GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
8300 Richlands Hwy, Richlands, NC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2028 |
| Remaining term | 1.8 yrs |
| Lease term (months) | — |
| Annual base rent | $130,554 |
| Base rent $/SF | $52.98 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1983 |
| Building SF | 2,464 |
| Land area (acres) | 1.66 |
| Pre G&A CFC | 1.36x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 8300 Richlands Hwy |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 5,642 | 14,586 |
| Households | 0 | 1,788 | 4,699 |
| Pop. density (/sq mi) | 0 | 200 | 186 |
| Avg HH income | — | $95,076 | $80,243 |
| Poverty rate | — | 11.9% | 11.8% |
| Bachelor's+ | — | 36.9% | 25.1% |
| Median home value | — | $231,300 | $210,506 |
| Median rent | — | $1,722 | $1,359 |
| Median age | — | 26 | 28 |
| Owner-occupied | — | 79.4% | 76.0% |
This Scotchman-branded convenience store and gas station at 8300 Richlands Hwy, Richlands, NC is a single-tenant net lease asset with 1.8 years of remaining term, generating $130,554 in annual base rent. The property sits on a 1.66-acre site along a primary highway corridor in Onslow County with no direct fuel competition within a half-mile. At a location grade of 51 out of 100, the asset is average quality and priced accordingly for buyers comfortable with near-term lease rollover exposure.
The immediate one-mile trade area shows negligible residential population, reflecting a highway-dependent capture model rather than a dense neighborhood draw. Expanding to three miles, the market supports 5,642 residents with a solid average household income of $95,076, low poverty at 11.9 percent, and high homeownership at 79.4 percent. The five-mile population of 14,586 at $80,243 average household income is modest for a net lease gas station, limiting alternative tenant demand in a re-leasing scenario.
Onslow County is a mid-size metro with 212,954 residents as of 2024, reflecting 3.8 percent population growth since 2020, supported in part by the presence of Camp Lejeune. The county unemployment rate of 3.5 percent and 37,904 total employees signal a stable but not expanding economic base. Retail and food-service establishment counts are proportionate to market size with no indicators of outsized growth or contraction.
The site sits 0.01 miles from a major road with 17,500 vehicles per day of daily traffic, providing adequate highway exposure for a fuel and convenience format. Walk Score of 41 confirms full car dependency, consistent with the zero residential population within one mile. Eighteen nearby restaurants and nine retail tenants within one mile suggest a functional commercial corridor without critical mass.
The property is located in FEMA Flood Zone X, indicating minimal flood hazard. No EV charging infrastructure exists within five miles, which is consistent with current rural market conditions but represents a longer-term demand watch item. Crime data at the state level was not provided, limiting a complete risk assessment.
With only 1.8 years of term remaining and a renewal notice deadline of September 2027, a buyer acquires near-term rollover risk as the primary underwriting event. Rent at expiration is not disclosed, making it impossible to assess contractual rent growth, and the single remaining renewal option of two total offers limited long-term income visibility. The lease guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator with roughly 3,500 locations, provides meaningful credit quality for the short remaining term, but that credit profile does not eliminate the re-leasing or exit risk a buyer will face imminently.
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