Weymouth Gas Stations
The Boston suburbs are great for investors who are looking to put their money in a service station in the state of Massachusetts. Weymouth, which is a city in Norfolk County, has a population of nearly 56,000 individuals that tend to travel using their own personal vehicles as a means of transportation. With only 14 miles between this city and the city of Boston, it is easy to see why this community presents a lot of great investment opportunities.
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Purchasing and Leasing Gas Stations
Investing in a service station is a great way to expand your portfolio, but before you decide on an investment opportunity that you feel will be profitable, you are going to need to consider a few things:
- Whether to lease or purchase the property – Purchasing the property gives you a lot of freedom, which is important for the service station that you will be running, but this option also requires you to have a big down payment for the initial investment. If your funds are low, you can opt to lease property for much less. This gives you the ability to see how the location that you chose is going to perform before investing for the long-term.
- What is included in the sale – Make sure that you know that the sale of the station includes the land that it is located on as well. Some service stations are positioned on land that is owned by another individual, which could cause issues and more expenses down the road.
- The condition of the property – Of course you want the pumps, the station, and the store to be in good condition, but some things are not as easy to see when you are inspecting the property. Make sure that the canopy is in good condition as well as the underground containment tanks that hold the gas.
- How the station compares to others – If there are other service stations in the area, you are going to be competing with them for business, so you want to make sure that your location is comparable to the competition.
Buying a Service Station with a Convenience Store
If you are looking to increase your profits, adding a convenience store to your service station is a great way to do so. When customers come inside the store to go to the restroom, to pay for gas, or to purchase an individual item, they tend to browse the shelves and purchase more than they came for. This is especially true if you post promotions that you are currently running on the gas pumps as well as on the door s for customers to see as they enter. If you have the space for a grill, local residents will even make your location a daily stop where they pick up a fresh cup of coffee and a breakfast sandwich.
Neighborhoods to Consider for Your Investment
In this city, there are quite a few neighborhoods that you should consider for your investment, which include:
- Columbian Street
- Main Street
- The Landing
- North Weymouth
- Old Spain
- Idlewell
- Pine Grove
- Lovell Corners
- Washington Street
- City Center
Deciding which neighborhood is best for your investment can be daunting, especially with so many options. Route 3 cuts through Main Street and Washington Street, which Route 3A can be found in the northern part of town near Old Spain. If you would like representation while searching for an investment, contact Boston City Properties. We know this area of Massachusetts well, so we can help you locate an investment that will be great for your portfolio.
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