Harvard Gas Stations

Harvard, which is a small rural town in Massachusetts, is located in Worcester County. It has a population of about 6,500 residents, and because it is only about 25 miles from Boston, it makes a great location for individuals looking to invest in a gas station in the area to consider. This town is also very close to Worcester, which means that there will be plenty of through traffic to stop at your service station, especially if you find a great location.

Click Here to Search

gas stations

Purchasing and Leasing Gas Stations

Many investors choose to lease a property of this type before making an offer because it allows them to see if the location is going to be profitable. When you lease property, you have the option of a short-term lease or a longer one so that you can get out at any time. You will also not have to worry about doing maintenance or keeping the station up to par because that responsibility will fall on the owner.

Owning the service station gives you a lot more freedom when it comes to what you can do with the property, but you will be locked into the investment until another buyer comes along or you find a better investment to swap with a 1031 exchange. The biggest benefit to owning the station is that you will be able to upgrade and expand on the services that you offer at any time, which means that you can easily improve your cash flow and make the investment more profitable.

In addition, once you have these additional services available, you can decide to manage them yourself or opt to rent that portion of your business out to someone with potential who wants to run it. This is a great consideration for a repair shop, especially if you are not a car expert. When you purchase the business, all of the repairs fall to you, so make sure that there is nothing wrong with the canopy over the gas pumps or the tanks that are under the ground because these can be costly repairs to make.

Opportunities for Expansion

After your initial investment, you may find that you want to expand on the services that your location offers so that you can increase your profits. There are a lot of options that you can consider, but the main one is going to be adding a convenience store to the property. This allows customers to purchase snacks, drinks, and more, and it may even draw in some business from individuals who are not even getting gas at your location. If you have space, consider adding a grill as well to entice customers with the smell of food.

When you have a convenience store, one of the advantages is that you will be able to have an indoor restroom. Many travelers will avoid service stations that do not have an indoor restroom, so if you do get one installed, you can draw in more customers who may buy something when they stop because nature calls. Other services that you can add to your location include a car wash and a repair shop.

Locating Your Investment

Are you ready to search for your new investment opportunity? Well, Boston City Properties knows this area of Massachusetts well, which means that our agents will be able to start searching for a gas or service station that fits your specific investment needs. Call us today at 617-247-1933 so that we can get started right away. If you already have a similar investment, you may even qualify for a 1031 exchange, which one of our agents can assist you with as well.

Click Here to Search

gas stations