I am interested in buying an old tear down gas station, with intent to redevelop as a new gas station and a small smoke shop etc. The lot is 1/2 acre but quite busy intersection hard corner
I would appreciate if anyone can help me with my questions. 1-is it worth investing in this kind of project? , since a lot of gas stations are closing down. 2-How much would tear down will cost 2500sf building? considering removing underground tanks as well.
3-Should we remove existing building before starting to look for construction loan? Or get approved and then remove the existing structure.
I’m an environmental attorney formerly working for major Petrochemical companies on UST cleanups - make sure you do a lot of due diligence - phase 1 and 2s for environmental problems — there is a lot of historical liability that’ll stay with you for a while without insurance or indemnity from bigger pockets