Case Study

Industrial

Industrial Storage Facility Reduces Annual Flood Insurance Premiums by $10K

Bonita Springs , FL

Image of Industrial property for Industrial Storage Facility Reduces Annual Flood Insurance Premiums by $10K

$167,000 in Added Property Value

Solutions Found:

LOMA

Flood Expert Survey

Solutions Value: $10K Annual Savings | $167K Added Property Value

NFE Solution: LOMA; FES

Discover how National Flood Experts (NFE) assisted an industrial storage facility in Bonita Springs, FL, to overcome increased flood insurance premiums caused by updated FEMA maps. Through their expertise and a thorough Flood Expert Survey (FES), NFE reduced the client's costs and enhanced property value.

Challenge: Due to updated FEMA maps, an industrial storage facility faced skyrocketing flood insurance premiums after being newly mapped into a high-risk flood zone. The client, referred by a previous NFE Client, sought NFE's assistance to find an affordable solution.

Solution: To gather the most current, building-specific data, NFE conducted a comprehensive Flood Expert Survey (FES) to evaluate the property and identify all potential cost-saving solutions. The in-house engineering review of the FES data determined that two of the three buildings qualified for a Letter of Map Amendment (LOMA), removing them from the high-risk flood zone.

By securing the LOMA designation, the client achieved significant outcomes:

Cost Savings: The client's annual flood insurance premiums were reduced by an impressive $10,000.

Property Value Increase: With the reassessment and removal from the high-risk flood zone, the property value increased by $167,000 (assuming a 6% CAP rate), improving the overall worth of the industrial storage facility.

Conclusion: NFE's project for this Client industrial storage facility demonstrates its commitment to delivering effective cost-saving solutions across all real estate verticals. By conducting a thorough FES and securing a LOMA for two buildings, NFE helped the client reduce costs and enhance property value.

View Other Case Studies

Image of Multifamily property for Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property

$1MM+ in Added Property Value

Refinancing Saved, Excess Flood Insurance Mandate Removed, and $1MM+ in Property Value Added for Terre Haute, IN, Multifamily Property - Terre Haute , IN

Discover how a multifamily property owner in Terre Haute, IN, maximized refinancing and eliminated the need for excess flood insurance coverage. NFE’s engineering review helped the owners overcome restrictions, increase property value by a staggering $1MM+, and increase NOI by $65,250 annually - all in just under two weeks!

Image of Condominium property for Condo Property in Florida Successfully Removed from SHFA

Lender Mandates Removed

Condo Property in Florida Successfully Removed from SHFA - New Port Richey, FL

National Flood Experts provided a cost-saving solution for a condo community in New Port Richey, FL by using accurate and comprehensive Flood Expert Survey (FES) solution. Read on to learn how NFE's compliance determination led to significant financial gain by removing lender mandates and increasing property value.

Image of Multifamily property for LOMA Success for Randolph, MA, Affordable Housing Community

≈$123K in Property Value Added

LOMA Success for Randolph, MA, Affordable Housing Community - Randolph, MA

Explore how National Flood Experts helped an affordable housing community in Randolph, MA, increase the value of their property by nearly $137,000, remove lender mandates for several buildings, and improve annual NOI by $7,300+. Through NFE’s comprehensive engineering review, three buildings were successfully removed from the high-risk “A” flood zone.