GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3520 Isabella St, Midland, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Jun 30, 2029 |
| Remaining term | 2.9 yrs |
| Lease term (months) | — |
| Annual base rent | $158,678 |
| Base rent $/SF | $32.08 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Dec 02, 2028 |
| Year built | 1985 |
| Building SF | 4,947 |
| Land area (acres) | 1.46 |
| Pre G&A CFC | 2.26x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 18,883 | 46,813 |
| Households | 0 | 7,658 | 19,506 |
| Pop. density (/sq mi) | 0 | 668 | 596 |
| Avg HH income | — | $119,778 | $103,643 |
| Poverty rate | — | 10.4% | 10.3% |
| Bachelor's+ | — | 40.4% | 44.3% |
| Median home value | — | $210,522 | $191,072 |
| Median rent | — | $910 | $1,067 |
| Median age | — | 37 | 38 |
| Owner-occupied | — | 74.1% | 70.4% |
This Marathon-branded convenience store and fuel site at 3520 Isabella St in Midland, MI is a mid-term net lease investment operated by GPM Investments under the Fas Mart banner, with 2.9 years of remaining term and one renewal option. The property earned a location grade of 74/100 (Excellent), supported by strong 3-mile household income of $119,778 and minimal direct fuel competition. Buyers are acquiring a stabilized cash flow at $158,678 annually with near-term rollover risk to manage.
The immediate 1-mile trade area reports no resident population, indicating a commercial or transitional node rather than a dense residential catchment. The 3-mile ring, however, supports the site with 18,883 residents, $119,778 average household income, 74.1% owner occupancy, and a low 10.4% poverty rate — collectively a stable, middle-to-upper-middle-class consumer base. The 5-mile population of 46,813 provides meaningful fuel demand depth for a market of this size.
Midland County is a small but economically stable metro with 84,022 residents, 0.6% population growth since 2020, and 4.7% unemployment — modest but not distressed. The county supports 1,816 establishments and 34,863 employees, providing a functional daytime demand layer, including 10,687 jobs within 3 miles of the site. This is not a high-growth market, but economic stability and income levels are supportive of consistent convenience retail performance.
The site sits 0.02 miles from a major road corridor with 15,817 AADT, ensuring reliable vehicle exposure. With only one competing fuel station within a full mile, the competitive environment is unusually favorable for a convenience fuel operator. However, a Walk Score of 17 and just one nearby restaurant confirm this is an auto-dependent location with limited organic foot traffic outside fuel and convenience trips.
FEMA designates the site Zone X, indicating minimal flood exposure and no special hazard insurance burden. State-level crime data was unavailable for direct benchmarking. No dollar or discount store competition exists within 0.5 miles, reducing convenience substitution risk at the immediate site level.
With 2.9 years of remaining term, a buyer faces near-term rollover risk. The lease expires June 30, 2029, with a renewal notice deadline of December 2, 2028, leaving a compressed window for re-leasing or disposition planning. Rent at expiration was not disclosed, creating uncertainty around renewal economics. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp. — the sixth-largest U.S. c-store operator with roughly 3,500 locations — provides institutional-grade credit support. That guarantor quality partially offsets term risk, but buyers should underwrite this as a value-add or repositioning play rather than a long-duration core hold.
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