West Bridgewater Gas Stations
With a lower median home value than many of the other towns in the Boston suburbs, and a 30-mile distance from Boston itself, the town of West Bridgewater is becoming fairly popular. As a result, there's been steady growth in the area, and many of these new residents are professionals that commute daily to and from nearby Boston. Due to this, there are several unique opportunities in West Bridgewater, and for those investors that want to really capitalize on the commuters that call this townhome, there is no better investment than the gas station.
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Purchasing and Leasing Gas Stations
Once you have decided to acquire a new service station, you are going to have to decide which method you're going to use to engage in this investment. Your options are to purchase the station or to lease it from an owner.
If you opt to buy, you'll have far more control than you would were you to lease the property, and you will be able to pick your supplier and the hours of the station. In addition, you will be able to expand to other business opportunities when you feel the time is right. Also, you'll have the option to lease or sell the property down the line.
When leasing from an owner, you will have a bit more freedom because you won't have dropped millions into your service station. This is a great way to dip your feet into a particular location because you'll be able to gauge its performance, and if it works out, you can always opt to buy it from the owner later. Leasing also means that you won't experience any tax liability on the property as well.
No matter which acquisition method you decide on, it is crucial to remember a few things:
- Gauge the Competition – Put simply, if there is a major corporate brand in the area, they will make it very difficult. Remember, some people only purchase oil from larger companies, and you'll start to feel the loss pretty quickly.
- Take a Look at Traffic Patterns – A new purchase can look great, have great equipment, and excellent employees, but if it doesn't grant access to the busiest roads, it may fizzle.
- Check Out the Equipment – Service station owning, as you might expect, is equipment-dependent, but that's only part of the story. Having faltering equipment can not only hamper your business but things like damaged tanks can cause an environmental issue. Always check the status of the equipment before you buy or lease.
Buying a Service Station with a Convenience Store
In addition to checking into the status of the service station, it's always a good idea to seek stations that also include expansions. These expansions can include car washes, eateries, and garages, but the most lucrative expansion business in most situations is the convenience store.
While purchasers can opt to build larger convenience stores on their service station property, having preexisting stores will help you capitalize more quickly. Remember, these stores are real money makers, especially around the rush hours, so keeping them stocked and ready for the morning and evening rush is crucial.
Neighborhoods to Consider for Your Investment
This town is a smaller town, and as a result, there are only two neighborhoods, which include:
- Matfield Corner
- Town Center
These neighborhoods are at the west and east sides of the town and both are bisected by Interstate 495, which means that both have locations that would be perfect for a service station. If you are wondering where to start in a town like this, give Boston City Properties a call at 617-247-1933. We have thousands of listings for service stations across the state and can help you find your next investment.
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gas stations