Case Study

Industrial

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

Bonita Springs , FL

$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 19 of 29 Buildings Removed from SFHA

$365K+ Added in Property Value

19 of 29 Buildings Removed from SFHA - Coral Springs, FL

On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.

Image of Multifamily property for Cold Call Results in $116K Property Value Increase for Multifamily Owner

$116K in Added Property Value

Cold Call Results in $116K Property Value Increase for Multifamily Owner - Colorado Springs, CO

Explore how National Flood Experts helped a client increase the value of their multifamily property in Colorado Springs, CO by more than $116,000. Through NFE’s comprehensive engineering review, the building was successfully removed from the high-risk flood zone, eliminating the lender mandate for flood insurance and decreasing annual expenses by nearly $7,000 while also increasing property value.

Image of Multifamily property for 17 of 21 Buildings Removed from SFHA

$50K+ in total savings

17 of 21 Buildings Removed from SFHA - Mobile, AL

NFE was successful in qualifying 17 of 21 multifamily buildings in Mobile, AL for removal from the SFHA, resulting in nearly $50K NOI increase for the property owners.