GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
2482 Tittabawassee Rd, Saginaw, MI
| Tenant / d/b/a | Marathon |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Oct 09, 2007 |
| Lease expiration | Mar 31, 2027 |
| Remaining term | 0.6 yrs |
| Lease term (months) | — |
| Annual base rent | $95,207 |
| Base rent $/SF | $30.21 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 02, 2026 |
| Year built | 1980 |
| Building SF | 3,152 |
| Land area (acres) | 0.66 |
| Pre G&A CFC | 3.43x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 27,348 | 78,894 |
| Households | 0 | 10,902 | 32,483 |
| Pop. density (/sq mi) | 0 | 967 | 1,005 |
| Avg HH income | — | $74,439 | $76,409 |
| Poverty rate | — | 27.5% | 23.1% |
| Bachelor's+ | — | 24.3% | 24.9% |
| Median home value | — | $126,273 | $118,006 |
| Median rent | — | $820 | $935 |
| Median age | — | 35 | 38 |
| Owner-occupied | — | 62.6% | 66.8% |
This Marathon/Fas Mart convenience store at 2482 Tittabawassee Rd in Saginaw, Michigan earns an Average location grade of 53/100, reflecting modest but real trade-area demand constrained by a shrinking, high-poverty market. With only 0.6 years of lease term remaining and a single renewal option outstanding, the investment thesis pivots almost entirely on rollover execution and the credit quality of the guarantor rather than location fundamentals.
The 3-mile ring supports 27,348 residents at a modest $74,439 average household income, but a 27.5% poverty rate and median home value of $126,273 signal a cost-sensitive consumer base with limited discretionary spending. Population at the county level has declined 1.1% from 2020 to 2024, and the 5-mile poverty rate of 23.1% reinforces a structurally challenged demand environment.
Saginaw County sits in a smaller metro below 250,000 population with a 6.2% unemployment rate that exceeds most national benchmarks, indicating ongoing labor market stress. The broader retail ecosystem of 754 establishments and 375 food service operators reflects a functional but not dynamic trade area with limited upside rent pressure.
Site-level traffic of 3,514 AADT is low for a gas station and convenience store format that typically benefits from 15,000-plus daily counts. Five competing gas stations within one mile intensify pressure on fuel margin and customer capture, and a Walk Score of 37 confirms full car dependency with no meaningful pedestrian or transit demand.
Minimal FEMA flood exposure in Zone X removes a material physical risk from underwriting. State-level crime data was unavailable for this analysis, which limits full risk stratification. No dollar or discount store competition within 0.5 miles is a modest positive for inside-store traffic, though 19 EV charging stations within 5 miles signals early but growing fuel-demand substitution risk.
The lease expires March 31, 2027, leaving approximately 0.6 years of contractual income at $95,207 annually, creating immediate rollover risk that a buyer must underwrite on day one. Rent at expiration and the renewal rent step are not disclosed, creating pricing uncertainty. One of two renewal options remains, with a notice deadline of September 2, 2026, meaning a buyer closing today must act on that option almost immediately. GPM Investments, a subsidiary of Nasdaq-listed ARKO Corp., the sixth-largest U.S. c-store operator with roughly 3,500 locations, provides institutional-grade credit backing, which partially offsets the short duration risk. The combination of near-term rollover and an above-replacement-cost rent of $30.21 per square foot for a 1980-vintage building warrants a meaningful risk premium in pricing.
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