GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
8300 Richlands Hwy, Richlands, NC
| Tenant / d/b/a | Scotchman |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2028 |
| Remaining term | 1.6 yrs |
| Lease term (months) | — |
| Annual base rent | $130,554 |
| Base rent $/SF | $52.98 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 04, 2027 |
| Year built | 1983 |
| Building SF | 2,464 |
| Land area (acres) | 1.66 |
| Pre G&A CFC | 1.36x (2024) |
| Lease status | SUBLEASED |
| Operating tenant | 8300 Richlands Hwy |
| Metric | 1 mi | 3 mi | 5 mi |
|---|---|---|---|
| Population | 0 | 5,642 | 14,586 |
| Households | 0 | 1,788 | 4,699 |
| Pop. density (/sq mi) | 0 | 200 | 186 |
| Avg HH income | — | $95,076 | $80,243 |
| Poverty rate | — | 11.9% | 11.8% |
| Bachelor's+ | — | 36.9% | 25.1% |
| Median home value | — | $231,300 | $210,506 |
| Median rent | — | $1,722 | $1,359 |
| Median age | — | 26 | 28 |
| Owner-occupied | — | 79.4% | 76.0% |
This Scotchman/Fas Mart convenience store in Richlands, NC offers 1.6 years of remaining lease term secured by GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience-store operator. The site earns an Average location grade of 51/100, reflecting modest trade-area density and a rural market setting. Near-term lease rollover dominates the risk-return calculus for any prospective buyer.
The immediate one-mile population is effectively zero, indicating a highway-oriented, pass-through customer base rather than a residential demand generator. The three-mile ring shows 5,642 residents with average household income of $95,076 and a 79.4% owner-occupancy rate, suggesting a stable if thinly populated surrounding community. Five-mile population of 14,586 at a density of 186 persons per square mile confirms this as a low-density, rural-edge market.
Onslow County is a legitimate metro county anchored by Camp Lejeune, with population growing 3.8% from 2020 to 2024 and unemployment at a tight 3.5%. The county supports 3,070 establishments and nearly 38,000 employees, providing a modest but functional economic base. Military-driven demand provides some insulation against cyclical softness, though it does not meaningfully elevate this specific corridor's retail fundamentals.
The site sits 0.01 miles from the nearest major road with 17,500 vehicles per day, which is adequate but not strong for a fuel-and-convenience format. Walk Score of 41 confirms full car dependency, consistent with the format, and the absence of competing gas stations within a half mile provides short-term capture advantage. Eighteen nearby restaurants and nine retail tenants within one mile suggest a functional if limited service node.
Flood risk is low, with the property located in FEMA Zone X, posing minimal environmental liability. State-level crime statistics were not available for independent verification. The 1983 vintage building introduces potential capital expenditure exposure that a buyer must underwrite independently of lease income.
With only 1.6 years of term remaining, this asset trades closer to vacant land value than stabilized income, and the September 2027 renewal notice deadline arrives quickly. The lease provides one renewal option, but the rent at expiration and renewal rent are undisclosed, creating meaningful re-pricing uncertainty. GPM Investments/ARKO Corp. is a creditworthy, SEC-reporting guarantor with roughly 3,500 locations, which adds covenant quality, but that credit matters less when term is this short. Buyers should underwrite aggressively for either a lease extension negotiation or operator replacement.
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