GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3774 Renee Dr, Myrtle Beach, SC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2031 |
| Remaining term | 4.8 yrs |
| Lease term (months) | — |
| Annual base rent | $244,026 |
| Base rent $/SF | $78.69 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 2002 |
| Building SF | 3,101 |
| Land area (acres) | 1.24 |
| Pre G&A CFC | 0.82x (2024) |
| Lease status | Active |
Myrtle Beach is a major beach-tourism destination drawing tens of millions of visitors annually; demand is largely seasonal 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 | 37,219 | 88,676 |
| Households | 0 | 14,378 | 31,879 |
| Pop. density (/sq mi) | 0 | 1,316 | 1,129 |
| Avg HH income | — | $92,658 | $88,474 |
| Poverty rate | — | 10.7% | 13.6% |
| Bachelor's+ | — | 31.4% | 30.5% |
| Median home value | — | $306,549 | $286,672 |
| Median rent | — | $1,367 | $1,294 |
| Median age | — | 46 | 39 |
| Owner-occupied | — | 82.2% | 75.5% |
This Scotchman/Fas Mart convenience store and gas station at 3774 Renee Dr, Myrtle Beach, SC offers 4.8 years of remaining term on a net lease guaranteed by GPM Investments (ARKO Corp., Nasdaq: ARKO), the sixth-largest U.S. c-store operator. The site earned a location grade of 60/100 (Strong), supported by a rapidly growing Horry County market but tempered by meaningful competitive density. At $244,026 in annual base rent, the asset presents a stabilized income stream with near-term rollover exposure that will drive pricing.
The immediate one-mile population data is unavailable, limiting granular demand analysis at the micro level. At three miles, the trade area supports 37,219 residents with average household income of $92,658, a median home value of $306,549, and a low poverty rate of 10.7%, indicating a solidly middle-income consumer base. The five-mile population of 88,676 further confirms meaningful regional density for a coastal South Carolina location.
Horry County is one of the fastest-growing markets in the Southeast, expanding 16.9% from 2020 to 2024 to reach 413,391 residents, a demographic tailwind that directly supports convenience retail demand. The county's 10,313 business establishments and 118,467 employees reflect a diversified local economy anchored by tourism, retail, and food service. Unemployment of 4.8% is modest and consistent with a functioning labor market.
The site sits 0.07 miles from a major road, providing strong vehicular access, and the surrounding one-mile radius contains 20 restaurants and 20 retail destinations, indicating an established commercial node. A Walk Score of 55 suggests moderate foot traffic potential, though the format is fundamentally auto-dependent. Daytime employment of 3,369 within one mile and 11,725 within three miles provides a credible captive customer base.
Flood risk is minimal, as the property sits in FEMA Zone X. State-level crime statistics were not available for independent verification. No material environmental or structural red flags were identified from the available data set.
With 4.8 years of remaining term expiring March 31, 2031, a buyer faces rollover within a typical hold period. Rent at expiration is not disclosed, removing visibility into renewal economics. The single renewal option (notice required by September 2030) narrows extension flexibility. GPM Investments, as a subsidiary of publicly traded ARKO Corp., provides institutional-grade credit, but ARKO has faced margin pressure in recent periods, warranting ongoing credit monitoring. The current rent of $244,026 ($78.69/SF) is the income anchor, and re-leasing or renewal risk is the central underwriting question.
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