GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3754 S Irby St, Florence, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2029 |
| Remaining term | 2.8 yrs |
| Lease term (months) | — |
| Annual base rent | $67,107 |
| Base rent $/SF | $44.50 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2028 |
| Year built | 1978 |
| Building SF | 1,508 |
| Land area (acres) | 0.70 |
| Pre G&A CFC | 1.35x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 23,187 | 49,505 |
| Households | 0 | 9,302 | 20,016 |
| Pop. density (/sq mi) | 0 | 820 | 630 |
| Avg HH income | — | $81,946 | $82,535 |
| Poverty rate | — | 18.2% | 17.0% |
| Bachelor's+ | — | 25.7% | 27.5% |
| Median home value | — | $179,615 | $186,212 |
| Median rent | — | $1,024 | $1,016 |
| Median age | — | 39 | 40 |
| Owner-occupied | — | 70.1% | 66.9% |
This Fas Mart-branded convenience store and gas station at 3754 S Irby St, Florence, SC is operated by GPM Investments under the Youngs banner, with 2.8 years of remaining term and a corporate guaranty from ARKO Corp. The site scores 64 out of 100 on location grade, reflecting adequate but not exceptional fundamentals. The investment appeal rests primarily on the credit quality of the guarantor rather than demographic or traffic strength.
The immediate one-mile trade area reports zero residents, indicating a light industrial or transitional land use pattern that limits organic foot traffic. The three-mile ring shows 23,187 residents with average household income of $81,946, though an 18.2% poverty rate tempers purchasing power assumptions. The five-mile population of 49,505 provides a broader consumer base, but the site's low Walk Score of 10 confirms this is a strictly drive-to location.
Florence County is a smaller metro with modest but stable population growth of 0.9% from 2020 to 2024, and an unemployment rate of 4.2% that is broadly in line with national averages. The local retail and food service base of 962 combined establishments reflects a functional but not high-growth trade environment. EV penetration within five miles is minimal at two stations, presenting a near-term non-issue but a longer-dated consideration for fuel volumes.
AADT of only 2,500 vehicles per day is materially below institutional benchmarks for gas station net lease assets, which typically target 10,000 or more. Highway proximity at 0.01 miles is a positive, but the low traffic count suggests limited passing vehicle capture. The absence of nearby restaurants within one mile and minimal retail density further constrain the convenience store's cross-traffic opportunity.
The flood zone designation is Zone X, indicating minimal environmental exposure. State-level crime data is unavailable, which limits full underwriting of site security assumptions. No material physical risk factors override the lease and traffic concerns.
With 2.8 years of term remaining, a buyer faces near-term rollover risk, as the lease expires March 31, 2029, with a notice deadline of September 3, 2028. Current rent of $67,107 annually at $44.50 per square foot provides no visibility into renewal economics, as rent at expiration is not disclosed. One renewal option remains available, but the short horizon compresses a buyer's hold window. ARKO Corp. as the NASDAQ-listed, SEC-reporting parent of GPM Investments provides meaningful credit support, ranking as the sixth-largest U.S. convenience operator, which partially offsets the thin remaining term.
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