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 | 1.4 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 convenience store at 3730 N Alpine Rd, Rockford, IL is a mid-term net lease asset with 1.4 years of remaining term, backed by GPM Investments (ARKO Corp., Nasdaq: ARKO), the sixth-largest U.S. c-store operator. The site earns a location grade of 64/100 (Strong), supported by adequate traffic and a dense three-mile trade area, though near-term lease rollover dominates the investment narrative.
The three-mile ring holds 72,921 residents with average household income of $90,259 and a 67.7% owner-occupancy rate, reflecting a stable, working-class-to-middle-income consumer base. Poverty rates of 14.1% at three miles and 18.5% at five miles are elevated, which is consistent with Rockford's broader economic profile and supports convenience-format spending patterns rather than premium retail.
Winnebago County is a modest Midwestern metro (250K–1M class) with essentially flat population growth, down 0.4% from 2020 to 2024, and unemployment at 4.7%. The county's 6,297 total business establishments and 111,385 employees indicate a functional but slow-growth local economy with limited near-term demand drivers.
The site fronts a corridor with 16,600 AADT and sits within a mile of 20 restaurants and 15 retail tenants, providing reasonable traffic capture potential. However, the site is 1.46 miles from the nearest major road and faces four competing gas stations within one mile, which constrains fuel pricing power and volume upside.
Flood exposure is minimal (FEMA Zone X). No dollar or discount store competitors within a half mile is a modest positive for in-store traffic. The primary risk is operational and credit-related rather than physical.
With only 1.4 years of remaining term expiring December 31, 2027, a buyer acquires near-term rollover risk as the central underwriting variable. The renewal notice deadline of June 2027 arrives quickly, and only one of four renewal options has been exercised, leaving the long-term tenancy unconfirmed. Current rent of $140,401 ($58.50/SF) is above typical market rents for legacy c-store boxes, meaning renewal may require a rent reset downward. GPM Investments / ARKO Corp. provides a publicly traded, SEC-reporting guarantor with scale across approximately 3,500 sites, which is meaningful credit but does not eliminate rollover risk. Buyers should underwrite a dark scenario alongside renewal probability.
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