GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1041 S Mission St, Mount Pleasant, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Sep 30, 2028 |
| Remaining term | 2.3 yrs |
| Lease term (months) | — |
| Annual base rent | $63,471 |
| Base rent $/SF | $38.05 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 04, 2028 |
| Year built | 1990 |
| Building SF | 1,668 |
| Land area (acres) | 0.32 |
| Pre G&A CFC | 0.88x (2024) |
| Lease status | Active |
Mount Pleasant is home to Central Michigan University (~15,000 students) and the Soaring Eagle Casino & Resort — Michigan's largest gaming floor, whose concert series alone draws 13,000+ per show. Student and destination demand supplement the resident base.
The location score above reflects resident-market real-estate fundamentals and does not incorporate seasonal or destination demand; consider this note alongside the store-level coverage (CFC) when assessing the asset.
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 14,083 | 32,212 | 32,212 |
| Households | 4,400 | 12,630 | 12,630 |
| Pop. density (/sq mi) | 4,483 | 1,139 | 410 |
| Avg HH income | $54,513 | $60,060 | $60,060 |
| Poverty rate | 42.0% | 34.8% | 34.8% |
| Bachelor's+ | 47.2% | 41.3% | 41.3% |
| Median home value | $159,387 | $158,176 | $158,176 |
| Median rent | $885 | $899 | $899 |
| Median age | 23 | 28 | 28 |
| Owner-occupied | 26.1% | 34.5% | 34.5% |
This Marathon/Fas Mart convenience store at 1041 S Mission St in Mount Pleasant, MI offers 2.3 years of remaining term backed by GPM Investments/ARKO Corp., the sixth-largest U.S. convenience-store operator. At a location grade of 63/100 (Strong), the site benefits from solid traffic and walkability but carries meaningful near-term rollover risk and elevated local poverty rates that temper long-term demand assumptions.
The immediate one-mile trade area holds 14,083 residents at a respectable 4,483 per square mile, but a 42.0% poverty rate and average household income of just $54,513 signal a value-oriented, price-sensitive customer base. The three-mile ring expands to 32,212 residents with a 34.8% poverty rate and median home value of $158,176, confirming a structurally constrained income profile throughout the primary draw area.
Mount Pleasant anchors Isabella County, a nonmetro market adjacent to the broader mid-Michigan corridor, with modest population growth of 0.9% from 2020 to 2024 and an unemployment rate of 5.1%. The presence of Central Michigan University drives daytime population density and explains the 0.70 day-to-night ratio, but also contributes to the elevated poverty statistics through the student demographic.
The site sits within 0.05 miles of a major road and registers 24,214 vehicles per day, providing adequate fuel-drive traffic for a convenience format. A Walk Score of 85 and 20 nearby restaurants and retail destinations within one mile confirm a commercially active corridor with genuine pedestrian utility.
Competitive saturation is a tangible concern, with four competing gas stations within 0.5 miles and nine within one mile, creating persistent margin pressure on fuel volumes. The site faces no flood exposure in FEMA Zone X, and no crime data was available for independent state-level benchmarking, limiting full risk underwriting.
With only 2.3 years remaining and a notice date of March 2028, a buyer faces near-term lease rollover before a single renewal option can be exercised. Current rent of $63,471 ($38.05/SF) provides no visibility into a reset rent at expiration, leaving renewal economics undefined. GPM Investments/ARKO Corp. is a publicly traded, SEC-reporting guarantor operating roughly 3,500 sites, offering institutional-grade credit quality that partially offsets the short duration risk. Buyers should underwrite this as a credit/rollover trade with meaningful re-leasing or disposition execution required within the hold period.
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