Case Study

Multifamily

$11K in Premium Savings Realized in 5 Days for GA Multifamily Property

Thomasville, GA

$187,000+ Added Property Value

Solutions Found:

LOMA

Solutions Value: $11K+ Annual Premium Savings with $187K+ in Added Property Value

NFE Solution: LOMA

National Flood Experts resolved a flood zone issue for a multifamily property in Thomasville, GA when 5 of 13 buildings were flagged as located in the Special Flood Hazard Area (SFHA), triggering lender mandates for NFIP and Excess flood insurance policies. To alleviate these burdens and enhance the property's value, the property owner sought the assistance of NFE.

To address the challenges faced by the client, NFE conducted a thorough desktop engineering review of the entire property at no cost. This review helped identify potential areas for flood zone removal via Letter of Map Amendment (LOMA).

By qualifying all five impacted buildings for flood zone removal, the project facilitated the removal of the lender mandates for both the NFIP and excess flood insurance policies. The project was completed in less than five days, showcasing NFE's efficiency and expertise in dealing with flood zone designations.

This swift solution immediately relieved the client from high insurance costs and lender mandates, yielding significant and tangible results for the client and, overall, providing flood insurance savings of $11,000+ per year and increased property value by $187,000+. This increase in value has the potential to positively impact the long-term financial performance of the property.

NFE's expertise and timely solution enable property owners to achieve substantial cost savings and increased property value for their assets in flood zones.

View Other Case Studies

Image of Commercial property for Commercial Property Saves $11K

$350K in Added Property Value

Commercial Property Saves $11K - Philadelphia, PA

Learn how NFE helped a mixed-use commercial property along the Schuylkill River in Philadelphia, PA save ≈$11K/year in flood insurance premiums and added $350K in property value by removing 6 of the 14 buildings from the flood zone through FEMA's LOMA process, all in less than 45 days!

Image of Land property for Commercial Development Firm Wins Big in NY

$10K Saved & Headaches Avoided

Commercial Development Firm Wins Big in NY - Brooklyn, NY

An entire undeveloped lot was being pulled into the SFHA, creating permitting nightmare for the owners. NFE's engineering analysis pulled the ENTIRE lot out of the SFHA both NOW and when the pending preliminary map goes into force.

Image of Commercial property for National Hotel Portfolio Saves $53K in Premiums

$670K in Added Property Value

National Hotel Portfolio Saves $53K in Premiums - Miami & Marathon, FL

NFE's expertise helped a portfolio of hotels save more than $53K in flood insurance premiums and removed the lender mandates for 15 properties. Qualifying the buildings for Letters of Map Amendments also resulted in ≈ $670K increase in property value (assuming an 8% CAP rate).