GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
489 Lake Arrowhead Rd, Myrtle Beach, SC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2038 |
| Remaining term | 11.8 yrs |
| Lease term (months) | — |
| Annual base rent | $170,819 |
| Base rent $/SF | $61.67 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | |
| Notice date | |
| Year built | 1985 |
| Building SF | 2,770 |
| Land area (acres) | 0.48 |
| Pre G&A CFC | 2.28x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 489 Lake Arrowhead Rd |
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 | 1,994 | 10,025 | 26,968 |
| Households | 1,238 | 4,852 | 12,285 |
| Pop. density (/sq mi) | 635 | 355 | 343 |
| Avg HH income | $113,248 | $120,846 | $111,198 |
| Poverty rate | 5.7% | 8.4% | 8.5% |
| Bachelor's+ | 51.0% | 41.0% | 40.0% |
| Median home value | $237,400 | $354,923 | $354,270 |
| Median rent | — | $1,297 | $1,540 |
| Median age | 64 | 59 | 53 |
| Owner-occupied | 94.1% | 84.8% | 76.4% |
Scotchman Store 2620 at 489 Lake Arrowhead Road is a 2,770 SF convenience store and gas station on a 0.48-acre site in Myrtle Beach, SC, leased through March 2038 to GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp. The location earns a Strong grade of 57/100, supported by above-average household incomes and a rapidly growing coastal market, though moderate traffic density and six competing fuel sites within one mile temper the site's competitive advantage.
The immediate trade area is affluent relative to national benchmarks, with average household income of $113,248 within one mile and $120,846 within three miles, alongside an 84.8% owner-occupancy rate and median home values of $354,923. Population density is modest at 635 per square mile within one mile, and the 1,994 residents within that radius limit captive demand, making the site more reliant on pass-through traffic than a dense urban node.
Horry County is one of the fastest-growing markets in the Southeast, with population expanding 16.9% from 2020 to 2024, reaching 413,391. The county supports over 10,300 business establishments and 118,000 employees, underpinning durable retail demand. Myrtle Beach's tourism-driven economy adds seasonal volume but also introduces revenue cyclicality not reflected in stabilized lease income.
The site sits 0.06 miles from a major road corridor and is surrounded by 20 restaurants and 15 retail destinations within one mile, creating a serviceable convenience node. However, a Walk Score of 49 confirms car-dependent access, and the day-to-night population ratio of 0.57 indicates the area skews residential rather than employment-driven, which is a modest limitation for a fuel and convenience format.
The property faces no meaningful flood exposure, classified in FEMA Zone X. No state-level crime data was available for independent review. The presence of 17 EV charging stations within five miles represents a long-horizon structural headwind to fuel volumes, though near-term impact on a 2038 lease is limited.
With 11.8 years of remaining term, this lease offers a long-duration income stream with rollover not occurring until 2038, meaningfully reducing near-term re-tenanting risk. Rent at expiration and renewal option terms are not disclosed, which prevents underwriting of terminal value or rent growth, and buyers should require that data before closing. The guarantor, GPM Investments backed by ARKO Corp., is a publicly traded, SEC-reporting operator of approximately 3,500 sites, providing institutional-grade credit quality that supports aggressive cap rate pricing.
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