GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
840 E Main St, Lake City, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2029 |
| Remaining term | 2.8 yrs |
| Lease term (months) | — |
| Annual base rent | $70,158 |
| Base rent $/SF | $34.80 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2028 |
| Year built | 1976 |
| Building SF | 2,016 |
| Land area (acres) | 0.70 |
| Pre G&A CFC | 0.36x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 840 E Main St |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 4,506 | 11,678 |
| Households | 0 | 1,858 | 4,768 |
| Pop. density (/sq mi) | 0 | 159 | 149 |
| Avg HH income | — | $59,529 | $69,503 |
| Poverty rate | — | 19.9% | 19.7% |
| Bachelor's+ | — | 23.1% | 20.5% |
| Median home value | — | $140,323 | $110,128 |
| Median rent | — | $851 | $734 |
| Median age | — | 41 | 42 |
| Owner-occupied | — | 49.9% | 52.0% |
840 E Main St, Lake City, SC is a 2,016 SF convenience store and gas station operated by Youngs/Fas Mart under a GPM Investments lease expiring March 2029, with roughly 2.8 years of term remaining. The site carries a location grade of 57 out of 100, reflecting a rural, auto-dependent trade area with modest population density but zero direct fuel competition within one mile. This is a short-term income play on a corporately guaranteed lease, not a long-term core hold.
The immediate one-mile ring is effectively unpopulated, with the three-mile population reaching only 4,506 at a sparse 159 persons per square mile. Average household income at the three-mile level is $59,529, and the poverty rate of 19.9 percent signals a value-oriented consumer base with limited discretionary spending. The five-mile ring expands to 11,678 residents and a slightly stronger $69,503 average household income, which is the realistic outer bound of the trade area.
Lake City sits within Florence County, a sub-250K metro posting modest population growth of 0.9 percent from 2020 to 2024 and an unemployment rate of 4.2 percent. The county's 3,240 establishments and 64,862 employees suggest a functional but not dynamic regional economy. Demand drivers for this convenience location are limited, with only 2,683 daytime jobs within three miles and a single nearby restaurant within one mile.
The site fronts a major road with AADT of 6,700 vehicles per day, which is modest for a fuel destination but acceptable given zero competing gas stations within one mile. Walk Score of 7 confirms near-total auto dependency, and the surrounding retail ecosystem is thin, with only one nearby retail establishment within one mile. The site's competitive moat is geographic isolation rather than traffic volume or density.
Flood exposure is minimal at FEMA Zone X. Crime statistics were unavailable for independent verification, which limits underwriting precision. The rural, low-density profile with a 19.9 percent poverty rate creates demand ceiling risk if the tenant elects not to renew.
With 2.8 years of remaining term and a single renewal option requiring notice by September 2028, the buyer faces near-term rollover risk. Current rent of $70,158 annually at $34.80 per square foot provides stable cash flow, but no rent-at-expiration data was provided, limiting visibility into renewal economics. The lease guaranty from GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides meaningful credit quality for the hold period, though the short runway compresses the value of that credit to a buyer.
Full institutional offering memorandum with all 48 briefs, maps, and tax analysis.
Download full OM (PDF)