Much like residential purchases, commercial property buyers in the Gainesville area benefit greatly from a commercial building property inspection. Commercial real estate is a high dollar industry with properties ranging in value from tens of thousands to tens, or hundreds of millions! Large commercial spaces can quickly become a very large investment. With all large purchases, doing your due diligence will ensure you’re on the right path to a profitable investment. Part of your due diligence should include a thorough commercial building inspection.
Commercial building inspections review the accessible areas of the building and grounds to identify systems and components that are not functioning as intended, maybe a safety hazard, or have the potential to cause issues in the future. As with all real estate ownership, systems such as roofs, electrical components, HVAC systems, plumbing systems, and structural systems are significant portions of the building system and, if found defective, can be significantly high cost repairs. For example, on a recent inspection of a 40,000 square foot commercial space, we found a roof covering that was several years beyond it’s life expectancy with several issues that were causing leaking and have the potential for further deterioration. The estimated cost for replacement of the roof covering was around $300,000, almost 10% of the contracted purchase price. Even on smaller buildings, replacement of key building systems can quickly enter the five-digit range.
The goal of a commercial building inspection is to find and identify those issues which could become larger problems if not repaired or corrected. A commercial building inspection also serves to identify systems which are at or near the end of their serviceable lives so you can budget and plan for replacement.
Commercial building inspections do not only serve to find problems, they can also be beneficial. For example, we were hired last year to inspect a small storefront space in a local town which was to be converted to a legal office. Our client was concerned because the sellers indicated there was a septic tank underneath a very large shed that was attached to the building and used for storage. They were concerned they were not able to inspect the tank. Septic tanks are commonly made of concrete and can crack. Cracked tanks cannot be certified in Florida and would require replacement if the drain field were to be re-done. Septic tank replacements are generally around $10,000 and can quickly run up around $20,000 depending on the soil conditions and amount of excavation required. During the inspection we were able to find the flooring of the shed has been removed and re-attached in a way that the flooring could be removed and the tank lid exposed.
Finding this was huge as our clients were able to get the tank pumped and inspected to have their concerns lifted. They were able to purchase the property and worry about removing the shed at a later date.
While we work with large corporate clients, our primarily client base is local business owners and small business. As business owners, your goal is to make a smart financial investment in your company. Our goal is to help you by providing all the information we can to help you assess your investment and plan for future costs. As Florida, and particularly Gainesville and Alachua County, continue to grow, Greenwood Building Inspection and Consulting will be here to provide the most thorough and detailed commercial building property inspections to all our clients throughout North Florida.
Licensed & Certified
Based In………………Newberry/Gainesville, FL
Phone………………….352 405 5516
North Florida Commercial Property Inspection Service Area:
– Gainesville, Lake City, Jacksonville, Ocala, Brooksville, Tallahassee, The Villages, St. Augustine, Ponte Vedra, Dayton Beach, Tampa, Orlando