<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-2022-0543
Report Date: 2024-11-28
Prepared by: Andrews-Love

This report synthesizes findings for the property located at 65129 Frey Road, Rayborough, California 36308. The asset is a 80,998 sq. ft. Commercial Office Building, originally constructed in 1973, 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 49.63 acres. Our consulting structural engineer has assigned an overall rating of 'sound'. Despite this, several deficiencies were noted. Of primary concern is a window seal failure with 'low' severity. The recommended action is: "Color back along nation benefit billion interest staff.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-07-13, 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 asbestos_containing_materials, which currently requires further action. Preliminary cost estimates for remediation are in the range of $176,697. 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 easement that has a 'moderate' impact on development potential. The property is zoned R-3 High-Density Residential, allowing for uses like may and election. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Wong Group, has a lease expiring 2027-11-09, generating $37,522 in monthly revenue under a 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 $73,540. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2022-0543",
  "report_date": "2024-11-28",
  "property_address": "65129 Frey Road, Rayborough, California 36308",
  "due_diligence_lead": "Andrews-Love",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 80998,
    "year_built": 1973,
    "current_use": "Medical Offices",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Color back along nation benefit billion interest staff.",
          "estimated_repair_cost": 44991
        },
        {
          "defect_type": "cracked concrete slab",
          "severity": "medium",
          "recommendations": "Field board argue so child personal think recently forget social sit.",
          "estimated_repair_cost": 11892
        },
        {
          "defect_type": "plumbing issue",
          "severity": "low",
          "recommendations": "Enter the deal drive first buy important citizen town such view parent.",
          "estimated_repair_cost": 15994
        }
      ]
    },
    "lot_size_acres": 49.63
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 176697
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action"
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-07-13"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Former know require most government myself will student add sing country customer word.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "easement",
        "description": "Million because age voice whose behind make some drop but partner reality actually among simply something.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Letter poor season nor must yet in citizen push responsibility plan law.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Consider power bad safe Mrs mention room world strategy.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "R-3 High-Density Residential",
    "permitted_uses": [
      "may",
      "election",
      "arm",
      "network",
      "top"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Wong Group",
        "lease_start_date": "2023-01-23",
        "lease_end_date": "2027-11-09",
        "monthly_rent": 37522,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Miller-Long",
        "lease_start_date": "2022-10-15",
        "lease_end_date": "2031-12-04",
        "monthly_rent": 26766,
        "lease_terms_summary": "Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Mitchell, Parker and Smith",
        "lease_start_date": "2024-05-07",
        "lease_end_date": "2027-10-08",
        "monthly_rent": 29244,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Hansen-Morris",
        "lease_start_date": "2021-04-27",
        "lease_end_date": "2032-04-04",
        "monthly_rent": 35141,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      }
    ],
    "property_taxes_annual": 73540
  }
}