GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
101 Highway 172, Hubert, 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 | $140,315 |
| Base rent $/SF | $58.44 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1987 |
| Building SF | 2,401 |
| Land area (acres) | 1.26 |
| Pre G&A CFC | 4.23x (2024) |
| Lease status | Active |
Hubert sits between Jacksonville (Camp Lejeune) and the Swansboro / Crystal Coast area, drawing military-linked and coastal-recreation demand beyond its small 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 | 0 | 12,045 | 22,556 |
| Households | 0 | 5,218 | 8,779 |
| Pop. density (/sq mi) | 0 | 426 | 287 |
| Avg HH income | — | $72,422 | $78,779 |
| Poverty rate | — | 11.3% | 12.4% |
| Bachelor's+ | — | 17.9% | 20.6% |
| Median home value | — | $198,033 | $231,244 |
| Median rent | — | $1,200 | $1,242 |
| Median age | — | 31 | 30 |
| Owner-occupied | — | 70.5% | 67.9% |
101 Highway 172 in Hubert, NC is a 2,401 SF Scotchman-branded convenience store and gas station on 1.26 acres, operated under the Fas Mart banner by GPM Investments, a subsidiary of publicly traded ARKO Corp. The site carries an average location grade of 50 out of 100, reflecting modest traffic counts and meaningful near-term lease rollover risk. This offering is best characterized as a short-duration income play with credit-tenant backing rather than a premier location asset.
The immediate one-mile trade area shows no measurable residential population, limiting walk-in demand to pass-through traffic. The three-mile ring provides more substance, with 12,045 residents, average household income of $72,422, and a 70.5% owner-occupancy rate suggesting a stable, working-class suburban base. The five-mile population of 22,556 and average household income of $78,779 are adequate but not exceptional for convenience retail.
Hubert sits within Onslow County, a Metro market under 250,000 population anchored by Camp Lejeune military activity, which underpins the area's relatively low 3.5% unemployment rate. County population grew 3.8% from 2020 to 2024, reflecting steady if unspectacular demand. The presence of 570 retail and 379 food service establishments signals a functional but not high-density commercial environment.
AADT of only 4,100 vehicles per day is low for a gas station-convenience store format, constraining fuel volume and in-store sales potential. The Walk Score of 16 confirms near-total auto dependency, and just 3 restaurants and 10 retail outlets within one mile reflect a thin surrounding retail ecosystem. Daytime employment density is thin at 154 jobs within one mile, limiting lunch and commuter traffic.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard, which is a clean environmental baseline. No EV charging infrastructure exists within five miles, reducing near-term displacement risk from electrification. State-level crime data was unavailable for independent verification, which investors should address through local sheriff and crime mapping sources during due diligence.
With only 1.8 years of remaining term and a renewal notice deadline of September 2027, a buyer faces near-term rollover risk with limited runway. No rent-at-expiration data is provided, making it impossible to assess embedded rent growth, and the single remaining renewal option of two provides limited long-term security. GPM Investments, backed by ARKO Corp., a Nasdaq-listed operator of roughly 3,500 stores, provides institutional-grade credit that partially offsets the short duration, though ARKO's publicly reported financial pressures warrant monitoring.
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