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Updated almost 6 years ago,
Gas Station with Contamination
I have an old gas station that has LUSTS or Leaking Underground Storage Tanks, the State is aware of it, it's been extensively tested for a few years now, the damage is done. It's covered by the State fund for $2mm that can be reimbursed for clean up. I'm wondering if there's any hard data on how many stations have had to be cleaned up in the last 5 years? How many exceeded $2mm? And if there are any lenders that specialize in these types of properties? I'd like to just clean it up and lease it or sell it.