Commercial buildings are establishments intended to earn a profit and serve as centers for business-related activities. As commercial buildings are meant for enterprise, trade, or financial activity, many New Jersey investors are interested in acquiring these properties.
However, investors, insurance underwriters, lenders, commercial mortgage-backed security (CMBS) lenders, and portfolio managers need to take precautions when making these decisions. Requesting a building inspection can give them sufficient information before finalizing commercial real estate purchases. The engineer’s assessment will assist the parties in determining if the property or structure is viable and what the potential return on investment (ROI) may be.
A commercial building inspection NJ assists investors in determining the property’s actual state, specifically its risks or dangers. Common issues that investors must be aware of include defective electrical wiring, leaky pipes, and water infiltration through the building shell. These represent threats to the safety of anyone utilizing the property.
Detecting structural faults and concerns is challenging without the proper equipment and knowledge. Having a commercial building inspection requires the help of a professional like a commercial building engineer NJ.
The commercial building inspection engineer evaluates the facility’s primary exterior and interior systems. They also examine relevant property documents, including appraisals, construction plans, maintenance records, and recent capital expenditures. The local township construction office is called to check whether any permits or infractions are outstanding.
After the site inspection and document analysis, the engineer will provide the client with a property condition assessment (PCA) report. The report will include photographs of the engineer’s observations and conclusions, details that can help prospective buyers understand the property’s condition and its needed short- and long-term capital expenditures.
However, choosing a commercial building inspector can be challenging. Investors must consider key variables to facilitate this choice.
The client must confirm that the potential engineer has a valid state license. Employing a certified engineer provides them with a dependable, well-trained, and informed expert.
Membership in national engineering organizations such as NSPE (National Society of Professional Engineers) also demonstrates a commitment to the engineering profession. Additionally, membership in the National Academy of Building Inspection Engineers (NABIE) or certification as a building inspection engineer shows competence and specialization in building inspections.
Hiring a qualified engineer may be expensive, but purchasing a structure with hidden defects can cost more. With a commercial building inspector, the prospective buyer will have a better negotiation position with the seller.
Read the infographic below from Lockatong Engineering to learn further about commercial building inspection in the Garden State.
About Author
