Seaport District Gas Stations
Since the completion of the Big Dig, the Seaport District in Boston is getting a lot of attention. It is a growing area of the city that is quite innovative, and there are businesses moving in every day to help build up the area. When it comes to residential space in the area, new micro-apartments have been built as well, which are designed for workers to have a place to stay in the area. With that being said, if you are looking for an investment opportunity in the area, this is the place to start your search. Service stations will do great in this neighborhood, especially considering that there are two major highways right in the general area.
Click Here to Search
gas stations
Purchasing and Leasing Gas Stations
When you invest in a gas station, you are going to need to determine whether it is best to lease the property or purchase it. There are benefits to both options that you should consider, especially since this is a growing area with a lot of potential. Let's take a look at the benefits of both:
Purchasing
- As the owner, you will have the final say on what happens in the service station.
- You can select the station's name if it is an independently owned station.
- You can select the promotions that you wish to run at your location.
- You can decide which upgrades will be the most beneficial for your location.
- You can choose the hours that the station is open for business.
- You can decide to lease the property and collect rental income.
Leasing
- You do not have to make a long-term commitment.
- The initial investment is going to be far less with property that is leased.
- You can get a feel for the type of neighborhood and the customers that frequent the area.
- You will not be responsible for taxes on the property.
- You will not be responsible for any repairs that need to be done at the location.
- If the location is not profitable, the loss is far less when you lease the property.
Buying a Service Station with a Convenience Store
When you sell gas alone at a service station, you are not going to profit a lot, so many gas station owners decide to add a convenience store onto the property to help increase sales and make the investment more profitable. Any time that customers enter the store, the chances of a purchase increases greatly, so it is important to advertise promotions and reasons for them to come into the store at the pump.
Once you have the customers in the door, you need to have plenty of drink options, candy bars, and other snacks for them to select from. It is important to have fresh coffee for your customers, and if space permits, you can even consider a grill or a food station where customers can request hot food in a made-to-order fashion.
Reasons to Consider this Area for Your Investment
The Seaport District is an area of Boston that is growing quite a bit, and it is expected to grow quite a bit more in the next few years, which means that now is the time to invest. This is an area of the city with a lot of foot traffic, so if you want to find an investment in this community, great opportunities await you. Contact Boston City Properties at 617-247-1933 today. We know this area of the state well, so we will be able to help you find a great investment opportunity quickly.
As one of the fastest growing neighborhoods in Boston, the Seaport District is attracting investors and entrepreneurs from around the world. If you are looking to buy or lease a gas station in the city and want to lay the foundation for long-term success, this is a great area to look. However, many others want to own these types of properties too, so they don’t stay on the market for long. With access to Boston City Properties’ huge online database of searchable MA commercial real estate listings, you will have timely and accurate info at your fingertips at all times. Sign up by using the easy form, and remember to contact us for a referral to a commercial property expert in this neighborhood when you’re ready.
About the Neighborhood
Originally part of South Boston, or Southie, this waterfront area extends south of Fort Point Channel and has positively exploded in terms of growth over the last few years. Old wharf buildings and warehouses are being converted into luxury housing, and the city’s Innovation District is nearby, attracting lots of local talent. Commuting is an everyday thing for many in the area, so fuel stations here tend to do quite well.
What to Look For
Even if you find a seemingly promising fuel station to lease or buy in this neighborhood, there are no guarantees about how well it will perform. Increase the odds of acquiring a profitable property by keeping these points in mind:
- Location – Since there is so much new development in the area, it is important not to inadvertently end up with a fuel station that is located in a busy construction area. Otherwise, find one that’s situated on a busy commuter thoroughfare; intersections and freeway exits are also great locations.
- Size – Much of the money to be made in owning a fuel station comes from selling products inside the attached store. The bigger that space is, the better, so get the largest thing that you can afford. The right place will also have plenty of fuel pumps to ward off long, aggravating lines during rush hour.
- Appearance – If you want people to become loyal to your station and to frequent its convenience store, it needs to be welcoming and aesthetically pleasing to customers. It is much easier to buy a place with nice signs and a good existing design than one that needs a lot of work in this regard.
Considerations to Make
Just because a fuel station is ideally located and meets other key requirements doesn’t mean that it will be smooth sailing. The fact is that purchasing or even leasing this type of property is immensely challenging. Some of the things that you’ll encounter along the way include:
- What’s included? – If you will be buying, decide from the start whether you just want to buy a building or the land as well. Many listings are just for buildings. One drawback of owning the land too is that you are then responsible for ensuring that the land is maintained in accordance with environmental regulations.
- Environmental issues – Don’t take the owner’s word for it that the property has a clean bill of health in terms of environmental issues. If you are going to be the owner of the land, you could face steep penalties for running afoul of local regulations. Pay to have an environmental survey performed to minimize the risk.
- Lease and financing options – Figure out how you will pay for the property before you get too far into your search. You will need to know if you’re leasing or buying to effectively navigate listings. If you want to buy and plan to run the business too, loans from the Small Business Administration are excellent options to consider. As far as leases go, see if you can find a landlord that is willing to work with you on the terms.
Financial records – Don’t invest your hard-earned cash into a Boston fuel station without confirming its track record for sales and profits. Request at least two years’ worth of financial documents from the current owner, and have them analyzed by a competent CPA or accountant. As long as everything checks out, you can proceed secure in the knowledge that you shouldn’t end up with a money pit.
How Boston City Properties Can Help
A lot of work goes into buying or leasing a gas station in Boston’s Seaport. Do yourself a favor and sign up with Boston City Properties to find what you need faster. With access to our commercial real estate listings, you can easily check current availability for fuel stations for sale or for lease in this part of the city. When you’re ready, contact us for a referral to a local commercial real estate agent who can assist you further.
Click Here to Search
gas stations