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 | 4.6 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 an operating Fas Mart convenience store and gas station in Sumter, SC, leased to GPM Investments through March 2031 with 4.6 years of remaining term. The site scores 55 out of 100 on location grade, reflecting a functional but unremarkable suburban trade area. The investment case rests primarily on the credit quality of the guarantor rather than exceptional real estate fundamentals.
The immediate one-mile population of 3,557 carries a 47.3% poverty rate, which is a meaningful demand constraint for fuel and convenience spending. Expanding to three miles, population reaches nearly 23,000 with average household income of $60,641, offering modest but workable consumer support. Income and poverty metrics across all rings remain below national benchmarks and limit the upside case for this location.
Sumter County is a small metro market that has experienced modest population decline, falling from 105,493 in 2020 to 104,776 in 2024. Unemployment at 5.2% runs above the national average, and the local retail base of 374 establishments indicates limited economic density. These conditions suggest a stable but low-growth operating environment with little expectation of meaningful rent appreciation.
Traffic of 14,400 vehicles per day is adequate for a convenience-store format but not exceptional among net lease gas station comps. The site sits 0.05 miles from a major road, providing solid access, though a Walk Score of 32 confirms full car dependency. Twelve competing gas stations within one mile represents a notably dense competitive set that pressures volume and margin sustainability.
The property sits in FEMA Flood Zone X, representing minimal flood exposure and no meaningful environmental or insurance concern on that front. Twelve competing fuel sites within a one-mile radius constitute the most tangible operational risk for this location. Poverty at 47.3% within one mile could constrain same-store sales performance and dampen any re-tenanting demand if the space were to go dark.
With 4.6 years of term remaining and one renewal option available, a buyer faces a near-to-medium-term rollover decision. Annual base rent of $90,900 is set at $31.15 per square foot with no stated rent at expiration, leaving escalation trajectory unclear. The guarantor, GPM Investments as a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. convenience-store operator, provides meaningful credit support that partially offsets the thin remaining term and soft trade area.
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