Case Study

Multifamily

19 of 29 Buildings Removed from SFHA

Coral Springs, FL

Image of Multifamily property for 19 of 29 Buildings Removed from SFHA

$365K+ Added in Property Value

Solutions Found:

LOMA

The nation's largest apartment owner was preparing to list a 29-building property in Coral Springs, FL for sale. Understanding the significance of maximizing asset value, they wanted to address a critical challenge that the property faced—its location in the flood zone and the associated flood insurance mandates. This multi-family property had 29 buildings in the flood zone with lenders mandating flood insurance policies on each of their 29 buildings which cost $33K+ in annual premiums, and this cost was projected to increase to $62,519 over the next four years. It was clear that a strategic solution was needed to unlock the property's true worth.

Enter National Flood Experts…NFE conducted an extensive initial review of the property, carefully examining every detail. Our analysis determined that nine (9) buildings could be successfully removed from the high-hazard flood zone. Our engineering team suggested a Field Expert Survey (FES), to gather precise, property-specific data. Recognizing the potential for a game-changing outcome, the property owners agreed to the FES. The FES not only confirmed the removal of the initial nine (9) buildings from the flood zone but also paved the way for an additional ten (10) buildings to qualify. In total, a staggering nineteen buildings were successfully removed, resulting in an annual savings of $21,876 in flood insurance premiums—a major win. Additionally, an increase of over $365,000 in property value was realized, positioning the property very well on the market.

NFE also provided the property owner with a comprehensive write-up, expertly detailing the property's improved flood zone situation. This resource proved to be a key asset in their marketing efforts, elevating their ability to attract discerning buyers.

At NFE, our dedication to delivering comprehensive assessments, innovative solutions, and unmatched flood expertise has again proven instrumental in transforming challenges into opportunities. By partnering with us, the property owner was able to unl

View Other Case Studies

Image of Multifamily property for Excess Flood Insurance Requirement Eliminated for DE Multifamily Property

Excess Flood Insurance Requireme

Excess Flood Insurance Requirement Eliminated for DE Multifamily Property - Dover, DE

Explore how a Dover, DE, multifamily property eliminated excess flood insurance requirements, added property value, and reduced annual flood insurance expenses thanks to NFE's comprehensive engineering review and Flood Expert Survey (FES). NFE's analysis, supported by on-site data collected during the FES, qualified 3 of 4 buildings for removal from the high-risk flood zone, eliminating the lender mandate for flood insurance for those three buildings and eliminating the excess flood insurance requirement.

Image of Commercial property for 84 Lumber Saves $175K+ Annually Across 13 Properties

Portfolio Saves BIG in 10 States

84 Lumber Saves $175K+ Annually Across 13 Properties - Rockaway, NJ

NFE reviewed 84 Lumber’s entire portfolio and uncovered $175,000+ across 13 states. Be sure to check out our inaugural episode of In the Zone to hear the full story!

Image of Multifamily property for Flood Mandates Lifted for a Multifamily Property in Indianapolis

$84,000 in Added Property Value

Flood Mandates Lifted for a Multifamily Property in Indianapolis - Indianapolis, IN

A multifamily property in Indianapolis clipped by the flood zone sought ways to reduce flood insurance premiums. Their insurance broker contacted NFE to explore solutions. NFE conducted a Flood Expert Survey and secured a LOMA to reclassify the property into an X Zone, removing the flood insurance mandate, resulting in annual premium savings and an $84K property value increase. The insurance broker's collaboration & NFE's proactive approach achieved financial savings & added property value for the Client.