GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
1272 Dick Pond Rd, Myrtle Beach, SC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Dec 15, 2026 |
| Remaining term | 0.3 yrs |
| Lease term (months) | — |
| Annual base rent | $24,750 |
| Base rent $/SF | $7.37 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | May 01, 2026 |
| Year built | 2004 |
| Building SF | 3,360 |
| Land area (acres) | 1.32 |
| Pre G&A CFC | 13.87x (2024) |
| Lease status | Active |
Myrtle Beach is one of the most-visited beach-tourism destinations in the U.S., drawing tens of millions of visitors annually. Demand is overwhelmingly seasonal/destination-driven and not reflected in resident-population 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 | 45,152 | 74,594 |
| Households | 0 | 19,549 | 31,644 |
| Pop. density (/sq mi) | 0 | 1,597 | 950 |
| Avg HH income | — | $86,917 | $85,568 |
| Poverty rate | — | 8.8% | 9.7% |
| Bachelor's+ | — | 31.4% | 30.0% |
| Median home value | — | $302,369 | $276,867 |
| Median rent | — | $1,275 | $1,345 |
| Median age | — | 52 | 50 |
| Owner-occupied | — | 69.3% | 73.8% |
This Scotchman-branded convenience store and gas station at 1272 Dick Pond Rd sits within the rapidly expanding Myrtle Beach corridor of Horry County, earning a location grade of 78 out of 100. The asset offers a functional 3,360 SF building on 1.3 acres with immediate highway adjacency, but the near-term lease expiration in December 2026 makes this a rollover-driven acquisition requiring careful underwriting of re-leasing probability and renewal execution.
The 3-mile trade area supports 45,152 residents with average household income of $86,917, a median home value of $302,369, and a low poverty rate of 8.8%, reflecting a stable, middle-income consumer base. The 5-mile population of 74,594 with comparable income metrics confirms consistent demand depth. The zero-population 1-mile reading suggests the immediate parcel is surrounded by commercial or undeveloped land, which is typical for highway-oriented convenience retail.
Horry County is among the fastest-growing markets in the Southeast, expanding 16.9% from 2020 to 2024 and reaching 413,391 residents, well within the Metro 250K-1M classification. With 10,313 total business establishments, 1,186 food service operators, and sustained tourism-driven economic activity, the Myrtle Beach trade area provides durable retail traffic fundamentals. Unemployment at 4.8% is manageable and broadly in line with national averages.
The site sits 0.01 miles from a major road, providing exceptional ingress visibility and traffic capture for fuel and convenience customers. A Walk Score of 55 and Bike Score of 58 indicate moderate non-vehicular accessibility, appropriate for this format. Twenty restaurants and 17 retail locations within one mile reflect a developed commercial node that drives co-anchored convenience demand.
The property falls within FEMA Flood Zone X, indicating minimal flood hazard and no mandatory flood insurance requirement, which is favorable for long-term asset durability. State-level crime data was unavailable, which limits a full safety assessment. Eight EV charging stations within five miles represent early-stage but growing alternative fueling infrastructure that warrants monitoring over the investment horizon.
With only 0.3 years of remaining term and a May 2026 renewal notice deadline, a buyer is effectively acquiring a rollover risk story at closing. Current rent of $24,750 annually, or $7.37 per square foot, is below market for a high-visibility coastal convenience corridor, meaning renewal or re-tenanting could produce upside, but execution risk is real and immediate. GPM Investments, LLC, as guarantor and subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides meaningful credit depth, though only one of two renewal options remains, and the tenant's exercise intent is unconfirmed.
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