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 | 4.6 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 and gas station in Shallotte, NC offers a short-to-medium remaining lease term of 4.6 years backed by GPM Investments, LLC, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. c-store operator. The site scores an average 55 out of 100 on location grade, reflecting modest traffic counts and thin immediate-area population density. The deal suits income-focused buyers comfortable with near-term rollover risk in a growing coastal Brunswick County market.
The immediate one-mile trade area reports negligible residential population, placing nearly all demand reliance on the three- and five-mile rings. The three-mile ring shows a relatively affluent and stable base with average household income of $105,591, median home values of $293,700, and a low poverty rate of 4.7%. The five-mile population of 11,366 at a density of only 145 per square mile underscores a rural-suburban character with limited captive demand.
Brunswick County is among North Carolina's fastest-growing counties, expanding 20.9 percent from 138,167 to 167,112 residents between 2020 and 2024, driven by coastal in-migration from the Wilmington metro. A 3.8 percent unemployment rate and 31,330 county employees indicate a functioning local economy, though the retail base of 491 establishments and 320 food service operators signals moderate, not deep, commercial density. Population tailwinds support long-term site viability even as near-term trade area density remains constrained.
The site sits 0.01 miles from the nearest major road with an AADT of 13,500 vehicles per day, providing adequate but not exceptional traffic exposure for a highway-oriented fuel stop. A Walk Score of 32 confirms full car dependency, consistent with the format, but 20 restaurants and 12 retail destinations within one mile provide modest co-tenancy support. Four competing gas stations within one mile represent a meaningful competitive concentration for a site of this traffic volume.
The property sits in FEMA Flood Zone X, presenting minimal flood hazard exposure. No dollar or discount store competitors within 0.5 miles reduces one category of direct convenience retail competition. State-level crime data was unavailable for this analysis, which limits a complete risk assessment.
With 4.6 years of remaining term and a single renewal option requiring notice by September 2030, a buyer faces rollover risk within a near-term investment horizon. Current rent of $170,819 annually at $50.23 per square foot provides a defined income stream, though no rent-at-expiration figure was provided, making yield trajectory uncertain. GPM Investments as guarantor, backed by ARKO Corp.'s scale of roughly 3,500 sites and public SEC-reporting status, provides institutional-grade credit support that partially offsets the lease duration concern.
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