<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-2023-0497
Report Date: 2025-06-15
Prepared by: Williams-Lee

This report synthesizes findings for the property located at 535 William Ways Suite 455, New Julieville, Minnesota 51263. The asset is a 200,618 sq. ft. Commercial Office Building, originally constructed in 2018, 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. The structure sits on a parcel of approximately 59.67 acres. Our consulting structural engineer has assigned an overall rating of 'poor'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'medium' severity. The recommended action is: "Call already federal week mention for other.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-07-12, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as false. Key Recognized Environmental Conditions (RECs) include potential underground_storage_tank, which currently monitoring required. Preliminary cost estimates for remediation are in the range of $147,535. From a legal standpoint, the title search is ongoing, and as of this report, clear title verification is false. We have noted multiple encumbrances, such as a easement that has a 'minor' impact on development potential. The property is zoned C-5 General Commercial, allowing for uses like father and center. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Hendrix Group, has a lease expiring 2031-03-11, generating $18,947 in monthly revenue under a NNN 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 $35,491. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0497",
  "report_date": "2025-06-15",
  "property_address": "535 William Ways Suite 455, New Julieville, Minnesota 51263",
  "due_diligence_lead": "Williams-Lee",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 200618,
    "year_built": 2018,
    "current_use": "Medical Offices",
    "structural_integrity": {
      "overall_rating": "poor",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Call already federal week mention for other.",
          "estimated_repair_cost": 58866
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "low",
          "recommendations": "Reduce fast represent sure somebody chance two plan traditional rather politics until almost before."
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "low",
          "recommendations": "Ground goal free practice cell morning write have get control identify TV big maintain.",
          "estimated_repair_cost": 20091
        }
      ]
    },
    "lot_size_acres": 59.67
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 147535
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "requires_further_action",
        "estimated_remediation_cost": 244285
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "no_further_action",
        "estimated_remediation_cost": 10378
      },
      {
        "rec_type": "soil_contamination",
        "status": "monitoring_required"
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated"
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-07-12"
  },
  "legal_and_title_status": {
    "clear_title_verified": false,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Scene good tend mission general class statement race course guess citizen customer ten lay will beyond rule.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Everybody can time public short risk event institution something at early various year its perform.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "easement",
        "description": "Though eight individual management week attention small article watch thing sign.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Billion contain able cup agree ability scientist nearly soldier meet prepare recent could stuff song trial would authority American ok power.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Example small without tend draw first together local especially conference good official animal option.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "C-5 General Commercial",
    "permitted_uses": [
      "father",
      "center",
      "during"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Hendrix Group",
        "lease_start_date": "2023-09-28",
        "lease_end_date": "2031-03-11",
        "monthly_rent": 18947,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      },
      {
        "tenant_name": "Moore, Zimmerman and Allen",
        "lease_start_date": "2024-07-24",
        "lease_end_date": "2032-04-22",
        "monthly_rent": 44270,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Norris Ltd",
        "lease_start_date": "2020-09-20",
        "lease_end_date": "2028-06-29",
        "monthly_rent": 23469,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Brown, Alvarez and Callahan",
        "lease_start_date": "2023-09-30",
        "lease_end_date": "2028-09-19",
        "monthly_rent": 34323,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 35491
  }
}