Roxbury Gas Stations
Roxbury, which is one of the oldest neighborhoods in Boston, is a great place for an investment. With a population of over 60,000 residents in this area alone, you will be able to get plenty of customers for your business from locals who live in the area as well as those who are simply passing through. I-93 is nearby, so investing in a service station in this area could be great for your bottom line. This community is quite large; in fact, it is nearly a city itself, so investing in this area can be quite profitable.
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Purchasing and Leasing Gas Stations
Are you new to the service station industry? This specific type of investment can take a lot of commitment, but in the end, it can be quite profitable. That being said, you are going to need to decide whether it is best for you to purchase a service station or lease one from the owner. Both of these options have their pros and cons, so make sure that you consider both before making a decision.
- Leasing – This is a great option for an investor who does not have the best credit. You will be able to lease the property without taking out a large loan, which means that you will be able to handle the initial investment more easily as well. In addition to this, when you lease property, you are not responsible for the taxes on the property, which means that you only need to worry about your rent each month. The equipment on the property such as the canopy or the tanks that hold the gas will be the responsibility of the owner, which means that you will be free to compare your station to others in the area, get an impression of the traffic in the area, and decide if the property works for your investment needs.
- Purchasing – When you purchase property, you will be responsible for everything that happens at the service station. This includes repairs and expansions that you want to invest in as well as the daily management decisions regarding the supplier that you use and the promotions that are being run in the store. When you build onto the service station, you will be able to decide whether to run the new addition yourself or rent it out to an entrepreneur in the area.
Buying a Service Station with a Convenience Store
Gas stations can be quite a profitable investment, but to increase your profit margins, you are going to need to have a convenience store on the premise as well. When a customer comes to your station to purchase gas, they may go inside to pay for gas, pick up cigarettes, or purchase lottery tickets. Once the customer enters the store, they may be enticed to grab a drink or a snack as well. If you have the space in the store, having a grill can also increase your sales, especially if you can smell the food when you enter the door. Don't forget to keep a pot of fresh coffee available at all times, but especially when the morning rush is on their way to work.
Reasons to Consider this Area for Your Investment
Within the neighborhood of Roxbury, there are several districts that you may wish to consider for your business. Most of the areas are great for commercial opportunities, but you will want to check the traffic flow and the customer potential in each area before committing to one. The districts in the area include:
- Dudley Square
- Fort Hill
- Crosstown
- Grove Hall
- Egleston Square
- Blue Hill Avenue
If you want to buy a Boston gas station and need recommendations on where to look, its Roxbury neighborhood is a great option to consider. Lately, this part of the city has been experiencing explosive growth, so it’s an optimal time to buy or lease this type of property. However, successfully doing so isn’t easy. You’ll need access to timely and accurate information, and you can get that and more by signing up with Boston City Properties. Once you do, we’ll give you free, instant access to our huge database of continually updated Massachusetts commercial real estate listings. We also have talented commercial real estate professionals in the area and can connect you with one when you’re ready.
About the Neighborhood
Located directly adjacent to the city of Brookline, this charming Boston neighborhood is covered by the 02119 zip code. For many years, this part of the city was overshadowed by many others that were experiencing major upticks in population and job growth. Lately, however, the trend has finally picked up here, and tons of new businesses and housing units are going up. As a result, fuel stations are in greater demand here than ever, and anyone who owns one is sure to enjoy brisk business.
What to Look For
We can refer you to a commercial real estate expert in this part of the city, and they can help you to locate fuel stations that are most likely to generate solid sales and profits. For now, however, here are examples of a few things to look for when seeking to buy or lease this type of property:
- Size – Stick with stations that have plenty of gas pumps to ensure speed and convenience for customers who just need to fuel up. The ideal property will also include a decent-sized market or convenience store because that’s where you can really expand the horizons of your store’s profitability.
- Location – Your agent can point you toward areas in this neighborhood that are ideally suited for profitable fuel stations. The right property will be located on a busy commuter thoroughfare or even within close proximity of a major freeway.
- Appearance – You might spend less on a fixer-upper, but then you really will have to fix it up if you want to succeed. Customers expect fuel stations to be brightly lit, clean and welcoming. Look for one that is already in pretty good shape, or you will have to invest a lot of cash just to get it up and running.
Considerations to Make
Even if you find a station that meets the above requirements, you’re sure to encounter various stumbling blocks along the way. A few of the considerations that you’ll have to make throughout the process include:
- Environmental issues – If you will be the owner of the building and land, make sure that there are no underlying environmental problems that make the property run afoul of local, state or federal regulations. Otherwise, you will face steep fines and penalties that will cut into your profits. Avoid this by having an environmental study performed before closing or signing a lease.
- What’s included? – Seek out properties that already include everything that you will need to get your business up and running as quickly as possible. Otherwise, be prepared to spend quite a bit. Look for deals on properties that include extras like car washes and fast food restaurants because they tend to attract even more business.
- Financial records – Hire an accountant or CPA, and have them analyze financial records from any fuel station that you’re considering buying. If there are any doubts about the profitability of a particular property, proceed with caution. Sometimes, certain fuel stations just never seem to generate much business. It is far better to find this out now than after you’ve invested in the place.
- Lease and financing options – Figure out how you will pay for the property before your search really gets going. If you will be buying a fuel station and plan to run it as well, check into Small Business Administration loans, and get preapproved. If leasing, look for landlords who are open to negotiating lease terms instead of pigeonholing you into something that may not work.
How Boston City Properties Can Help
Roxbury gas stations go on the market on a fairly regular basis. However, since this neighborhood is experiencing a surge in growth, these properties don’t tend to linger for very long. Sign up with us to search our listings to get a leg up on the competition. Remember too that we have connections with skilled commercial property agents in this part of the city and can refer you whenever you’d like. For more information, please contact Boston City Properties today.
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gas stations