 15,484 establishments. Mount Pleasant specifically has absorbed substantial residential and retail development, sustaining elevated retail rents and low vacancy. The 47,099 daytime workers within 3 miles anchor consistent weekday fuel and convenience demand throughout the corridor.
The site sits 0.04 miles from the nearest major road with 13,100 vehicles per day passing daily, providing adequate but not exceptional traffic exposure for a fuel location. Walk Score of 67 and 20 nearby restaurants and retail tenants within 1 mile reflect a functioning commercial node rather than a high-frequency destination corridor. The absence of dollar or discount stores within a half mile is a modest positive for in-store basket composition.
1. Five competing gas stations within 1 mile create meaningful fuel price competition that pressures margin and customer retention at this location. 2. Forty-four EV charging stations within 5 miles represent a structural demand headwind as vehicle electrification accelerates across this affluent, educated consumer market. 3. The building was constructed in 1984, introducing material capital expenditure uncertainty as the asset approaches or exceeds 40 years of age without disclosed renovation history.
With only 1.5 years of remaining term, the buyer is acquiring near-term rollover risk, not stabilized cash flow. The single renewal option at an undisclosed rent creates uncertainty around income continuity beyond March 2028, and the September 2027 notice date leaves a narrow window to negotiate terms. GPM Investments, guaranteed by Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides credible corporate credit, but ARKO has faced margin compression publicly, which tempers the strength of that guarantee. Buyers should underwrite a renewal probability scenario alongside a re-tenanting assumption given the short horizon.
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