GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2025 E Remus Rd, Mount Pleasant, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Dec 31, 2027 |
| Remaining term | 1.4 yrs |
| Lease term (months) | — |
| Annual base rent | $126,943 |
| Base rent $/SF | $80.80 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Jun 04, 2027 |
| Year built | 1990 |
| Building SF | 1,571 |
| Land area (acres) | 1.60 |
| Pre G&A CFC | 2.43x (2024) |
| Lease status | Active |
Mount Pleasant is home to Central Michigan University (~15,000 students) and the Soaring Eagle Casino & Resort — Michigan's largest gaming floor, whose concert series alone draws 13,000+ per show. Student and destination demand supplement the resident base.
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 | 24,930 | 36,964 |
| Households | 0 | 9,352 | 14,462 |
| Pop. density (/sq mi) | 0 | 882 | 471 |
| Avg HH income | — | $58,141 | $65,854 |
| Poverty rate | — | 40.0% | 30.8% |
| Bachelor's+ | — | 43.9% | 42.5% |
| Median home value | — | $162,937 | $168,839 |
| Median rent | — | $879 | $917 |
| Median age | — | 25 | 29 |
| Owner-occupied | — | 29.8% | 41.1% |
This Marathon-branded gas station and convenience store at 2025 E Remus Rd, Mount Pleasant, MI carries a location grade of 55 out of 100, reflecting average fundamentals for a net lease fuel asset. The 1,571-square-foot building sits on 1.6 acres with 1.4 years of remaining term under a GPM Investments / ARKO Corp. guarantee, placing this squarely in short-term rollover territory. Investors should underwrite this primarily as a near-term renewal event rather than a stabilized income play.
The 3-mile trade area holds roughly 24,930 residents at a modest density of 882 per square mile, with average household income of $58,141 and a 40.0% poverty rate that ranks as a significant credit concern for discretionary spending. Owner occupancy at 29.8% and median home values of $162,937 signal a predominantly transient, renter-heavy population consistent with the university-town profile of Mount Pleasant. The 5-mile population of 36,964 provides a broader but still economically constrained catchment.
Isabella County is classified as nonmetro urban with modest population growth of 0.9% from 2020 to 2024, reaching 65,072 residents. Unemployment sits at 5.1%, modestly above national averages, and the local economy of 1,411 establishments and 25,410 employees reflects limited economic diversification. Central Michigan University drives significant daytime population but also suppresses income metrics and inflates the poverty rate, creating a cyclical and enrollment-dependent demand base.
Traffic at 9,672 vehicles per day is below the threshold typically associated with high-performing fuel locations, and a Walk Score of 24 confirms near-total auto dependency. Three competing gas stations within one mile introduce meaningful price competition, and only five nearby restaurants and six retail destinations within a mile limit the cross-traffic opportunity for convenience sales. Highway proximity at 0.03 miles is a positive offset but insufficient to fully compensate for the thin traffic count.
FEMA Flood Zone X indicates minimal environmental exposure, which is a clean baseline for a fuel site. Crime data is unavailable at the state level for this report, limiting a full risk assessment. The 13 EV charging stations within five miles represent an early but directional threat to long-term fuel volume assumptions.
With only 1.4 years of remaining term expiring December 31, 2027, a buyer acquires this asset with an immediate renewal decision horizon and a June 2027 notice deadline for the sole remaining renewal option. Rent at expiration is not disclosed, leaving mark-to-market risk unquantified. 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 quality, which partially offsets the short duration. Buyers should price in meaningful re-leasing or vacancy risk at rollover.
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