Getty Realty Corp. (GTY): Business Model Canvas

Key Partnerships

Getty Realty Corp. (GTY) relies on several key partnerships to support its business model:

• Getty Realty Corp. partners with major gas station chains to lease out their properties for gas station development. This partnership helps GTY generate rental income from these properties.
• These partnerships also provide stability to Getty Realty Corp.'s revenue stream, as gas stations are essential services and tend to have steady demand.

• Getty Realty Corp. also partners with convenience store operators to provide additional services to customers at its gas station properties.
• This partnership enhances the customer experience and increases foot traffic to the gas stations, benefiting both GTY and the convenience store operators.

• Getty Realty Corp. collaborates with real estate developers to identify new opportunities for property development or redevelopment.
• These partnerships help GTY maximize the value of its properties and enhance its portfolio through strategic development projects.

• Getty Realty Corp. partners with financial institutions to secure funding for property acquisitions, development projects, or other capital-intensive initiatives.
• These partnerships provide GTY with the necessary resources to grow and expand its real estate portfolio.

Key Activities

Getty Realty Corp. engages in a number of key activities to effectively operate their real estate business:

• Acquiring and managing real estate: One of the primary activities of Getty Realty Corp. is acquiring properties to add to their real estate portfolio. This involves identifying potential properties, conducting due diligence, negotiating deals, and completing purchases. Once a property is acquired, the company is responsible for managing it effectively to ensure its profitability.
• Leasing properties: Getty Realty Corp. leases out its properties to tenants, generating rental income. This activity includes marketing available properties, negotiating and signing lease agreements, collecting rent, and addressing tenant needs and concerns.
• Property development: In addition to acquiring existing properties, Getty Realty Corp. may also engage in property development activities. This could involve renovating existing properties, constructing new buildings, or redeveloping land to create new rental opportunities.
• Tenant management: Managing tenant relationships is a crucial activity for Getty Realty Corp. This includes addressing tenant inquiries and complaints, ensuring that lease agreements are being adhered to, and maintaining positive relationships with tenants to encourage lease renewals.

Key Resources

Real estate portfolio: Getty Realty Corp. possesses a diverse and extensive real estate portfolio, comprising of properties across the United States. These properties include gas stations, convenience stores, and other retail locations. This provides the company with a stable source of rental income and potential for value appreciation.

Experienced management team: The company is led by a team of experienced professionals who possess a deep understanding of the real estate industry. Their expertise allows for effective decision-making, strategic planning, and risk management, ensuring long-term success and growth for Getty Realty Corp.

Legal and financial expertise: Getty Realty Corp. benefits from a team of legal and financial experts who provide valuable guidance on legal matters, financial analysis, and property acquisitions. This expertise helps the company navigate complex legal and financial challenges, ensuring compliance and long-term sustainability.

Strong brand recognition: Getty Realty Corp. has established a strong brand presence in the real estate industry, known for its reliability, professionalism, and integrity. This brand recognition attracts potential tenants, investors, and partners, facilitating business growth and expansion.

• Real estate portfolio
• Experienced management team
• Legal and financial expertise
• Strong brand recognition

Value Propositions

Getty Realty Corp. offers several key value propositions that set us apart from other real estate companies in the market:

• Prime locations for tenant businesses: We strategically select properties in high-traffic areas that provide an ideal setting for tenant businesses to thrive. This not only attracts top-tier tenants but also ensures steady income for our investors.
• Stable income through long-term leases: We focus on securing long-term leases with reliable tenants, providing a steady stream of income for our investors. Our commitment to maintaining strong tenant relationships allows us to minimize vacancies and mitigate risks.
• High-quality property maintenance: We pride ourselves on our proactive approach to property maintenance, ensuring that our properties are well-maintained and attractive to tenants and customers alike. This not only enhances the value of our portfolio but also promotes tenant retention and satisfaction.
• Portfolio diversification in retail and commercial properties: Our diverse portfolio includes a mix of retail and commercial properties, catering to different market segments and minimizing risks associated with sector-specific fluctuations. This diversification strategy allows us to capitalize on emerging opportunities and navigate market challenges effectively.

Overall, our value propositions demonstrate our commitment to providing exceptional value to our investors, tenants, and stakeholders, driving sustainable growth and long-term success for Getty Realty Corp.

Customer Relationships

Getty Realty Corp. places a high value on building and maintaining strong relationships with its customers. By ensuring positive interactions and providing quality service, Getty Realty Corp. aims to create a loyal customer base that is satisfied with their leasing experience.

