GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1041 S Mission St, Mount Pleasant, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Sep 30, 2028 |
| Remaining term | 2.1 yrs |
| Lease term (months) | — |
| Annual base rent | $63,471 |
| Base rent $/SF | $38.05 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Mar 04, 2028 |
| Year built | 1990 |
| Building SF | 1,668 |
| Land area (acres) | 0.32 |
| Pre G&A CFC | 0.88x (2024) |
| Lease status | Active |
Mount Pleasant is home to Central Michigan University (~15,000 students) and the Soaring Eagle Casino & Resort — Michigan's largest gaming floor, whose concert series alone draws 13,000+ per show. Student and destination demand supplement the resident base.
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 | 14,083 | 32,212 | 32,212 |
| Households | 4,400 | 12,630 | 12,630 |
| Pop. density (/sq mi) | 4,483 | 1,139 | 410 |
| Avg HH income | $54,513 | $60,060 | $60,060 |
| Poverty rate | 42.0% | 34.8% | 34.8% |
| Bachelor's+ | 47.2% | 41.3% | 41.3% |
| Median home value | $159,387 | $158,176 | $158,176 |
| Median rent | $885 | $899 | $899 |
| Median age | 23 | 28 | 28 |
| Owner-occupied | 26.1% | 34.5% | 34.5% |
This Marathon/Fas Mart convenience store at 1041 S Mission St, Mount Pleasant, MI earns a location grade of 63 out of 100, indicating a functional but moderately challenged site. With 2.1 years of remaining term and a single renewal option, near-term rollover risk is the defining underwriting concern for prospective buyers.
The immediate trade area carries meaningful economic stress, with a 42.0% poverty rate within one mile and average household income of $54,513, well below national benchmarks. The three-mile population of 32,212 is anchored partly by Central Michigan University, which drives the elevated educational attainment at 41.3% bachelor-degree holders but also suppresses owner-occupancy to 34.5% and inflates poverty figures.
Isabella County is a nonmetro market with modest but stable population growth, adding roughly 550 residents from 2020 to 2024. The local economy of 25,410 employees across 1,411 establishments reflects a small regional center rather than a high-growth corridor, limiting organic rent escalation potential upon lease rollover.
The site benefits from genuine accessibility, sitting 0.05 miles from a major road with daily traffic of 24,214 vehicles and a Walk Score of 85. Daytime employment density of 9,835 jobs within one mile supports convenience fuel and in-store demand throughout the week.
No FEMA flood exposure is present, as the site sits in Zone X with minimal hazard. State-level crime data was not available for this analysis, which limits a complete risk assessment. The physical asset is a 1,668 SF building constructed in 1990, introducing potential deferred maintenance or environmental remediation considerations typical of legacy fuel sites.
With only 2.1 years remaining and a notice deadline of March 2028, a buyer acquires near-term rollover exposure rather than durable income certainty. No rent-at-expiration figure is available, making it impossible to underwrite a contractual rent step, and the single remaining renewal option provides limited long-term hold flexibility. The lease guarantor is GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, which provides meaningful but not investment-grade-rated credit support. The near-term lease maturity compresses the risk-adjusted return profile and demands buyers underwrite a re-tenanting or renewal scenario with limited contractual protection.
Full institutional offering memorandum with all 143 property briefs, maps, and tax analysis.
Download full OM (PDF)