<format type="json">{property_id: string, report_date: date, property_address: string, due_diligence_lead: string, property_characteristics: {property_type: string, square_footage: number, year_built: number, lot_size_acres: number optional, current_use: string, structural_integrity: {overall_rating: string, identified_defects: list[{defect_type: string, severity: string, estimated_repair_cost: number optional, recommendations: string}]}}, environmental_summary: {phase_i_conducted: boolean, recognized_environmental_conditions: list[{rec_type: string, status: string, estimated_remediation_cost: number optional}], hazardous_materials_present: boolean, environmental_report_date: date}, legal_and_title_status: {clear_title_verified: boolean, encumbrances: list[{encumbrance_type: string, description: string, impact_on_property: string}], zoning_designation: string, permitted_uses: list[string], pending_litigation: boolean optional}, financial_overview: {current_leases: list[{tenant_name: string, lease_start_date: date, lease_end_date: date, monthly_rent: number, lease_terms_summary: string}] optional, property_taxes_annual: number optional} optional}</format> <data>INTERNAL MEMORANDUM: Due Diligence Synthesis Report
Reference ID: PROP-DD-2021-0718
Report Date: 2025-02-04
Prepared by: Miller and Sons

This report synthesizes findings for the property located at 2535 Michele Courts, Dorisville, Kentucky 01654. The asset is a 135,867 sq. ft. Commercial Office Building, originally constructed in 2013, and is currently utilized for Medical Offices. The project team's initial site walk was completed without incident, though weather conditions were less than ideal. Our consulting structural engineer has assigned an overall rating of 'poor'. Despite this, several deficiencies were noted. Of primary concern is a plumbing issue with 'high' severity. The recommended action is: "Study his window little education feeling writer care against evening result personal.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-01-29, indicates that a Phase I ESA was not conducted. The presence of hazardous materials on-site has been confirmed as false. Key Recognized Environmental Conditions (RECs) include potential asbestos_containing_materials, which currently requires further action. Preliminary cost estimates for remediation are in the range of $215,871. From a legal standpoint, the title search is ongoing, and as of this report, clear title verification is true. We have noted multiple encumbrances, such as a deed_restriction that has a 'significant' impact on development potential. The property is zoned M-5 Light Industrial, allowing for uses like student and only. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Ward-Brown, has a lease expiring 2029-03-15, generating $25,353 in monthly revenue under a Modified Gross lease. The team is still reviewing the full rent roll provided by the seller's agent. The annual property tax burden was last assessed at $119,608. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0718",
  "report_date": "2025-02-04",
  "property_address": "2535 Michele Courts, Dorisville, Kentucky 01654",
  "due_diligence_lead": "Miller and Sons",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 135867,
    "year_built": 2013,
    "current_use": "Medical Offices",
    "structural_integrity": {
      "overall_rating": "poor",
      "identified_defects": [
        {
          "defect_type": "plumbing issue",
          "severity": "high",
          "recommendations": "Study his window little education feeling writer care against evening result personal."
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Everyone near form might morning could me enjoy if medical ball less staff last police every music since."
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "medium",
          "recommendations": "Become style his there think former page kind any ability.",
          "estimated_repair_cost": 58932
        }
      ]
    }
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 215871
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 90491
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated",
        "estimated_remediation_cost": 128442
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "remediated"
      },
      {
        "rec_type": "historical_landfill_use",
        "status": "remediated",
        "estimated_remediation_cost": 127925
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-01-29"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "deed_restriction",
        "description": "Try win data paper ground base believe federal manager change role check significant medical where.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Such understand front young weight strategy pattern address.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Material mean key simply guess notice treatment power.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Tough activity compare speak within specific create member eye stay rather once determine society your mind sort vote.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-5 Light Industrial",
    "permitted_uses": [
      "student",
      "only",
      "red",
      "necessary",
      "level"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Ward-Brown",
        "lease_start_date": "2023-05-28",
        "lease_end_date": "2029-03-15",
        "monthly_rent": 25353,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Bates-Doyle",
        "lease_start_date": "2023-11-24",
        "lease_end_date": "2032-07-04",
        "monthly_rent": 56720,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      },
      {
        "tenant_name": "Williams, Grant and Jennings",
        "lease_start_date": "2020-10-30",
        "lease_end_date": "2030-02-25",
        "monthly_rent": 6336,
        "lease_terms_summary": "Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 119608
  }
}