GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
3520 Isabella St, Midland, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Jun 30, 2029 |
| Remaining term | 3.0 yrs |
| Lease term (months) | — |
| Annual base rent | $158,678 |
| Base rent $/SF | $32.08 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Dec 02, 2028 |
| Year built | 1985 |
| Building SF | 4,947 |
| Land area (acres) | 1.46 |
| Pre G&A CFC | 2.26x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 18,883 | 46,813 |
| Households | 0 | 7,658 | 19,506 |
| Pop. density (/sq mi) | 0 | 668 | 596 |
| Avg HH income | — | $119,778 | $103,643 |
| Poverty rate | — | 10.4% | 10.3% |
| Bachelor's+ | — | 40.4% | 44.3% |
| Median home value | — | $210,522 | $191,072 |
| Median rent | — | $910 | $1,067 |
| Median age | — | 37 | 38 |
| Owner-occupied | — | 74.1% | 70.4% |
This Marathon/Fas Mart convenience store at 3520 Isabella St, Midland, MI is a 4,947 SF gas station on 1.46 acres rated Excellent (74/100) by location scoring. The asset offers roughly 3.0 years of remaining lease term with GPM Investments (ARKO Corp.) as guarantor, generating $158,678 in annual base rent at $32.08/SF. Near-term lease rollover and modest traffic counts are the primary investor considerations against an otherwise stable Midland market backdrop.
The immediately surrounding 1-mile radius shows no reported residential population, indicating a primarily commercial or transitional land-use pattern at the site itself. The 3-mile trade area contains 18,883 residents with a strong average household income of $119,778, low poverty at 10.4%, and high homeownership at 74.1%. The 5-mile population of 46,813 with average household income of $103,643 supports a broad, relatively affluent suburban customer base.
Midland County is a small Metro market under 250,000 population with stable but modest dynamics, growing just 0.6% from 2020 to 2024. The local economy supports 34,863 employees across 1,816 establishments, with 150 food service operators indicating reasonable convenience retail demand. An unemployment rate of 4.7% is broadly in line with national averages and does not suggest meaningful economic stress.
The site sits 0.02 miles from a major road corridor with 15,815 vehicles per day, providing adequate but not exceptional traffic exposure for a gas station. Walk Score of 17 confirms an auto-dependent location, which is appropriate for the use but limits alternative retail demand. Only one competing gas station within one mile reduces direct fuel competition, a notable site advantage.
Environmental and natural hazard exposure is minimal, with FEMA Zone X designation confirming negligible flood risk. Crime rate data was not available for state-level benchmarking, introducing a modest due diligence gap. With seven EV charging stations within five miles, early-stage electrification trends are present and warrant monitoring over a longer hold period.
With only 3.0 years remaining before the June 2029 expiration and a renewal notice deadline of December 2028, a buyer assumes meaningful near-term rollover risk. There is no disclosed rent at expiration or escalation data, making forward cash flow projection dependent on renewal negotiation outcomes. GPM Investments, backed by publicly traded ARKO Corp., the sixth-largest U.S. convenience operator with roughly 3,500 locations, provides institutional-grade credit support, partially mitigating that rollover concern. Buyers should price the single renewal option conservatively given the short runway.
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