GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
101 Highway 210, Holly Ridge, NC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2031 |
| Remaining term | 4.5 yrs |
| Lease term (months) | — |
| Annual base rent | $250,127 |
| Base rent $/SF | $73.76 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2030 |
| Year built | 2000 |
| Building SF | 3,391 |
| Land area (acres) | 0.88 |
| Pre G&A CFC | 2.90x (2024) |
| Lease status | Active |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 0 | 18,254 |
| Households | 0 | 0 | 7,461 |
| Pop. density (/sq mi) | 0 | 0 | 232 |
| Avg HH income | — | — | $108,624 |
| Poverty rate | — | — | 5.2% |
| Bachelor's+ | — | — | 39.2% |
| Median home value | — | — | $296,464 |
| Median rent | — | — | $1,442 |
| Median age | — | — | 32 |
| Owner-occupied | — | — | 77.7% |
This Scotchman/Fas Mart convenience store at 101 Highway 210 in Holly Ridge, NC is a 3,391 SF net lease asset on 0.88 acres with 4.5 years of remaining term and a corporate guaranty from GPM Investments, LLC, a subsidiary of Nasdaq-listed ARKO Corp. The site scores 54/100 (Average) on location grade, reflecting adequate traffic exposure but thin proximate population density. The investment thesis rests almost entirely on lease credit quality and near-term income certainty rather than location fundamentals.
The immediate 1- and 3-mile trade areas return zero recorded population, indicating the site sits in a rural or transitional buffer zone with negligible captive residential demand. Meaningful density only emerges at the 5-mile ring, where 18,254 residents carry an above-average household income of $108,624 and a low poverty rate of 5.2%. The demographic base is thin by convenience retail standards but is supported by the broader Onslow County military-adjacent economy.
Onslow County is a Metro sub-250K market that grew 3.8% from 2020 to 2024, reaching roughly 213,000 residents, with an unemployment rate of 3.5% indicating labor market stability largely anchored by Camp Lejeune. The county supports 3,070 establishments and 37,904 employees, providing a serviceable economic floor. Growth trends are modest but consistent, reducing macro-level income disruption risk over the remaining lease term.
AADT of 17,000 vehicles per day and a 0.04-mile proximity to the nearest major road provide workable traffic exposure for a highway-oriented fuel stop. However, the Walk Score of 3 and absence of nearby restaurants or dense retail within one mile confirm this is a purely auto-dependent, drive-through trade area. One direct competitor within half a mile warrants monitoring but does not represent an oversaturated competitive set.
FEMA Zone X designation confirms minimal flood hazard, which is a meaningful positive given coastal North Carolina exposure. State-level crime data is unavailable, limiting a full risk profile. EV infrastructure remains nascent at one charging station within five miles, posing a long-duration structural risk to fuel volume.
With 4.5 years of term remaining and a single renewal option, a buyer acquires a defined income stream expiring March 2031, with rollover risk arriving relatively soon in a net lease context. Rent at expiration is not disclosed, and the absence of escalation transparency limits yield-to-maturity precision. The guaranty from GPM Investments, backed by ARKO Corp. with approximately 3,500 locations across 34 states, provides institutional-grade credit that materially offsets the modest location quality. A buyer is effectively underwriting ARKO's covenant, not the real estate, which warrants pricing discipline at the back end given limited renewal visibility.
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