GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
24 Country Club Dr, Hampstead, NC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2031 |
| Remaining term | 4.8 yrs |
| Lease term (months) | — |
| Annual base rent | $195,221 |
| Base rent $/SF | $57.57 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 2000 |
| Building SF | 3,391 |
| Land area (acres) | 1.72 |
| Pre G&A CFC | 2.05x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 11,171 | 25,941 |
| Households | 0 | 4,156 | 9,823 |
| Pop. density (/sq mi) | 0 | 395 | 330 |
| Avg HH income | — | $130,191 | $119,118 |
| Poverty rate | — | 6.3% | 6.0% |
| Bachelor's+ | — | 46.5% | 43.7% |
| Median home value | — | $464,696 | $382,292 |
| Median rent | — | $2,369 | $1,924 |
| Median age | — | 44 | 42 |
| Owner-occupied | — | 90.6% | 84.3% |
This Scotchman-branded convenience store and gas station at 24 Country Club Dr, Hampstead, NC is a 3,391 SF net lease asset on 1.72 acres generating $195,221 in annual base rent with 4.8 years of remaining term. The site earns a location grade of 67/100 (Strong), supported by 44,000 AADT and proximity to a high-income, fast-growing coastal Pender County submarket. The investment thesis rests primarily on lease credit quality and near-term rollover risk management.
The 3-mile trade area posts average household income of $130,191, median home value of $464,696, and a low 6.3% poverty rate, reflecting an affluent suburban coastal profile. Owner occupancy of 90.6% and bachelor's degree attainment of 46.5% signal a stable, established residential base. The 5-mile population of 25,941 at $119,118 average household income sustains convenience retail demand across a broader catchment.
Pender County has grown 15.6% from 2020 to 2024, reaching 70,077 residents, ranking it among the faster-growing counties in coastal North Carolina. A 3.1% unemployment rate and Metro classification within the 250K-1M population tier underscore economic health. The Hampstead corridor benefits from spillover demand from the greater Wilmington MSA immediately to the south.
The site sits 0.02 miles from a major road and captures 44,000 vehicles per day, providing strong drive-by visibility and fuel capture opportunity. However, four competing gas stations exist within 0.5 miles, creating meaningful fuel margin and convenience revenue pressure. A Walk Score of 44 confirms auto-dependency, which is structurally appropriate for this use but limits any optionality for alternative tenant profiles.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard, which is a favorable environmental profile for a coastal North Carolina asset. No EV charging infrastructure exists within five miles, which currently presents no near-term competitive threat but warrants monitoring over the lease horizon. State-level crime statistics were unavailable, limiting a full security risk assessment.
With 4.8 years of remaining term expiring March 31, 2031, a buyer faces a near-to-medium term rollover event requiring active asset management. The lease carries one remaining renewal option with a notice deadline of September 3, 2030, providing one extension pathway at the tenant's discretion. Rent at expiration data is unavailable, creating pricing uncertainty around renewal economics. The guarantor, GPM Investments, LLC, is a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator with approximately 3,500 locations across 34 states, providing institutional-grade, publicly accountable credit support that meaningfully underpins income security through expiration.
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