Should I do a Phase 1 or inspection on a 4 year old property?
Would you do a phase 1 or inspection on a 4 year old property NNN Starbucks? 

Property had a phase 1 done at construction 4 years ago with no issues at all. Is it necessary to get another one as I am not required to as no bank is involved and it was vacant land prior to Starbucks.

Also would you do an inspection on a property that is 4 years old I am responsible for roof and structure only and roof still has warranty.
[{"id": "imhqam0", "text": "It depends on your risk tolerance. You\u2019ll likely be able to do a phase 1, inspection, and a survey for under 10k. I know people that do all three on every proeprty no matter what and I know guys that don\u2019t worry about it unless there is a reason. Typically you do an inspection to try to get some money off the purchase price for repairs. I\u2019m my opinion it is worth it just to have a piece of mind but if you\u2019re doing a lot of transactions, 10k a deal adds up quickly.", "replies": [], "depth": 1}, {"id": "imijp1e", "text": "Yes, always get a Phase 1. If there is an issue in the future (when you own it); it will be your responsibility; not the previous owner(s).\n\nI would also perform a property inspection; we have found issues with roofs that are under warranty. Roof warranties can be a hassle to manage and you should know when purchasing if there are currently or potentially future issues that you will need to address.", "replies": [{"id": "imitbjh", "text": "A recent phase 1 is part of the documentation you'll want for an \"innocent landowner defense\" if there are any issues down the road.", "replies": [], "depth": 2}, {"id": "imjgxs8", "text": "Yup, I have a contract on a property right now where the current owner bought it cheap out of an estate cash.\n\nHe didn't do a phase I and just assumed the alderman would approve a 50 unit apartment building there. \n\nWell turns out not only will the alderman not approve a big ass apartment building there, but part of the site used to have a electric substation in the basement 100 years ago which is a massive risk of PCBs, one of the worst contaminants that you can have. As if that weren't enough, the neighboring building has been a plating factory for 87 years. It seems likely, unless the Phase II has some downright miraculous results, that this property will end up with a deed restriction prohibiting any sort of residential development in perpetuity.", "replies": [], "depth": 2}], "depth": 1}, {"id": "imipmo2", "text": "Both", "replies": [], "depth": 1}, {"id": "imiufto", "text": "If you are going to be getting a commercial mortgage, your Lender will likely require a Survey, Phase I, and Property Condition Report. Sometimes they only have certain approved providers and/or need to order these themselves, so you should talk to your Lender before ordering any. If you are purchasing all cash, I would still recommend getting each on your own dime.", "replies": [], "depth": 1}, {"id": "in4k5du", "text": "How much does a phase 1 cost\u2026$2.5k or so?? You\u2019re buying what\u2019s likely a $1M+ property and those basic DD costs have no effect on returns. The fact your sweating those costs tells me your undercapitalized from the get go", "replies": [], "depth": 1}]