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 | 2.6 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 is a 2,016 SF convenience store and gas station operated by Youngs/Fas Mart under the GPM Investments/ARKO Corp. platform in Lake City, South Carolina, a small Florence County market. The site carries a Location Grade of 57/100 (STRONG), supported by zero direct fuel competition within one mile and immediate access to a major road, though constrained by thin surrounding population density and a short remaining lease term of 2.6 years.
The immediate one-mile trade area returns negligible resident population, shifting the demand thesis almost entirely to drive-by and daytime employment capture. The three-mile ring holds 4,506 residents at a modest average household income of $59,529 with a 19.9% poverty rate, and the five-mile population of 11,678 at $69,503 average household income provides only moderate depth. These are below-average socioeconomic indicators for a net lease convenience asset and cap long-term organic sales growth expectations.
Lake City sits within Florence County, a sub-250K metro with 138,049 residents as of 2024, reflecting modest growth of 0.9% since 2020 and a 4.2% unemployment rate. The county supports 3,240 total establishments and 64,862 employees, providing a functional but not dynamic economic backdrop. With only 290 daytime jobs within one mile, the site relies primarily on arterial traffic rather than a dense employment or retail node.
The site benefits from direct frontage on a major road with only 0.01 miles to the nearest arterial, generating 6,700 AADT, and faces zero competing gas stations within one mile, which is a meaningful supply-side advantage. However, a Walk Score of 7 and a single nearby restaurant and retail establishment within one mile confirm an auto-dependent, low-density environment with limited ecosystem support.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard and no expected insurance surcharge. State-level crime data was not available for this analysis. No material environmental or EV displacement risk is flagged given only two EV charging stations within five miles.
With 2.6 years of term remaining and a September 2028 notice deadline for the sole remaining renewal option, a buyer acquires near-term rollover exposure rather than durable income. Current rent of $70,158 annually ($34.80/SF) is modest, and no escalated rent-at-expiration figure is available to quantify upside. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 sites, provides institutional-grade credit support, but that credit quality does not offset the structural urgency of resolving renewal or re-tenanting within a compressed window.
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