Considering Property purchase adjacent to Auto Salvage Junk Yard … Thoughts?

[MARK F.]

We are considering a commercial property purchase to hold & use for expansion of our business. There are currently (3) buildings … a large warehouse, a 4 bay service shop and a small office building on the 4 acre county lot. The asking price seems fair to market.

My biggest concern ... It’s next door to an auto salvage lot that’s been around for 15+ years.

Attorney is placing a Phase 1 ESA approval contingency into our offer.

Let’s speculate for a moment that the property passes either Phase 1 or Phase 2 ESA and we purchase. 15-20 years down the road we're ready to sell.  Maybe the property passes current standards but what if it doesn’t … I could have an essentially worthless property.

Please share any thoughts on this subject. Thanks in advance.