Waterfront Gas Stations

If you're looking for one of the steadiest-growing neighborhoods in the Boston area, look no further than the Waterfront. This area, which had greatly benefited from the city's growth, is also one of the richest areas for commercial development. In fact, the neighborhood has recently experienced a wave of new business interest, and as a result, properties here are definitely in a state of high demand. With so many business opportunities cropping up, the amount of workers that flock to this area is expected to rise by the tens of thousands, and with so many people commuting to the area, you can also expect there to be an upswing in the need of gas stations to help these commuters fuel up.

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Purchasing and Leasing Gas Stations

When you're ready to invest, you'll have two primary options: purchasing the property or leasing it from an owner. Deciding which works will depend on your patience level, your capital, your credit, and how fast you're looking to capitalize.

Buying the property, as you may expect, will afford you a high level of control, but leasing also allows investors to commit far less to the success of the investment and also requires less of a financial commitment. With all of this in consideration, definitely always take a few steps before you make a purchase or sign a lease to ensure that the station will work for you. These steps include:

• Ascertaining the status of the equipment – This is incredibly important because aging equipment can spoil the business. For example, leaking tanks can cause massive environmental trouble and if you own the station, you'll be found liable for any damage. Additionally, bad canopies can cause damage to your pumps, which can cost tens of thousands of dollars to repair.
• Gauge the competition – Are there stations in the area that could end up sapping away your customers? Also, are there plans for a large corporate service station in the immediate vicinity of your prospective station? If so, it's incredibly hard to compete against these stations due to the fact that they have so much support and there are more than a few motorists that will exhibit very strong brand loyalty.
• Ask whether the station is in a good area – As with any property investment, location is everything. Is the station you're looking at in an area with good traffic patterns? Is it easy to reach during a morning commute or is it somewhat out of the way? Having an optimal placement of your station can make a big difference, so execute some due diligence.

Buying a Service Station with a Convenience Store

Once you've decided that the property meets all of the above requirements, does it have an add-on business? Add-on businesses like convenience stores, garages, and car washes are amazingly important because it's very hard to profit purely off of gas sales.

Convenience stores, in particular, are excellent money makers and they also happen to have a lot of overlap that means that your morning commuters will often purchase things inside when they are getting gas at your pumps. Additionally, these types of businesses also provide opportunities to capitalize off of standard motorists and pedestrians as well; in fact, most service stations derive more profit from their convenience stores than any other type of business done on-premise.

Reasons to Consider this Area for Your Investment

The Waterfront neighborhood of Boston is an important and thriving area of town. If you're considering a service station investment in the area, then there are definitely numerous opportunities to make a sizeable profit. That being said, you should definitely consider a brokerage like Boston City Properties if you're looking to invest in a business like this in the Boston area. We have years of experience and a talented staff that can help you capitalize. Give us a call today at 617-247-1933.

As one of the fastest growing areas in Boston, the city’s Waterfront district offers many prime opportunities for business owners and investors. If you would like to lease or buy a gas station in this bustling neighborhood, you’re going to need all of the help that you can get. A great step is to sign up with Boston City Properties because we will give you instant, free, unlimited access to our huge online database of constantly updated MA commercial real estate listings. In turn, checking current availability for fuel stations for sale or lease here will be a snap. We can also connect you with a commercial property agent in this neighborhood whenever you’re ready.

About the Neighborhood

Situated just below Boston’s North End, this neighborhood has been experiencing a major boom in terms of both population and the local economy. Home to numerous mixed-use developments and lots of tourist destinations, demand for fuel stations in the area is quite high, and such properties perform very well. If you are able to buy or lease a station here, you can rest assured of excellent sales and growth for the foreseeable future.

What to Look For

Although you pretty much can’t go wrong by acquiring a fuel station in this part of the city, it still pays to know how to identify ones that will generate the best profits. Some things to look for include:

• Size – In addition to drawing in commuters who need to refuel, a fuel station here can attract loyal local business by offering a large convenience store. Therefore, try to acquire a property that includes decent amounts of retail space. Also, the more pumps that a property has, the better.
• Location – Look for a station that is situated so that it is accessible to locals on foot while also being convenient for commuters. At the very least, stick with properties that are located on busy commuter thoroughfares or major intersections. Scout out the local competition too to ensure that you won’t face too much of it.
• Appearance – Seek fuel stations that are nicely designed and in good aesthetic condition. Customers are more likely to become regulars when the convenience store section is clean, brightly lit and welcoming. Likewise, the outdoor area should have canopies over pumps, bright lights and clear signage. If you are looking for a fixer-upper, be prepared to invest good amounts of money into bringing it up to speed.

Considerations to Make

The process of buying or leasing a Boston fuel station is complicated and subject to many roadblocks along the way. A few of the considerations that your agent will help you to navigate include:

• Environmental issues – If you purchase both the building and the land, definitely pay to have an environmental survey performed before signing anything. Fuel stations are subject to dizzying arrays of environmental regulations, and running afoul of them can result in massive penalties and fines.
• What’s included? – Know going into the situation whether you will be buying the land and the building or just the building. Your agent can help you to weigh the pros and cons of each. Seek to buy the closest thing to a turnkey property as you can, and have thorough property inspections performed to ensure that you are getting exactly what you expect. The last thing that you need is to take ownership only to discover that some of the pumps don’t work or something.
• Financial records – Don’t just take the current owner’s word for it that the property generates strong sales. Insist on at least two years’ worth of financial records, and hire a CPA to look them over carefully. The accountant should then be able to give you an idea about the long-term financial viability of the station, and you can go into the situation with the information that you need.
• Financing and lease options – Secure a preapproval if you are going to buy a fuel station. If you will run the business as well, check into loans that are backed by the Small Business Administration because they often offer better terms. When leasing, note that some properties come with attached leases but that you can sometimes negotiate new terms.

How Boston City Properties Can Help

Don’t settle for less when seeking to buy or lease a gas station in Boston’s Waterfront neighborhood. At this very moment, the perfect opportunity could be available. Find out fast by signing up to search our continually updated commercial property listings. When you are ready, contact us for a referral to an experienced commercial real estate agent in this neighborhood. With their insider’s knowledge, you’re sure to sail through the process with ease. Contact Boston City Properties for more information.

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gas stations