GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
359 Whiteville Rd NW, Shallotte, NC
| 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 | $170,819 |
| Base rent $/SF | $50.23 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 1999 |
| Building SF | 3,401 |
| Land area (acres) | 1.07 |
| Pre G&A CFC | 5.01x (2024) |
| Lease status | Active |
Shallotte sits in Brunswick County, the gateway to the South Brunswick Islands beaches (Ocean Isle, Holden, Sunset Beach) and minutes from the Myrtle Beach market — a seasonal coastal-tourism corridor.
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 | 2,962 | 11,366 |
| Households | 0 | 1,427 | 5,195 |
| Pop. density (/sq mi) | 0 | 105 | 145 |
| Avg HH income | — | $105,591 | $86,237 |
| Poverty rate | — | 4.7% | 14.2% |
| Bachelor's+ | — | 29.1% | 24.7% |
| Median home value | — | $293,700 | $233,370 |
| Median rent | — | $1,532 | $1,270 |
| Median age | — | 60 | 57 |
| Owner-occupied | — | 87.7% | 83.0% |
This Scotchman/Fas Mart convenience store in Shallotte, NC offers a mid-tenure net lease backed by GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience-store operator. The property earns an average location grade of 55/100, reflecting modest traffic counts and thin immediate-area population, partially offset by strong county-level growth and above-average household incomes in the trade area. Buyers should underwrite this as a secondary-market, operator-credit play with meaningful rollover risk inside five years.
The 1-mile ring shows negligible residential population, indicating the site depends heavily on commuter and pass-through capture rather than a dense neighborhood base. The 3-mile ring delivers a more constructive picture, with 2,962 residents, average household income of $105,591, and an 87.7% owner-occupancy rate suggesting stable, affluent suburban demand. The 5-mile population of 11,366 at $86,237 average household income is adequate but not robust for a convenience-fuel concept.
Brunswick County is one of the faster-growing counties in the Carolinas, expanding 20.9% from 2020 to 2024, now at 167,112 residents within a metro class of 250,000 to 1 million. Low unemployment at 3.8% and a meaningful retail and food-service establishment base support ongoing consumer spending. The Shallotte corridor benefits from coastal proximity and retirement-driven in-migration, which underpins long-term demand but does not guarantee near-term traffic intensification at this specific node.
The site sits 0.01 miles from a major road with 13,500 AADT, providing adequate but not exceptional traffic exposure for a fuel and convenience format. A Walk Score of 32 confirms full car dependency, consistent with the suburban highway character of the corridor. Twenty nearby restaurants and 12 retail destinations within one mile suggest a functioning trade area, though four competing gas stations within one mile create meaningful fuel-price pressure.
The property sits in FEMA Flood Zone X, indicating minimal flood hazard and no material environmental exposure on that dimension. State-level violent and property crime data were not available for this analysis, leaving local safety context unquantified. No dollar or discount store competition within half a mile is a modest positive for in-store sales protection.
With 4.8 years of remaining term and a single renewal option requiring notice by September 2030, a buyer faces a defined rollover decision within a relatively near horizon. Current rent of $170,819 annually at $50.23 per square foot is meaningful, though the absence of a stated rent-at-expiration figure limits visibility into escalation economics. GPM Investments, guaranteed by ARKO Corp. and its roughly 3,500-site national platform, provides investment-grade-adjacent credit quality that partially offsets the short runway, but buyers must underwrite re-leasing or re-tenanting risk in a secondary coastal market.
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