The ROI of Environmental Remediation Before Selling a Property
Commercial real estate sales can be challenging, especially when hazardous materials are involved. Environmental contaminants bring down the value of your property. Whether you are developing commercial land or selling a property you no longer use, pre-sale remediation can boost your profits. With the experts at Sun Environmental Corp., learn more about environmental remediation and why it helps you get a strong return on investment when selling a property.
What Are Hazardous Materials?
If your business handles hazardous materials (hazmat), there may be concerns about property contamination. Hazardous materials present a threat to human safety, making the land unsuitable for development. They may also impact the environment, meaning that the land cannot be returned to nature. Some common hazardous pollutants include:
- Fuel oil
- Diesel
- Gasoline
- Heavy metals
- Volatile organic compounds
- Polychlorinated biphenyls
- Pesticides
You don’t have to run an oilfield or pipeline to be faced with land contamination concerns. Hazardous materials are a concern for many types of commercial sites, including but not limited to:
- Gas stations
- Laundromats
- Railroad yards
- Factories
- Machine shops
- Furniture manufacturers
- Shooting ranges
- Agricultural sites
- Metal scrap recycling yards
If your commercial property was used for any of the above purposes, then its soil and groundwater may be contaminated. This means that the property presents a possible risk to the environment, in addition to people who live or work on or near it.
How Hazardous Materials Impact Commercial Property Sales
Commercial property sales are already an involved process. When there are concerns about contamination, the prospect of redeveloping land becomes even more complex. Prospective buyers must account for additional factors, including:
- Risk: Redeveloping the site may expose hazardous materials, endangering construction crews and allowing materials to spread beyond their source.
- Expense: Safety concerns make redevelopment costly. Potential buyers may redirect their attention toward non-contaminated sites that are simpler to build on.
- Regulations: Some contaminants are subject to strict regulation, resulting in legal consequences for companies that purchase an affected property.
- Resources: Interested buyers may simply lack the equipment, personnel, and other resources required to safely redevelop contaminated land, eliminating the option.
For these reasons, fewer buyers are interested in purchasing contaminated property. Those who are interested are likely to offer a lower price, as they are calculating the cost of remediation. This limits your property’s potential to earn a profit.
What Is Environmental Remediation?
Environmental remediation refers to the process of removing hazardous materials from the soil or groundwater. It is an involved process that begins with a thorough site analysis using soil and water sampling. The contamination is then addressed with monitoring, containment, transportation, or elimination. Once remediation is complete, the site is safe for use.
Experience and the correct equipment are necessary for effective remediation. Without them, the process may create runoff that spreads contamination and compounds the issue. It may also put personnel at risk due to harmful exposure. This is why you should not attempt remediation by yourself. Instead, it is crucial to work with a professional company that can complete the project safely, efficiently, and to the highest standard of quality.
Improving Property Value with Environmental Remediation
Environmental remediation is an investment, but it is one with great returns. You may be tempted to assume that it isn’t worth it. Even if the buyer’s offer accounts for the cost of future remediation, you might be making the same profit for less hassle.
This is far from the case. Site remediation not only enables you to ask for a higher price; it also attracts interest from a wider variety of buyers, including those who would not have considered the site while still contaminated. The greater demand increases the value of your site, driving up the price. You may even make more money on resale than you invested in remediation, making it the best financial choice when preparing to sell your property.
Boost Your Profits with Site Remediation from Sun Environmental Corp.
When choosing a partner for environmental remediation, look for a company that delivers an efficient and reliable service. Sun Environmental Corp. has served Upstate New York since 2010, and our leaders have a combined 50 years of experience in environmental consulting. Our team is highly trained in using late-model equipment for fast, effective, and safe cleanups. We handle a wide range of contaminants, including fuels, heavy metals, pesticides, and much more, with a commitment to the environment and to our customers.
If you’re planning on selling a commercial property, maximize your profit by investing in environmental remediation from Sun Environmental Corp. With offices in Albany, Buffalo, Rochester, and Syracuse, we serve Central, Western, and Northern NY, as well as the Southern Tier and the NY Capital Region. Contact us today to learn more about our services or to get started.
