GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2482 Tittabawassee Rd, Saginaw, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Mar 31, 2027 |
| Remaining term | 0.8 yrs |
| Lease term (months) | — |
| Annual base rent | $95,207 |
| Base rent $/SF | $30.21 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 02, 2026 |
| Year built | 1980 |
| Building SF | 3,152 |
| Land area (acres) | 0.66 |
| Pre G&A CFC | 3.43x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 27,348 | 78,894 |
| Households | 0 | 10,902 | 32,483 |
| Pop. density (/sq mi) | 0 | 967 | 1,005 |
| Avg HH income | — | $74,439 | $76,409 |
| Poverty rate | — | 27.5% | 23.1% |
| Bachelor's+ | — | 24.3% | 24.9% |
| Median home value | — | $126,273 | $118,006 |
| Median rent | — | $820 | $935 |
| Median age | — | 35 | 38 |
| Owner-occupied | — | 62.6% | 66.8% |
This Marathon-branded convenience store operated by GPM Investments (Fas Mart) sits at 2482 Tittabawassee Road in Saginaw, Michigan, a mid-size Midwestern metro with measurable population and economic headwinds. The site scores 53 out of 100 on location grade, reflecting average fundamentals. With only 0.8 years of remaining lease term, the investment thesis hinges almost entirely on rollover and renewal resolution rather than in-place income durability.
The 3-mile trade area holds 27,348 residents at a modest density of 967 per square mile, with average household income of $74,439 and a poverty rate of 27.5%, indicating a value-oriented consumer base with limited disposable income. The 5-mile population expands to 78,894 but the income profile remains essentially flat at $76,409. Zero population recorded within one mile suggests an industrial or commercial land-use pattern immediately surrounding the site.
Saginaw County is a declining metro with population contracting 1.1% from 2020 to 2024 and unemployment running at 6.2%, above the national average. The local retail and food-service base is modestly sized at 754 and 375 establishments respectively, indicating limited economic dynamism. These macro conditions suppress rent growth prospects and reduce the pool of alternative tenants in a re-leasing scenario.
AADT of 3,514 vehicles per day is low for a gas station-convenience store format, which typically requires substantially higher traffic to generate competitive fuel and in-store volumes. Walk Score of 37 confirms car-dependency, yet 5 competing gas stations within one mile compress margin potential. Proximity to 8,791 daytime workers within one mile is a partial offset but does not fully compensate for thin traffic counts.
Flood zone designation is Zone X, presenting minimal environmental risk. Crime data was unavailable for direct benchmarking. With 19 EV charging stations within 5 miles, the site faces gradual but measurable long-term fuel demand erosion consistent with broader transportation trends.
The lease expires March 31, 2027, leaving a buyer with roughly ten months of contractual income at $95,207 annually before facing immediate rollover risk. One renewal option remains, with a notice deadline of September 2026, meaning a buyer transacting today must move quickly to engage GPM on renewal intentions. GPM Investments is a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. c-store operator, providing institutional-grade credit quality, though ARKO has faced margin pressure in a competitive fuel environment. Buyers should price renewal probability conservatively given weak site traffic and a challenged local market.
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