GPM Disposition PortfolioLocation Intelligence & Lease Summary
GPM Disposition PortfolioLocation Intelligence & Lease Summary
226 Broad St, Sumter, SC
| Tenant / d/b/a | Youngs |
| Guarantor | Fas Mart (GPM Investments) |
| Lease commencement | Mar 27, 2008 |
| Lease expiration | Mar 31, 2029 |
| Remaining term | 2.8 yrs |
| Lease term (months) | — |
| Annual base rent | $53,686 |
| Base rent $/SF | $21.06 |
| Rent at expiration | — |
| Expiration rent $/SF | — |
| Renewal options | 1/2 |
| Notice date | Sep 03, 2028 |
| Year built | 1988 |
| Building SF | 2,549 |
| Land area (acres) | 0.92 |
| Pre G&A CFC | -0.11x (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 | 3,522 | 22,995 | 47,051 |
| Households | 1,635 | 9,157 | 18,420 |
| Pop. density (/sq mi) | 1,121 | 813 | 599 |
| Avg HH income | $56,713 | $60,641 | $71,041 |
| Poverty rate | 8.6% | 23.1% | 17.5% |
| Bachelor's+ | 25.6% | 24.1% | 25.3% |
| Median home value | $115,300 | $122,850 | $148,254 |
| Median rent | $788 | $979 | $1,087 |
| Median age | 43 | 40 | 39 |
| Owner-occupied | 60.2% | 51.9% | 64.7% |
This Fas Mart-branded convenience store and gas station at 226 Broad St, Sumter, SC offers a short-duration net lease backed by GPM Investments, a subsidiary of publicly traded ARKO Corp., the sixth-largest U.S. convenience-store operator. With only 2.8 years of remaining term, a modest annual rent of $53,686, and a location graded Average at 45 out of 100, the asset presents limited upside and meaningful rollover exposure. The investment case rests almost entirely on the credit quality of the guarantor and a buyer's willingness to underwrite re-lease or redevelopment risk at expiration.
The immediate one-mile trade area is thin, with just 3,522 residents and average household income of $56,713. The three-mile ring expands to nearly 23,000 people but carries a 23.1% poverty rate and a median home value of only $122,850, signaling a lower-income, price-sensitive consumer base. Income metrics improve modestly at five miles, but the demographic profile does not support premium fuel or in-store margin assumptions.
Sumter County is a sub-250K metro that lost population between 2020 and 2024, declining from 105,493 to 104,776, with unemployment at 5.2%, above most healthy suburban benchmarks. The broader retail environment is modest, with 374 retail establishments and 151 food-service locations across the county. This is a stable but slow-growth market offering little organic tailwind for a convenience-store operator.
Site-level traffic is a significant concern, with AADT of only 750 vehicles per day, an exceptionally low count for a fuel-dependent format. The Walk Score of 46 confirms car dependency, yet the site faces 12 competing gas stations within one mile, creating intense localized competition. Daytime employment density within three miles of 22,100 workers provides the most credible demand driver on the site.
1. With 10 EV charging stations already operating within five miles, long-term fuel volume trends at this low-traffic site face structural headwinds. 2. The 3-mile poverty rate of 23.1% and low median home value of $122,850 constrain inside-store sales growth and limit alternative-use demand at lease expiration. 3. Twelve competing gas stations within one mile create acute price competition, threatening the tenant's ability or willingness to renew at or above current rent levels.
The lease runs only through March 2029, leaving a buyer with immediate rollover risk and a sole renewal notice deadline of September 2028. Current rent of $53,686 annually equates to $21.06 per square foot on a 1988-vintage 2,549-square-foot building, with no rent-at-expiration data provided to underwrite rent growth. The GPM Investments guaranty, backed by ARKO Corp.'s scale and Nasdaq-listed transparency, is the primary credit support, but ARKO has faced margin pressure across its portfolio, and this low-traffic location would likely rank as non-core to any rationalization effort.
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