Youngs — Sumter, SC

Lease Abstract

Tenant / d/b/a	Youngs
Guarantor	Fas Mart (GPM Investments)
Lease commencement	Mar 27, 2008
Lease expiration	Mar 31, 2030
Remaining term	3.8 yrs
Lease term (months)	—
Annual base rent	$62,837
Base rent $/SF	$25.05
Rent at expiration	—
Expiration rent $/SF	—
Renewal options	1/2
Notice date	Sep 03, 2029
Year built	1972
Building SF	2,508
Land area (acres)	0.70
Pre G&A CFC	0.43x (2024)
Lease status	Active

Location Score Breakdown 49/100

AADT Traffic 2/15

Highway Proximity 10/10

Gas Competition 1mi 2/15

3mi Population 7/12

3mi HH Income 7/12

Pop Density 3mi 4/8

County Growth 2/7

County Unemp. 4/7

Dollar Stores 6/6

Daytime Jobs 3mi 6/10

EV Density Pen. 0/0

Thin Market Pen. 0/0

Demand Anchor & Uniqueness

Sumter is home to Shaw Air Force Base (Air Force's largest combat F-16 wing; ~8,200 active-duty plus families), a major military demand 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.

Trade-Area Demographics

Metric	1 mi	3 mi	5 mi
Population	3,245	14,739	34,222
Households	1,366	5,960	13,772
Pop. density (/sq mi)	1,033	521	436
Avg HH income	$44,814	$52,257	$59,601
Poverty rate	34.3%	25.2%	22.2%
Bachelor's+	4.8%	13.9%	21.2%
Median home value	$78,800	$96,005	$119,700
Median rent	$812	$829	$969
Median age	31	38	39
Owner-occupied	68.6%	56.3%	56.5%

Site & Market Detail

Traffic (AADT at site)4,100

Daytime jobs (3 mi)10,688

Daytime jobs (1 mi)992

Gas competitors (0.5 mi)1

Gas competitors (1 mi)4

Dollar stores (0.5 mi)0

Highway distance (mi)0.00

EV stations (5 mi)4

CountySumter County

County pop. growth-0.7%

County unemployment5.2%

Walk score8

Bike score27

FEMA flood zoneX

Investment Highlights

The lease guaranty from GPM Investments, a subsidiary of ARKO Corp., provides credit from the sixth-largest U.S. convenience store operator with roughly 3,500 locations across 34 states.
The site sits zero miles from the nearest major road, offering direct arterial visibility and access.
FEMA Zone X designation eliminates flood risk as an environmental or insurance concern for the asset.

Key Risks

AADT of only 4,100 vehicles per day is materially below the threshold typically required to support a competitive convenience store, limiting organic sales performance.
The one-mile poverty rate of 34.3% and average household income of $44,814 create a structurally weak consumer base that pressures both tenant sales and re-leasing optionality.
With 3.8 years of remaining term and a declining county population, the buyer absorbs meaningful rollover risk in a market offering limited depth of replacement tenants.

Executive Summary

940 E Liberty St in Sumter, SC is a 2,508 SF Fas Mart convenience store operated by GPM Investments on a lease expiring March 2031 with 3.8 years of remaining term. The site scores 49 out of 100 on location grade, reflecting below-average traffic, weak demographics, and a secondary market with modest growth prospects. This is a short-duration income play backed by a nationally scaled guarantor in a challenged retail corridor.

Demographics

The immediate trade area is economically stressed, with a 34.3% poverty rate within one mile and average household income of just $44,814. The three-mile population of 14,739 carries a median home value of $96,005 and a bachelor's degree attainment rate of 13.9%, both well below national norms. These fundamentals constrain merchandise sales growth and limit the site's appeal to alternative retail tenants at lease rollover.

Market Context

Sumter County is a small metro market with a population of approximately 104,800 that declined 0.7% from 2020 to 2024, signaling stagnation rather than growth. Unemployment sits at 5.2%, modestly above national averages, and the local retail base of 374 establishments reflects a thin commercial ecosystem. Broader economic tailwinds for the site are limited.

Location Quality

Site-level traffic is weak at 4,100 AADT, and a Walk Score of 8 confirms near-total auto dependency with minimal pedestrian or transit demand. Four competing gas stations exist within one mile, creating meaningful price and convenience competition in a low-density corridor. Daytime employment density within one mile is only 992 jobs, limiting the commuter capture opportunity central to convenience store performance.

Risk Factors

1. Flood exposure is minimal as the site sits in FEMA Zone X, presenting no material environmental liability. 2. With only 3.8 years of lease term remaining and a single renewal option, a buyer faces near-term rollover risk in a market with few compelling alternative tenants. 3. ARKO Corp. carries publicly disclosed financial pressures typical of a leveraged roll-up operator, and investors should underwrite renewal probability conservatively given the site's below-average location grade.

Investment Positioning

At $62,837 in annual base rent with no stated rent at expiration or escalations disclosed, this asset offers flat, nominal income with no embedded growth. The GPM Investments guaranty backed by Nasdaq-listed ARKO Corp. provides institutional-grade credit support today, but ARKO's financial leverage warrants scrutiny. The September 2029 notice date compresses the effective hold period, and with one renewal option remaining, a buyer is essentially acquiring a 3.8-year bond with meaningful re-tenanting tail risk in a secondary market.

Full institutional offering memorandum with all 48 briefs, maps, and tax analysis.

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