GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2301 Hoffmeyer Rd, Florence, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2028 |
| Remaining term | 1.8 yrs |
| Lease term (months) | — |
| Annual base rent | $117,132 |
| Base rent $/SF | $48.18 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1982 |
| Building SF | 2,431 |
| Land area (acres) | 0.70 |
| Pre G&A CFC | 1.25x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 2,640 | 31,973 | 68,750 |
| Households | 936 | 13,420 | 27,006 |
| Pop. density (/sq mi) | 840 | 1,131 | 875 |
| Avg HH income | $136,618 | $89,078 | $85,483 |
| Poverty rate | 8.3% | 15.2% | 15.9% |
| Bachelor's+ | 40.7% | 33.4% | 29.8% |
| Median home value | $368,400 | $198,612 | $188,750 |
| Median rent | $891 | $1,011 | $1,029 |
| Median age | 41 | 39 | 39 |
| Owner-occupied | 82.3% | 57.9% | 62.4% |
This Fas Mart-branded convenience store and gas station at 2301 Hoffmeyer Rd operates on a corporate-guaranteed net lease with 1.8 years of remaining term, producing $117,132 in annual base rent. The guarantor is GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. c-store operator. The asset scores 67/100 on location grade, reflecting a serviceable but competitive suburban corridor trade area in Florence, South Carolina.
The immediate 1-mile population is thin at 2,640, though average household income is notably elevated at $136,618, suggesting an affluent residential pocket proximate to the site. The 3-mile ring broadens to nearly 32,000 residents with average household income of $89,078, reasonable home values near $199,000, and a 33.4% bachelor's-degree attainment rate. The 5-mile population reaches 68,750, providing a meaningful consumer base for fuel and convenience demand.
Florence County is a sub-250K metro posting modest but positive population growth of 0.9% from 2020 to 2024, with unemployment at 4.2% and a broad employer base of 64,862 jobs across 3,240 establishments. Daytime employment density is a meaningful demand driver, with 6,942 jobs within one mile and 32,136 within three miles, yielding a day-to-night ratio of 2.63 that supports convenience traffic. The retail and food-service ecosystem within the county is established, reflecting a functioning secondary market rather than a growth story.
Site traffic registers 17,600 vehicles per day, adequate but not exceptional for a fuel-and-convenience format. The Walk Score of 40 confirms car dependency, which is appropriate for the use, and 20 nearby restaurants and 20 retail establishments within one mile suggest a developed commercial corridor.
Competitive density is elevated, with 12 gas stations within one mile. FEMA flood designation is Zone X, presenting minimal environmental risk. No dollar or discount store competition exists within a half mile, which is a modest positive for in-store sales.
With only 1.8 years of term remaining, a buyer assumes near-term rollover risk. The lease expires March 31, 2028, with a renewal notice deadline of September 4, 2027, leaving little time to reposition if the tenant does not exercise its remaining option. Rent at expiration is unspecified, creating uncertainty around renewal economics. ARKO Corp.'s Nasdaq-listed, SEC-reporting status provides institutional-grade credit transparency across its roughly 3,500-site platform, partially offsetting short-term concerns.
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