GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
815 Industrial Dr, Clare, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Jun 30, 2029 |
| Remaining term | 3.0 yrs |
| Lease term (months) | — |
| Annual base rent | $83,148 |
| Base rent $/SF | $30.84 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Dec 02, 2028 |
| Year built | 1990 |
| Building SF | 2,696 |
| Land area (acres) | 1.38 |
| Pre G&A CFC | 5.08x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 4,156 | 4,156 |
| Households | 0 | 1,663 | 1,663 |
| Pop. density (/sq mi) | 0 | 147 | 53 |
| Avg HH income | — | $63,431 | $63,431 |
| Poverty rate | — | 24.7% | 24.7% |
| Bachelor's+ | — | 18.4% | 18.4% |
| Median home value | — | $128,000 | $128,000 |
| Median rent | — | $808 | $808 |
| Median age | — | 43 | 43 |
| Owner-occupied | — | 61.2% | 61.2% |
815 Industrial Dr is a 2,696 SF Marathon-branded convenience store in Clare, MI, occupied by GPM Investments under a lease expiring June 2029 with roughly 3.0 years remaining. The site scores 42/100 on location grade, reflecting thin population density, modest traffic counts of 5,280 AADT, and a below-average demographic profile. This is a secondary-market, income-play acquisition with near-term rollover exposure priced accordingly.
The immediate 1-mile ring reports zero measurable population, with the 3-mile trade area reaching only 4,156 residents at 147 per square mile, average household income of $63,431, and a poverty rate of 24.7%. These figures are materially below national convenience-store site benchmarks and indicate limited organic demand growth. The population count is identical at 5 miles, confirming a rural cluster with no expanding suburban catchment.
Clare sits in Isabella County, classified as nonmetro urban adjacent with a 2020-to-2024 population gain of just 551 residents, or 0.9%. County unemployment of 5.1% runs modestly above national norms, and the retail and food-service base of 372 combined establishments reflects a limited but stable local economy. Demand drivers are steady rather than growth-oriented.
The site is 0.07 miles from the nearest major road and has zero competing gas stations within a half-mile, providing near-term captive traffic. However, four competitors exist within one mile, and the 5,280 AADT is low relative to institutional gas station standards, which typically target 15,000 or more. A Walk Score of 18 confirms the site is entirely auto-dependent with no pedestrian or transit demand component.
The property sits in FEMA Zone X, indicating minimal flood exposure. No state-level crime data was available for independent benchmarking. Environmental liability inherent to fueling operations, while not flagged here, remains a standard underwriting consideration for any gas station acquisition.
With 3.0 years remaining and a single renewal option, the buyer faces near-term rollover risk: the lease expires June 2029 with a notice deadline of December 2028, leaving limited runway to reposition if GPM elects not to renew. Current rent of $83,148 annually ($30.84/SF) provides no disclosed step-up to expiration, compressing income visibility. GPM Investments is a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, offering institutional-grade credit quality that partially offsets the short term. A buyer is essentially pricing the ARKO credit and optionality on one renewal cycle against a thin-demographic, low-traffic secondary market.
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