Case Study

Multifamily

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

Colorado Springs, CO

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

$116K in Added Property Value

Solutions Found:

LOMA

Flood Expert Survey

Solutions Value: ≈$116,000 in Added Property Value | ≈$7,000 in Annual Premium Savings

NFE Solution: LOMA; FES

A cold call from National Flood Experts paid off big for this Colorado Springs, CO, multifamily property owner.

Based on past successful projects and area data, NFE's in-house research team pre-qualified the Client's property as having a high likelihood of cost-saving solutions. NFE contacted the property owner to share our services and what we thought may be possible for their property and the Client was interested in exploring what solutions might be available.

NFE performed the initial desktop engineering review, which confirmed the high likelihood that the building would qualify for removal from the Special Flood Hazard Area (SFHA) through a Letter of Map Amendment (LOMA). To fully confirm the solution, additional property-specific data was required. The Client agreed to have NFE perform a Flood Expert Survey (FES) of the property. After an exhaustive review of the new data, NFE's engineers qualified the building for a LOMA.

Upon approval by FEMA, the LOMA removed the building from the SFHA and into an X Zone. With the LOMA in hand, the Client's lender released the mandate for flood insurance. As a result, the Client's flood insurance expenses decreased by nearly $7,000 annually. This reduction improved the property's net operating income (NOI) and increased the property's value by an impressive $116,000+ assuming a 6% CAP Rate.

View Other Case Studies

Image of Commercial property for Increase Commercial Real Estate Value Through Flood Zone Reclassification

$50,000 in Added Property Value

Increase Commercial Real Estate Value Through Flood Zone Reclassification - Clive, IA

Learn how National Flood Experts helped a client increase the value of their commercial property in Clive, IA, by $50K. Through NFE’s Flood Expert Survey, the property was successfully removed from the AE flood zone, improving the future marketability of the property.

Image of Commercial property for Vermont Shopping Center’s Annual Premium Reduced by $15K+

Shopping Center Saves $15K

Vermont Shopping Center’s Annual Premium Reduced by $15K+ - Manchester Center, VT

Learn how NFE’s engineering review identified a consulting scenario that helped a real estate investment firm reduce the annual flood insurance premium for a Manchester City, VT, shopping center by more than $15,000.

Image of Commercial property for Hotel & Restaurant Saves $47.5K

$47,590 Policy Reduction

Hotel & Restaurant Saves $47.5K - Chesapeake Beach, MD

A restaurant in Chesapeake Beach, MD was paying nearly $50k annually on flood insurance premiums & ended up realizing $47,590 in savings after working with NFE.