GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3774 Renee Dr, Myrtle Beach, SC
| Tenant / d/b/a | Scotchman |
| 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 | $244,026 |
| Base rent $/SF | $78.69 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 2002 |
| Building SF | 3,101 |
| Land area (acres) | 1.24 |
| Pre G&A CFC | 0.82x (2024) |
| Lease status | Active |
Myrtle Beach is a major beach-tourism destination drawing tens of millions of visitors annually; demand is largely seasonal and not reflected in resident metrics.
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.
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 37,219 | 88,676 |
| Households | 0 | 14,378 | 31,879 |
| Pop. density (/sq mi) | 0 | 1,316 | 1,129 |
| Avg HH income | — | $92,658 | $88,474 |
| Poverty rate | — | 10.7% | 13.6% |
| Bachelor's+ | — | 31.4% | 30.5% |
| Median home value | — | $306,549 | $286,672 |
| Median rent | — | $1,367 | $1,294 |
| Median age | — | 46 | 39 |
| Owner-occupied | — | 82.2% | 75.5% |
3774 Renee Dr is a 3,101 SF Scotchman/Fas Mart convenience store and gas station in Myrtle Beach, SC, operating under a lease guaranteed by GPM Investments (ARKO Corp., Nasdaq: ARKO), the sixth-largest U.S. c-store operator. With 4.6 years of remaining term and a single renewal option, the asset offers near-term income stability but requires buyers to underwrite meaningful rollover or re-tenanting risk at expiration in March 2031.
The immediate one-mile ring shows no reportable residential population, suggesting the site draws primarily from commuter and pass-through traffic rather than a dense residential base. The three-mile trade area supports a population of 37,219 with average household income of $92,658 and an owner-occupancy rate of 82.2%, reflecting a stable, middle-to-upper-middle-income suburban consumer base. The five-mile population reaches 88,676, providing meaningful demand depth for a fuel and convenience format.
Horry County is one of the fastest-growing markets in the Southeast, with population expanding 16.9% from 2020 to 2024, reaching 413,391. The county's tourism-driven economy supports 10,313 business establishments and 118,467 employees, sustaining consistent convenience retail demand. The Myrtle Beach metro's growth trajectory meaningfully reduces long-term re-tenanting risk if the current lease is not renewed.
The site sits 0.07 miles from a major road, providing strong vehicular accessibility, and is surrounded by 20 restaurants and 20 retail destinations within one mile, anchoring it within an active commercial corridor. A Walk Score of 55 reflects moderate pedestrian access, though this format is inherently auto-dependent. Fourteen EV charging stations within five miles signal emerging competitive pressure on fuel volumes over the lease horizon.
1. Seven competing gas stations within 0.5 miles creates a highly saturated fuel market that compresses margin and volume potential. 2. With only 4.6 years of remaining term and a single five-year renewal option, a buyer acquiring today faces rollover risk no later than 2031 with limited contractual extension runway. 3. ARKO Corp. has faced persistent profitability pressures as a publicly traded entity, introducing credit uncertainty relative to investment-grade convenience store operators.
The lease structure delivers stabilized income at $244,026 annually through March 2031, with one renewal option requiring notice by September 2030. The absence of rent at expiration data limits visibility into in-place rent versus market, a gap buyers must underwrite independently. GPM Investments as guarantor carries the backing of a publicly traded, SEC-reporting parent operating roughly 3,500 sites, but ARKO is sub-investment-grade, positioning this as a moderate-credit net lease rather than a core bond-like hold.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)