Wrentham Gas Stations
Located about a half hour from Boston, the town of Wrentham, MA, is home to more than 10,000 people. Similarly to many of the towns and cities that are in the Boston Metro area, Wrentham is a part of the state that sees many of its residents commuting to and from Boston on a daily basis. Also, Wrentham is situated in a part of the metro area that happens to be very close to both Interstates 95 and 495, which is why many consider the town to be very motorist-friendly. As a result, it's hard to find a better area of the state that's more suited for a gas station investment.
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Purchasing and Leasing Gas Stations
Some investors get caught up between their options and don't know whether to buy their service station or lease it from an existing owner. In this section, let's take a look at both options.
Making a Purchase
If you are looking to control your investment, there's no better option than purchasing your service station. That being said, you will have to make a significant investment in the property, even if you're financing it because service stations can run well into the millions.
Even with that in consideration, outright buying a property like this can provide a high amount of profit, especially when you set up in high demand areas that will help you capitalize faster. Once your mortgage is paid off, a more sizeable chunk of your sales will go to your pockets. For this reason, many service station investors opt to go with outright purchases due to the long-term gains.
Opting to Lease
If you'd like to start seeing profit faster without as much commitment, then leasing is a great option. You can even use a lease on a property that you're thinking about buying so that you can get an idea of how well it'll perform. Also, one of the major advantages of leasing a service station is that you're not as invested in it. For example, if road work starts to hamper your business or if a corporate service station opens up and your station starts to falter, then you can opt to either break or ride out your current lease before investing somewhere else.
Buying a Service Station with a Convenience Store
When you're investing in a property like this, expansion businesses are going to be one of the chief ways that you'll be able to make a profit. Service station owners only really see about one percent of the profit from gas sales, so these types of businesses are crucial for their bottom line. For this reason, seek out investments that at least include a convenience store.
Convenience stores supplement gas sales because gas customers will oftentimes come inside to purchase drinks, coffee, or snacks. Also, customers that pay with cash or just need to use the facilities have to go inside to do these things in most situations, which means that they also have a higher chance of spending money in your store.
Neighborhoods to Consider for Your Investment
This town has three neighborhoods:
- Sheldonville
- Town Center
- Wampum Corner
Service stations are admittedly fickle; you'll have to execute a lot of research to not be trapped with one that just isn't in the right location to capitalize on traffic patterns. With that in mind, a town like this one stands out due to the fact that traffic comes in and out of just about all of the three neighborhoods that make up the town. As a result, purchasing or leasing a service station here can be very lucrative. If you're wondering which properties are available, give Boston City Properties a call today at 617-247-1933.
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