• Long-term lease agreements: Getty Realty Corp. focuses on securing long-term lease agreements with its tenants to provide stability for both parties. By offering attractive lease terms and conditions, Getty Realty Corp. aims to foster trust and loyalty with its tenants.
• Responsive tenant support: Getty Realty Corp. prides itself on its responsive and attentive tenant support services. Tenants can reach out to the management team for any questions or concerns, and Getty Realty Corp. strives to address these issues promptly and effectively to ensure tenant satisfaction.
• Regular property updates and improvements: Getty Realty Corp. is committed to maintaining its properties in top condition. By regularly updating and improving its properties, Getty Realty Corp. aims to enhance the overall leasing experience for its customers and attract new tenants to its properties.
• Transparency in transactions and communications: Getty Realty Corp. believes in transparency in all its transactions and communications with its customers. By providing clear and accurate information, Getty Realty Corp. aims to build trust and credibility with its tenants and create a positive leasing experience for all parties involved.

Channels

Getty Realty Corp. utilizes various channels to lease out their properties and attract potential tenants. These channels include:

• Direct leasing through corporate office: Getty Realty Corp. has a dedicated team at their corporate office that handles leasing inquiries and negotiations directly with prospective tenants. This direct channel allows for personalized service and efficient communication throughout the leasing process.
• Online property listings: Getty Realty Corp. utilizes online platforms to showcase their available properties to a wider audience. Through their website and other online real estate portals, they provide detailed information about each property, including photos, floor plans, and leasing terms, to attract potential tenants who are searching for commercial real estate.
• Real estate agents and brokers: Getty Realty Corp. partners with local real estate agents and brokers who have access to a network of buyers and tenants. These professionals help market Getty Realty's properties to a broader audience and facilitate leasing transactions on behalf of both parties.
• Trade shows and industry events: Getty Realty Corp. also participates in trade shows and industry events to promote their properties to potential tenants within specific market segments. By showcasing their properties at these events, they can connect with decision-makers and key players in the real estate industry and generate leads for leasing opportunities.

Customer Segments

Getty Realty Corp. serves a variety of customer segments including:

• Gas stations: Getty Realty Corp. provides real estate solutions for gas stations, helping them to lease properties and maximize their business potential.
• Convenience stores: Convenience store owners can benefit from Getty Realty Corp.'s expertise in leasing and managing properties in strategic locations.
• Retail chains: Getty Realty Corp. works with retail chains to provide them with prime real estate locations for their stores.
• Commercial businesses: Commercial businesses can leverage Getty Realty Corp.'s services to secure ideal locations for their operations, whether it be office spaces or industrial facilities.

By catering to these diverse customer segments, Getty Realty Corp. is able to provide tailored real estate solutions that meet the unique needs of each client.

Cost Structure

Getty Realty Corp. incurs costs associated with acquiring properties to add to their portfolio. This includes expenses such as purchase price, due diligence costs, legal fees, and any other costs associated with the acquisition process.

Once properties are acquired, there are ongoing property management expenses that need to be accounted for. This includes costs related to leasing, property insurance, property taxes, utilities, and any other expenses associated with managing the properties.

Getty Realty Corp. invests in renovating and maintaining their properties to ensure they are attractive to tenants and in good condition. This includes costs for renovations, repairs, upgrades, and regular maintenance to upkeep the properties.

• Staffing costs: Getty Realty Corp. incurs expenses related to staffing their operations, including salaries, benefits, training, and any other costs associated with employees.

• Legal expenses: Legal costs are incurred for various legal services such as contract drafting, lease agreements, regulatory compliance, and any other legal matters.

• Other operational expenses: This category includes miscellaneous costs such as marketing expenses, technology investments, office expenses, and other general operational costs.

Revenue Streams

Getty Realty Corp. generates revenue through various streams that contribute to the overall profitability of the company. These revenue streams are essential to the success and growth of the business.

• Getty Realty Corp. generates a substantial portion of its revenue through long-term lease agreements with tenants. These leases typically have a duration of several years, providing a consistent source of income for the company.
• The lease payments are based on the terms and conditions outlined in the lease agreements, including the rental rate, lease term, and any additional fees or charges.

• Getty Realty Corp. offers property development services to tenants and partners seeking to develop or redevelop real estate properties. These services include site selection, design and planning, construction management, and project financing.
• By providing property development services, Getty Realty Corp. is able to generate additional revenue while also adding value to its real estate portfolio.

• Getty Realty Corp. earns management fees from overseeing the day-to-day operations of its properties, including leasing, maintenance, and tenant relations.
• These management fees contribute to the company's revenue stream and help cover the costs associated with managing a diverse portfolio of real estate assets.

• Getty Realty Corp. may periodically sell real estate properties from its portfolio to generate additional revenue and optimize its investment strategy.
• The proceeds from the sale of real estate properties can be reinvested in new properties or used to fund other strategic initiatives, such as debt repayment or share buybacks.