Fenway Gas Stations

Fenway, which is an area in Boston that is 1.24 square miles is home to over 40,000 residents and Fenway Park, which is a major attraction for this area. In fact, if you decide to invest in this area, you may wish to consider a location that is between the major highways in the area and Fenway Park so that visiting motorists stop by your station to fill up their tank and grab snacks and drinks for the trip home.

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gas stations

Purchasing and Leasing Gas Stations

As with any type of property, there are going to be decisions that you need to make before you invest. With a service station, you will want to consider leasing and purchasing the property, especially if you are unfamiliar with the area until you know a bit about the community and the number of customers that you will get on a daily basis. Here's a breakdown of the benefits of each option:

Leasing

• You can have less credit and a smaller deposit to initiate the investment.
• You will not be responsible for the taxes on the property.
• Major repairs that need to be completed will not come out of your pocket.
• If the property is not as profitable as you would like, you can easily break your lease and change locations.
• You can get an idea of what the customers in the neighborhood need before committing.

Purchasing

• You can choose which promotions you use at your location.
• You can select the gas supplier that your location uses.
• You have the final say about what happens at the station, which means that you can expand if you choose to do so.
• If you expand the property, you will have the option to run the expansion yourself or rent it to an interested party.
• You can decide which days and hours your station will be open.

Buying a Service Station with a Convenience Store

This is an area that is densely populated with college students, which means that you are going to want not only gas for commuters and locals to fill their tanks, but you are going to want to have a convenience store as well so that you can make even more of a profit from this investment. Most of the locals who live in the area will want coffee in the morning, maybe a pastry or something to break their fast, and a newspaper to keep up with the daily news. For this reason, you may want to have a grill so that you can appease the breakfast and lunch crowd with something warm.

In addition, there will most likely be a lot of commuters in the area, so having an indoor restroom that they can use will most likely lead to more purchases. This is especially true when there is a game or students are moving into their dorms for the year. Also, make sure that you have a wide selection of snacks and drinks, so that those making a pit stop may find something that they want for the road.

Reasons to Consider this Area for Your Investment

Along the northern part of this community, you will find the Massachusetts Turnpike as well as a few other state routes that provide access to the area. In the northeast corner of the area is the baseball park that the Red Sox consider home, which will bring a lot of traffic to the area, making it a great place to invest, especially in a gas station. There are four neighborhoods in total to consider in the area, which are:

• East
• West
• Kenmore Square
• Audubon Circle

If you are a property investor looking for commercial property that generates consistent profits regardless of what the economy is doing, buying or leasing a gas station in Boston’s thriving Fenway neighborhood may be the way to go. The right station can produce consistent profits while offering many opportunities for expansion. However, competition for these stations is fierce; it is essential to have access to timely, accurate information to snag one. Get that and much more by signing up with Boston City Properties. You can then search our online database of MA commercial real estate listings to check current availability in this neighborhood.

About the Neighborhood

Known also as Fenway-Kenmore, this neighborhood is ideally situated close to downtown. At the same time, it is largely residential in makeup, so there are plenty of commuters with cars. At the time of the 2010 U.S. Census, its population hovered around 40,900 people, and thousands more pour in and out of the area every day. Bordered by the South End and Back Bay, it covers an area of just 1.24 square miles, so opportunities for buying or leasing fuel stations tend to be limited.

What to Look For

By getting a referral to a commercial real estate agent in this neighborhood, you won’t have to do as much research to find what you need. Still, it pays to have a basic idea; here are some of the things to look for:

• Size – Commercial properties are necessarily compact in the big city, but you should try to acquire the largest station that you can afford to buy or lease. It should have plenty of gas pumps to minimize the risk of long, aggravating lines. More importantly, it should have decent amounts of retail space so you can sell a decent variety of products.
• Location – The agent that we refer you to can point out the busiest roads and intersections in this neighborhood, which is where you will find the most promising fuel stations for investment purposes. At the same time, the ideal station won’t be too close to competing stations.
• Appearance – If you only have the budget for a fixer-upper, make sure that you have the money to fix it up right away. Fuel stations sell more than gas, but you are unlikely to make very strong sales if the premises aren’t welcoming and comfortable. At the very least, make sure that the market area is clean and brightly lit, and have easy-to-read signs outside.

Considerations to Make

Purchasing or leasing a fuel station in the big city is very complicated. Your agent will help to guide you through the process. In the meantime, here are a few examples of the considerations that must be made to identify the most profitable options:

• What’s included? – All too often, people try to unload fuel stations after learning that major repairs are necessary. Make sure that the station has everything that you’ll need to open for business quickly. The last thing that you need is to have to invest in new gas pumps or other expensive equipment right off the bat.
• Environmental issues – Fuel stations that fail to adhere to local, state and federal environmental regulations face stiff fees and other penalties. Avoid inadvertently walking into a money pit by having a thorough environmental survey performed. If any underlying issues are found, you will know that you have dodged a bullet.
• Financial records – Just because the current owner insists that their fuel station does a brisk trade doesn’t mean that it’s true. You need hard evidence of this, and the only way to get it is by obtaining financial records for the location. Ask for at least two years’ worth, if possible, to get a strong understanding for how the station performs. Have an experienced accountant look it all over before committing to anything.
• Financing and lease options – Finally, our search tool is so powerful that you’re sure to have a list of promising options in no time. Avoid getting ahead of yourself by lining up financing beforehand. If you’re going to lease instead, read listings carefully. Look for a property that isn’t attached to an ironclad legacy lease, or you may struggle to get the terms that you need.

How Boston City Properties Can Help

Leasing or buying a gas station in Fenway involves a lot of time and effort. You can cut out a lot of that by signing up with Boston City Properties. As soon as you do, you can start searching our vast online database of listings to check current availability for fuel stations in this neighborhood. When the time is right, contact us for a referral to a commercial real estate agent who specializes in these types of properties in this part of the city. For more info, call Boston City Properties today.

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gas stations