GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3754 S Irby St, Florence, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2029 |
| Remaining term | 2.6 yrs |
| Lease term (months) | — |
| Annual base rent | $67,107 |
| Base rent $/SF | $44.50 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2028 |
| Year built | 1978 |
| Building SF | 1,508 |
| Land area (acres) | 0.70 |
| Pre G&A CFC | 1.35x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 23,187 | 49,505 |
| Households | 0 | 9,302 | 20,016 |
| Pop. density (/sq mi) | 0 | 820 | 630 |
| Avg HH income | — | $81,946 | $82,535 |
| Poverty rate | — | 18.2% | 17.0% |
| Bachelor's+ | — | 25.7% | 27.5% |
| Median home value | — | $179,615 | $186,212 |
| Median rent | — | $1,024 | $1,016 |
| Median age | — | 39 | 40 |
| Owner-occupied | — | 70.1% | 66.9% |
This Fas Mart-branded convenience store and gas station at 3754 S Irby St, Florence, SC is a mid-term net lease investment backed by GPM Investments, LLC, a subsidiary of publicly traded ARKO Corp. The site earns a location grade of 64 out of 100, reflecting adequate but not exceptional positioning in a moderately sized Southeast Carolina market. The short remaining lease term of 2.6 years and limited traffic counts are the defining underwriting considerations.
The immediate one-mile ring shows no meaningful residential population, concentrating usable demand at the three-mile level where 23,187 residents generate average household income of $81,946 alongside a 18.2% poverty rate. The five-mile trade area expands to approximately 49,500 residents at comparable income levels. Demand fundamentals are moderate but not compelling, and the elevated poverty rate introduces sensitivity to fuel price volatility.
Florence County is a sub-250K metro with modest but stable population growth of 0.9% from 2020 to 2024 and an unemployment rate of 4.2%, roughly in line with national norms. The county supports 3,240 business establishments and 64,862 employees, providing a functional but unspectacular economic base. Daytime employment density within one mile is thin at 864 jobs, limiting impulse-stop traffic generation.
The site sits 0.01 miles from a major road and faces only one competing gas station within a full mile, suggesting limited direct fuel competition. However, an AADT of just 2,500 vehicles per day is significantly below the threshold institutional buyers typically require for convenience retail, and a Walk Score of 10 confirms near-total auto dependency with no pedestrian or transit demand layer.
FEMA designates the site Zone X, meaning minimal flood exposure, which is a clean environmental baseline. No violent or property crime data was available for independent assessment. The building dates to 1978, introducing potential deferred maintenance and capital expenditure exposure at or after lease rollover.
With 2.6 years of term remaining and a notice date for renewal election of September 2028, a buyer faces near-term rollover risk as the primary underwriting variable. Current rent of $67,107 annually at $44.50 per square foot provides a visible cash flow baseline, but no contractual rent at expiration or escalation data is disclosed, leaving re-leasing economics uncertain. One renewal option remains available, providing modest optionality. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience store operator with roughly 3,500 locations, provides institutional-grade credit quality that partially offsets the short term.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)