GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
976 Miller Rd, Sumter, SC
| Tenant / d/b/a | Youngs |
| 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 | $90,900 |
| Base rent $/SF | $31.15 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 1994 |
| Building SF | 2,918 |
| Land area (acres) | 0.67 |
| Pre G&A CFC | 1.20x (2024) |
| Lease status | Active |
Sumter is home to Shaw Air Force Base (Air Force's largest combat F-16 wing; ~8,200 active-duty plus families), a major military demand 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 | 3,557 | 22,995 | 47,441 |
| Households | 1,066 | 9,157 | 18,736 |
| Pop. density (/sq mi) | 1,132 | 813 | 604 |
| Avg HH income | $52,163 | $60,641 | $69,684 |
| Poverty rate | 47.3% | 23.1% | 17.6% |
| Bachelor's+ | 10.1% | 24.1% | 25.6% |
| Median home value | $92,800 | $122,850 | $148,265 |
| Median rent | $641 | $979 | $1,046 |
| Median age | 34 | 40 | 38 |
| Owner-occupied | 36.2% | 51.9% | 59.8% |
976 Miller Rd is a 2,918 SF Fas Mart convenience store in Sumter, SC, operated by GPM Investments under a lease running through March 2031 with 4.8 years of remaining term. The site earns an average location grade of 55/100, reflecting modest traffic, a high-poverty immediate trade area, and a competitive fuel landscape. The investment case rests primarily on the credit quality of the guarantor rather than location fundamentals.
The 1-mile population of 3,557 carries a 47.3% poverty rate and average household income of $52,163, well below national norms and indicative of a value-oriented customer base with limited discretionary spending. The 3-mile ring broadens to 22,995 residents with average household income rising to $60,641, though median home values of $122,850 and median rent of $979 reflect a modest economic profile. Population in Sumter County declined 0.7% from 2020 to 2024, signaling no near-term demographic tailwind.
Sumter is a sub-250K metro with 5.2% unemployment and a limited commercial base of 1,821 total establishments. AADT of 14,400 vehicles per day is adequate for a convenience format but not exceptional, and the site sits just 0.05 miles from a major road, providing reasonable visibility and access. The presence of 12 competing gas stations within one mile represents a structurally saturated fuel market for this trade area.
The site is car-dependent with a Walk Score of 32, consistent with a suburban strip location reliant on drive-by capture. Nearby density of 20 restaurants and 20 retail outlets within one mile provides some co-tenancy support, but the absence of Dollar or discount stores within 0.5 miles limits cross-shopping traffic. Daytime employment of 21,675 within three miles offers a modest convenience demand driver during peak hours.
The property sits in FEMA Flood Zone X, presenting minimal environmental exposure. No material physical site risks are flagged. Competitive and demographic pressures, not physical hazards, constitute the primary concerns here.
With 4.8 years of remaining term and a single renewal option, a buyer faces rollover risk beginning in late 2030, when the tenant's notice obligation triggers. Current rent of $90,900 annually ($31.15/SF) provides no visibility into rent at expiration or renewal terms, which limits underwriting clarity on long-term cash flow. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides investment-grade-adjacent credit that partially offsets the weak location fundamentals. Buyers should price this as a short-duration credit play, not a location-driven hold.
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