GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1487 Main St, Bonneau, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2031 |
| Remaining term | 4.6 yrs |
| Lease term (months) | — |
| Annual base rent | $44,535 |
| Base rent $/SF | $12.22 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 1996 |
| Building SF | 3,644 |
| Land area (acres) | 0.77 |
| Pre G&A CFC | 3.38x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 4,182 | 5,829 |
| Households | 0 | 1,709 | 2,422 |
| Pop. density (/sq mi) | 0 | 148 | 74 |
| Avg HH income | — | $86,085 | $81,350 |
| Poverty rate | — | 10.0% | 13.9% |
| Bachelor's+ | — | 14.1% | 12.5% |
| Median home value | — | $226,700 | $206,328 |
| Median rent | — | $878 | $880 |
| Median age | — | 48 | 49 |
| Owner-occupied | — | 82.9% | 83.6% |
This net lease gas station and convenience store at 1487 Main St, Bonneau, SC is a single-tenant asset occupied by Youngs/Fas Mart under a GPM Investments guarantee, with 4.6 years of remaining term and annual base rent of $44,535. The site earns an Average location grade of 45/100, reflecting modest rural demographics and elevated same-trade competition. The investment thesis rests primarily on the guarantor credit and near-term income certainty rather than location upside.
The immediate one-mile trade area is effectively uninhabited, with meaningful population only emerging at the three-mile ring at 4,182 residents and average household income of $86,085. Density is extremely low at 148 persons per square mile at three miles and 74 at five miles, consistent with a rural South Carolina market. Owner-occupancy of 82.9% and a 10.0% poverty rate at three miles suggest a stable but income-constrained consumer base.
Berkeley County is a legitimate growth story, expanding 14.2% from 231,508 to 264,276 residents between 2020 and 2024, driven by Charleston metro spillover. Unemployment sits at a healthy 3.5% with over 60,000 county employees across 4,079 establishments. Bonneau itself, however, remains a small rural node that does not yet capture meaningful benefit from broader county growth trends.
Traffic of 15,100 AADT with 0.01-mile proximity to a major road provides adequate drive-by exposure for a fuel and convenience format. A Walk Score of 22 and Bike Score of 29 confirm full auto-dependency, which is standard for this asset class but limits the addressable walk-in customer base. Minimal nearby amenities, with only four restaurants and seven retail outlets within one mile, reflect the site's rural character.
FEMA Zone X designation indicates minimal flood hazard, removing a material environmental liability from underwriting. No state-level crime data was available for independent risk assessment. No EV charging infrastructure exists within five miles, which currently presents no displacement risk but warrants monitoring over the lease horizon.
With 4.6 years to expiration and a single renewal option remaining, a buyer faces rollover execution risk by 2031 at a relatively modest rent of $44,535 annually, or $12.22 per square foot. No rent-at-expiration figure is disclosed, limiting visibility into contractual rent growth. GPM Investments, guaranteed by Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator with approximately 3,500 locations, provides meaningful credit support, though ARKO's publicly reported financial pressures and portfolio rationalization activity warrant diligence on lease continuity.
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