Jamaica Plain Gas Stations

If you're looking to invest in a residential area that sits within the Boston area, the neighborhood of Jamaica Plain provides some truly unique and potentially lucrative possibilities. First, the neighborhood has a population of over 37,000 and is largely residential, so there's a noteworthy need for both commercial and residential investment properties. Additionally, this part of town, which is called JP by its residents, is situated at a nexus of several major Boston roads and streets; in fact, both Lamartine and Green streets run through the neighborhood. As a result of this optimal placement, a gas station investment here can be an excellent idea.

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Purchasing and Leasing Gas Stations

Profitability can certainly be achieved if you opt to invest in a modern service station, but there are definitely a few ways in which you can enter into this style of investment. Just like other commercial investment property types, you can purchase the property and the land it rests on outright or you can simply rent or lease the service station from a preexisting owner.

Both of these options have their pros and cons, and each experience definitely works very differently from the other. Which acquisition option you end up selecting will definitely also depend on your own investment style and preferences, so take the time to consider each.

Purchasing a station of this type will usually mean that you'll have a significant amount of control over the investment. Not only will you not have to necessarily go with a corporate brand, but you'll also have a say about which suppliers you work with, which promotions will be featured at the station, and which add-on businesses you'll opt to go with. You'll even be able to set station hours and upgrade the equipment when needed.

Leasing also has its share of distinct advantages. For example, when you opt to buy, components of the service station like the canopy and the tanks become your responsibility. If either one of these components falls into disrepair, you'll have to address them directly. This is especially relevant when it comes to the tanks, which can cause expensive environmental issues if they rupture. When you lease, these aspects of the service station remain the responsibility of the owner, so there's just a bit less stress.

Leasing also doesn't include mortgage payments, insurance, or property tax, so there's less of an investment when you opt to lease. With this all being said, this is actually an argument to lease before you buy as well because leasing is a great way to ascertain how a station is going to perform before a purchase.

Buying a Service Station with a Convenience Store

It takes considerable effort to turn a profit just by selling gas, which is why many owners opt to build a convenience store on their property. These stores provide significant profit due to the fact that a gas sale can help support a convenience store sale. For example, many commuters get gas in the morning as they are starting out their workday. When they stop at a gas station with a convenience store, there's an impetus for the commuter to grab a snack, some coffee, or even a lottery ticket from the store, which translates into profit for the owner.

Reasons to Consider this Area for Your Investment

Jamaica Plain is one of the more beautiful neighborhoods in the Boston area, and since it has a wide variety of roads that go through this part of Boston, there's a lot of opportunity for a service station investor. If you're wondering where to start, give us a call at Boston City Properties at 617-247-1933, and we'll help you find your investment.

Owning or leasing a gas station in Jamaica Plain, a bustling Boston neighborhood, can be a great way to enjoy steady, appreciable sales and profits even during times of recession. Because fuel stations are known to be great income generators, however, competition for them tends to be fierce. If you are determined to procure a high-performing station in this busy neighborhood, do yourself a favor and sign up with Boston City Properties. We will give you free, immediate access to our huge online database of searchable Massachusetts commercial real estate listings, and you will be on your way to finding the perfect thing in no time flat.

About the Neighborhood

Stretching over an area of about 4.4 square miles, this is one of the city’s larger neighborhoods. Covered by the 02130 zip code, it had a population of around 37,500 at the time of the 2010 U.S. Census. Largely residential in nature, it is home to many professionals who commute into and out of the city every day, so fuel stations here tend to do brisk business. From Pondside to Sumner Hill, various parts of this neighborhood present excellent opportunities for people who want to buy or lease such properties.

What to Look For

Our team can refer you to a commercial real estate agent in this neighborhood who can assist you in identifying promising fuel stations for sale or lease. For now, get a basic understanding of what to look for by considering the following points:

• Size – Fuel stations in a densely populated place like Boston don’t tend to be very large. Some are so basic that they lack indoor convenience stores. Ideally, you should get a station that includes a large store as well as several working pumps. When it comes to these properties, bigger is generally better.
• Appearance – Unless you have the extra money to renovate the station that you buy or lease, look for one that is already in good shape in terms of aesthetics. Signs should be large, bright and legible, and the store should be brightly lit, comfortable and welcoming.
• Location – The most profitable fuel stations are located on busy roads with direct, convenient access to major freeways. There are plenty of opportunities like these in this neighborhood. However, it is also important to survey the area for competition. If too many other stations are in the immediate vicinity, generating strong profits may be more difficult.

Considerations to Make

A lot more goes into buying or leasing a fuel station in Boston than finding one and signing some paperwork. It’s also important to understand that fuel stations aren’t magical money makers. You can easily lose a lot of your investment with the wrong property. The commercial real estate agent that we refer you to can help you to navigate the following issues and more:

• What’s included? – Educate yourself about the pros and cons of owning both the land and building or just the building. Whatever you decide, always perform due diligence before committing to anything. This includes having thorough inspections performed to ensure that everything that you need is in good working order.
• Environmental issues – If you buy the land and building and it later turns out that the property has serious underlying environmental problems, you could be on the hook for thousands of dollars’ worth of penalties and fines. This is why it is imperative to have an environmental survey performed. Do this even if the current owner insists that all is well; they could easily be trying to wriggle out from under a huge problem.
• Financing and lease options – Just as with buying residential real estate, have your financing squared away before searching for fuel stations in earnest. You can be sure that any property that you zero in on will be looked at by many others, and most of them will have pre-approvals in hand. When leasing, beware of legacy leases with inflexible terms; seek out properties where you’ll be able to negotiate the terms of a whole new lease, if possible.
• Financial records – All of the business prowess in the world won’t matter if the station that you acquire historically underperforms in terms of sales. Obtain a few years’ worth of financial records, and have them analyzed by a qualified accountant.

How Boston City Properties Can Help

Owning a Jamaica Plain gas station can be a great way to enjoy consistent, long-term profits. However, finding one that suits your various requirements is a tall order. When you sign up with Boston City Properties, you’ll gain free, instant access to our commercial real estate listings and can check availability in this neighborhood in an instant. We will also refer you to a skilled commercial property agent in the area when you’re ready. Contact Boston City Properties today for more information.

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