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 | 4.6 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 with 4.6 years of remaining term and a corporate guaranty from GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp. The site benefits from 44,000 vehicles per day of traffic exposure and sits within a high-income, rapidly growing coastal submarket of Pender County. At a Location Grade of 67/100, the asset is functional and well-trafficked but carries meaningful near-term rollover exposure.
The immediate one-mile ring shows no reportable residential population, suggesting the site draws primarily from pass-through traffic rather than a dense surrounding neighborhood. The three-mile trade area, however, reflects an affluent suburban profile with 11,171 residents, average household income of $130,191, median home values of $464,696, and an owner-occupancy rate of 90.6%. This is a quality consumer base, though its modest density limits organic foot traffic growth.
Pender County is a growth market, with population expanding 15.6% from 2020 to 2024, reaching 70,077, and unemployment sitting at a low 3.1%. The metro classification as a 250K-1M population MSA supports continued regional economic activity, and proximity to the Wilmington metro adds further demand depth. Retail and food service infrastructure in the county remains relatively thin, which limits local competition but also signals a lower-density suburban environment.
The site fronts a major road with 44,000 AADT and sits just 0.02 miles from the nearest arterial, providing strong vehicular capture. However, four competing gas stations exist within a half-mile, creating a dense competitive cluster that limits pricing power and fuel volume upside. A Walk Score of 44 confirms full car dependency, which is appropriate for the use but reinforces reliance on traffic volume as the primary demand driver.
1. FEMA Flood Zone X designation indicates minimal flood hazard, which is a material positive given the coastal North Carolina location. 2. No EV charging infrastructure within five miles currently reduces transition risk at this site, though longer-term fuel demand trends bear monitoring. 3. Crime statistics were not available at the state level for this analysis, leaving safety context unquantified.
With 4.6 years remaining through March 2031 and one renewal option requiring notice by September 2030, a buyer is acquiring a near-term rollover asset. Current rent of $195,221 annually ($57.57/SF) provides a clear income floor, but no rent-at-expiration data is available to assess escalation, creating uncertainty around terminal value and renewal economics. GPM Investments, guaranteed by ARKO Corp., is a publicly traded, SEC-reporting entity operating roughly 3,500 sites across 34 states, providing institutional-grade credit quality. That credit strength is the primary underwriting anchor; buyers must underwrite residual value conservatively given lease brevity.
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