I only know apartments. Most standard Phase I reports will run between $2,000 to $2,500. This price should cover the basics of a Phase I report including asbestos sampling, radon sampling, title and environmental database searches. However, if the site was previously a potential hazardous waste generator, your lender or the Phase I consultant may require a Phase II if UST’s (underground storage tanks) or other issues are found. These can get expensive ? drilling test wells alone may cost in excess of $10,000. Also, if the property sits in an area that has other sources of potential contamination, it may force YOU to order a Phase II even if your property isn?t the contaminator.
I am getting ready to order a phase 1 environmental site survey. How much have you all paid for these and how do they calculate the price? I have one for this property that is about 10 years old, but cannot find any trace of the company that did the old report. This property has been used for truck repair in the past (but not in the last 10 years) but there were no problems noted in the old report. About 6500 SF on 1/2 acre, industrial park type setting.
Well, I’ll also agree with the $2000 - $2500 figure. A friend of mine got one done for $1100 once but that was by a guy who worked out of his basement. Go figure.
Posted by ray@lcorn on March 05, 2003 at 22:32:47:
Pete,
My experience mirrors Roberts… a Phase 1 should not run over $2500.
I just paid for Phase IIs and closure plans on two old car dealerships. On one we paid about $10,000 which included the removal of a 250 gal. used oil tank (and the state reimbursed us $5,000). The other cost $15,000 just to verify the remediation the seller (at a cost of over $50,000) had already done was still okay. That one hurt.
It’s not the size of the parcel that runs the price up. Its prior use, and the number of reported events on neighboring parcels.
The whole process is really a paper chase through about a dozen databases. The Phase 1 report documents and catalogs the prior records and makes a recommendation of any other action needed, like further testing, which is a Phase II. The Phase II is the actual borings and sample tests, and a recommended plan of remediation which may include soil removal, and in some cases monitoring wells. Phase III is tank removal and closure.
The environmental firm will not certify the site clean, ever. They will attest to work done and lab results, but disavow any responsibility that they found everything or cured anything.