GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3730 N Alpine Rd, Rockford, IL
| Tenant / d/b/a | Road Ranger |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Dec 28, 2009 |
| Lease expiration | Dec 31, 2027 |
| Remaining term | 1.5 yrs |
| Lease term (months) | — |
| Annual base rent | $140,401 |
| Base rent $/SF | $58.50 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/4 |
| Notice date | Jun 04, 2027 |
| Year built | 1997 |
| Building SF | 2,400 |
| Land area (acres) | 1.54 |
| Pre G&A CFC | 0.30x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 2,727 | 72,921 | 162,644 |
| Households | 1,142 | 30,486 | 67,752 |
| Pop. density (/sq mi) | 868 | 2,579 | 2,071 |
| Avg HH income | $100,010 | $90,259 | $78,715 |
| Poverty rate | 14.6% | 14.1% | 18.5% |
| Bachelor's+ | 51.5% | 29.1% | 25.3% |
| Median home value | $252,700 | $157,848 | $136,494 |
| Median rent | $1,321 | $1,092 | $1,051 |
| Median age | 34 | 41 | 40 |
| Owner-occupied | 55.3% | 67.7% | 59.9% |
This Road Ranger/Fas Mart location at 3730 N Alpine Rd in Rockford, Illinois is a 2,400 SF convenience store on 1.54 acres, operated by GPM Investments under the Fas Mart brand with 1.5 years of remaining lease term expiring December 31, 2027. The site earns a Location Grade of 64/100, reflecting adequate but not exceptional fundamentals. The investment thesis is primarily a near-term income play with rollover risk that demands careful underwriting of retenanting or renewal probability.
The immediate 1-mile trade area is lightly populated at 2,727 residents, though average household income of $100,010 is relatively healthy. The 3-mile ring broadens to 72,921 people with $90,259 average household income, a 67.7% owner-occupancy rate, and median home values of $157,848. Income and density taper at 5 miles, where average household income drops to $78,715 and poverty rises to 18.5%, indicating a bifurcated market.
Winnebago County is a mid-sized metro of roughly 284,000 residents experiencing modest population contraction of 0.4% between 2020 and 2024. Unemployment at 4.7% and 3-mile daytime employment of 25,034 workers provide a reasonable convenience-demand base. The market is functional but lacks the growth dynamics that would support aggressive rent escalation at renewal.
Traffic at 16,600 AADT is adequate for a convenience fuel stop, though proximity to the nearest major road at 1.46 miles limits impulse capture. Four competing gas stations within one mile introduce meaningful fuel price competition. A Walk Score of 60 and Bike Score of 37 reflect a suburban, auto-dependent setting consistent with the convenience store format.
The site carries minimal physical risk, with FEMA Flood Zone X designation indicating no meaningful flood exposure. No dollar or discount store competitors within 0.5 miles reduces one form of c-store traffic cannibalization. Crime data was unavailable for independent verification, which investors should address through third-party reporting.
With only 1.5 years remaining, a buyer is effectively acquiring rollover risk at closing. Current rent of $140,401 annually ($58.50/SF) provides no disclosed escalation to expiration, leaving rent-growth upside entirely dependent on renewal negotiation. The single four-year renewal option with a June 2027 notice deadline means a decision is imminent. GPM Investments, backed by publicly traded ARKO Corp., the sixth-largest U.S. c-store operator with roughly 3,500 locations, provides investment-grade-adjacent credit quality, but that strength is time-limited unless the renewal is exercised. Buyers should price the asset assuming renewal optionality rather than certainty.
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