GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
4101 Postal Way, Myrtle Beach, SC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2030 |
| Remaining term | 3.6 yrs |
| Lease term (months) | — |
| Annual base rent | $106,068 |
| Base rent $/SF | $19.13 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2029 |
| Year built | 2006 |
| Building SF | 5,545 |
| Land area (acres) | 1.27 |
| Pre G&A CFC | 10.56x (2024) |
| Lease status | Active |
Myrtle Beach is one of the most-visited beach-tourism destinations in the U.S.; demand is overwhelmingly seasonal/destination-driven 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 | 38,561 | 88,676 |
| Households | 0 | 14,515 | 31,879 |
| Pop. density (/sq mi) | 0 | 1,364 | 1,129 |
| Avg HH income | — | $94,009 | $88,474 |
| Poverty rate | — | 10.0% | 13.6% |
| Bachelor's+ | — | 31.6% | 30.5% |
| Median home value | — | $307,743 | $286,672 |
| Median rent | — | $1,309 | $1,294 |
| Median age | — | 45 | 39 |
| Owner-occupied | — | 84.2% | 75.5% |
This Scotchman/Fas Mart convenience store and gas station at 4101 Postal Way, Myrtle Beach, SC operates under a GPM Investments-guaranteed lease expiring March 2030, offering 3.6 years of remaining term at $106,068 annually. The site earns a location grade of 66/100 (Strong), anchored by solid 3-mile population density and above-average household incomes in a high-growth coastal market. The short residual term and competitive fuel environment temper an otherwise credible income stream.
The 3-mile trade area supports 38,561 residents at a density of 1,364 per square mile, with average household income of $94,009 and median home values of $307,743, both well above national medians. The 5-mile population expands to 88,676 with average HH income of $88,474, indicating a broad, economically stable consumer base. Owner occupancy of 84.2% within 3 miles signals a rooted residential community with consistent fuel and convenience demand.
Horry County has grown 16.9% from 2020 to 2024, reaching 413,391 residents, placing it among the faster-growing non-major metros in the Southeast. The local economy supports 10,313 establishments and 118,467 employees, with a robust retail and food-service commercial base. Tourism-driven seasonal demand in Myrtle Beach adds incremental upside to traffic and in-store sales volumes.
The site posts a Walk Score of 62 and sits 0.42 miles from the nearest major road, with 20 nearby restaurants and 20 retail tenants within one mile supporting moderate co-tenancy. Daytime employment within 3 miles totals nearly 9,000 jobs, providing a consistent commuter and workforce customer segment. However, the 1-mile population reading of zero suggests the immediate parcel is situated away from dense residential fabric.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard, which is a positive for a coastal South Carolina asset. No state-level crime data was provided, limiting a full safety assessment. The absence of AADT traffic counts is a material data gap that prevents independent verification of fuel volume and site productivity.
With 3.6 years remaining and a single renewal option requiring notice by September 2029, a buyer faces near-term rollover risk with limited runway. Current rent of $106,068 ($19.13/SF) provides in-place income, but no rent-at-expiration data makes it impossible to assess contractual growth. The guarantor, GPM Investments, is a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, providing institutional-grade credit support that partially offsets term risk.
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