GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
496 W Main St, Mecosta, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Dec 31, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $44,430 |
| Base rent $/SF | $20.67 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Jun 04, 2027 |
| Year built | 1980 |
| Building SF | 2,149 |
| Land area (acres) | 0.33 |
| Pre G&A CFC | -1.32x (2023) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 3,170 | 9,226 |
| Households | 0 | 1,624 | 4,371 |
| Pop. density (/sq mi) | 0 | 112 | 117 |
| Avg HH income | — | $61,325 | $69,569 |
| Poverty rate | — | 14.5% | 13.9% |
| Bachelor's+ | — | 21.9% | 22.4% |
| Median home value | — | $181,500 | $185,798 |
| Median rent | — | $912 | $731 |
| Median age | — | 58 | 56 |
| Owner-occupied | — | 85.1% | 86.6% |
496 W Main St is a 2,149 SF Marathon-branded convenience store in Mecosta, Michigan, operated by GPM Investments under the Fas Mart banner, with 1.4 years of lease term remaining through December 31, 2027. The site scores 47/100 on location grade, reflecting modest traffic, thin local density, and limited economic depth. This is a near-term rollover play requiring a buyer to underwrite both the real estate and the renewal decision.
The immediate one-mile trade area shows negligible resident population, with meaningful demand only emerging at three miles, where 3,170 people carry an average household income of $61,325 and a poverty rate of 14.5%. The five-mile population of 9,226 at $69,569 average household income represents a low-density rural catchment with constrained spending power. These figures do not support a strong convenience retail thesis on demographics alone.
Mecosta County is a nonmetro, metro-adjacent market that has shown modest population growth of 3.8% from 2020 to 2024, reaching approximately 41,947 residents. The county unemployment rate of 6.9% exceeds typical nonmetro benchmarks, and the modest 731 total business establishments signal a thin commercial base. The market offers limited downside protection if the tenant vacates at lease expiration.
The site sits within 0.01 miles of a major road but records only 2,226 vehicles per day in average daily traffic, a figure well below thresholds that support healthy fuel and convenience volumes. A Walk Score of 10 confirms the site is entirely auto-dependent, and nearby amenities are minimal with one restaurant and two retail establishments within one mile. Competitive exposure is limited to one rival gas station within one mile, which provides modest relief.
The property sits within FEMA Flood Zone A, indicating a high-risk designation with a one-percent annual chance of flooding, which introduces insurance cost and lender underwriting friction. The county unemployment rate of 6.9% and 14.5% three-mile poverty rate suggest a demand environment that may not support rent growth at renewal. With only 1.4 years remaining and notice required by June 2027, a buyer faces immediate rollover execution risk.
The lease expires December 31, 2027, leaving minimal term for a buyer to harvest stable income before confronting a renewal or re-tenanting decision. Current rent of $44,430 annually at $20.67 per square foot is modest, and no rent-at-expiration escalation is documented, limiting income growth visibility. The guarantor, GPM Investments under publicly traded ARKO Corp., provides institutional-grade credit support, but ARKO's operational rationalization of underperforming sites means renewal is not guaranteed. One renewal option exists, but the short notice window compresses a buyer's negotiating runway considerably.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)