Chinatown Gas Stations
Chinatown is a neighborhood that is located in Boston that is densely populated, which makes it a great area to invest in a Service station. There is plenty of public transportation in the area, but many of the nearly 4,500 residents who live here drive as well. Interstate 93 and the Massachusetts Turnpike are both located along the outskirts of the area.
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Purchasing and Leasing Gas Stations
When you consider investing in a service station in this area of Massachusetts, you have the option of purchasing the property or leasing it. Both have their advantages, so let's consider each option:
- Purchasing – When you own your own service station, you are able to manage the daily operations of the station the way that you want. This means that you will be able to choose your supplier, your promotions, and any additions that you want to consider adding to the property. If you find that managing a repair shop or a convenience store is too much work, you can always rent these parts of your station out to an interested party. You can even add a carwash to your station if you'd like.
- Leasing – An investment of this type requires a lot of commitment, but if you decide to lease the station, it takes some of the stress off of the investment. You will not need a large down payment to get started, and when repairs need to be done with the property, the owner will be responsible for them, which means that you can focus your time and money on the business itself. In addition, if the property is not as profitable as you'd like, you can easily break your commitment because a commercial lease is typically only about five to 10 years.
Buying a Service Station with a Convenience Store
When you purchase a service station, you are going to want to consider opportunities that have a convenience store on the property as well. This is a great addition to any service station, and it can help you make more of a profit. In general, gas is not that profitable. In fact, you will typically only be able to keep one to two percent of each sale, so if you are able to get the customers into the store, more sales mean more profit.
Since this is an area that is located right off of two major highways, you are going to want to have a variety of snacks and drinks available for customers who are traveling. Also, make sure to keep fresh coffee in the store so that local customers can get their daily dose of caffeine each morning. In addition, having a grill where you can prepare sandwiches for breakfast or lunch can ensure that travelers stop here instead of somewhere else. Having an indoor bathroom will also bring motorists who simply need gas inside where more purchases can be made.
Reasons to Consider this Area for Your Investment
In this area of Boston, there are two official Chinatown neighborhoods that you can consider for your investment:
- Emerson College / Harrison Avenue – This is an area that is located close to I-90. This is the gateway to all points west in the state, so it is a great location for an investment, especially if you want to draw in customers who may be traveling from Boston as well.
- Atlantic Avenue / Purchase Street - This is an area that is relatively close to downtown Boston, so there is going to be a lot of traffic, which could be beneficial for your investment. Both I-90 and I-93 cut through this coastal area.
With its prime location in the heart of downtown Boston, Chinatown is a great place for investors to find exciting commercial real estate opportunities. One area that people often overlook is fuel, and gas stations in the neighborhood do a brisk trade. If you would like to buy or lease a station in this eclectic downtown neighborhood, you will need access to timely, accurate real estate information. Get that and more by signing up with Boston City Properties. You can then search our listings to check current availability and even get a referral from us for a skilled commercial real estate expert in this neighborhood.
About the Neighborhood
Because this is such a compact neighborhood, it is very densely populated. Its population was most recently estimated to be around 5,900 people, but thousands more flood into and out of the area every day for business and entertainment. Covered by the 02111 zip code, this neighborhood is close to many prime services and attractions, including Boston Common, Downtown Crossing, the Theatre District and the South End. Boston City Properties has commercial real estate agents who cover this neighborhood, and we can refer you to one whenever you’re ready.
What to Look For
Do you know how to identify profitable fuel stations? Our commercial real estate experts do. In the meantime, here’s a quick rundown of the basics:
- Appearance – Just because fuel is an everyday necessity doesn’t mean that you are guaranteed business. The station itself should be as aesthetically pleasing as possible. The goal is to make people feel welcome and comfortable, so look for a station with a roomy, brightly lit market area, easy-to-read signs and sturdy, well-designed canopies over the pumps.
- Size – The right balance of pumps and retail square footage facilitates steady growth and strong sales, so buy the largest station with the highest number of pumps that you can. You may not think that you will use all of that space, but it will give you the opportunity to expand and branch out in the future.
- Location – Don’t get tricked into investing in a station that’s off the beaten path. It should be located on a busy street or intersection, and it should provide easy in-and-out access for motorists. If possible, buy or lease a station that is a decent distance away from competing stations. Finding something like this in this neighborhood is a tall order, but the agent that we refer to you is sure to make a big difference.
Considerations to Make
By signing up on this page, you can start browsing listings for fuel stations that are currently for sale or lease in this bustling downtown neighborhood. Familiarize yourself with some basic considerations to more easily find a profitable option:
- Environmental issues – If you are going to buy and own the station, have an environmental survey performed. It will cost you some money, but it will be a drop in the bucket compared with the fines that you may face by inheriting an underlying issue that runs afoul of local, state or federal environmental regulations.
- Financial records – What kind of track record does the station have in terms of sales and profitability? The seller should be forthcoming with at least two years of financial documents. Pass them along to an experienced CPA or accountant. They can analyze the records and let you know whether you’re likely to make good money or not.
- What’s included? – Never assume that a station that is listed for sale includes everything that you need to open for business on the first day. Many times, people sell stations when they face huge repair bills or the like, so perform your due diligence. If the property includes extras, like a car wash, confirm that they are included too.
- Lease and financing options – Don’t get ahead of yourself when looking to lease or buy a fuel station in this Boston neighborhood. Confirm that you will qualify for the financing that you need if you are buying, and check out the lease terms early on if you’re going to lease. Commercial properties like these sometimes carry legacy leases whose terms carry over from one owner to the next.
How Boston City Properties Can Help
Finding gas stations for sale or lease in Boston’s vibrant Chinatown neighborhood can be a tall order. The neighborhood is so small that there are only so many stations on the market at any time. Not all of them are viable options from an investment standpoint, either, so it is essential to have access to in-depth information. Get that now by signing up to search Boston City Properties’ commercial real estate listings. Later, contact us to get a referral to a commercial real estate agent in this neighborhood. Give us a call today for more information.
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gas stations