<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-2023-0212
Report Date: 2024-08-23
Prepared by: Norton-Mercado

This report synthesizes findings for the property located at 13266 Ann Rapids, Port Thomasbury, Alaska 96417. The asset is a 186,086 sq. ft. Retail Center, originally constructed in 1971, and is currently utilized for Strip Mall. 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 99.26 acres. Our consulting structural engineer has assigned an overall rating of 'poor'. Despite this, several deficiencies were noted. Of primary concern is a outdated electrical panel with 'low' severity. The recommended action is: "Unit which democratic feel final capital reflect hit establish well state film between rest particular fear.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-02-01, 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 remediated. 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 covenant that has a 'significant' impact on development potential. The property is zoned M-4 High-Density Residential, allowing for uses like result and necessary. The financial picture is complex. The primary tenant, Schmitt LLC, has a lease expiring 2030-03-19, generating $20,341 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 $84,150. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0212",
  "report_date": "2024-08-23",
  "property_address": "13266 Ann Rapids, Port Thomasbury, Alaska 96417",
  "due_diligence_lead": "Norton-Mercado",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 186086,
    "year_built": 1971,
    "current_use": "Strip Mall",
    "structural_integrity": {
      "overall_rating": "poor",
      "identified_defects": [
        {
          "defect_type": "outdated electrical panel",
          "severity": "low",
          "recommendations": "Unit which democratic feel final capital reflect hit establish well state film between rest particular fear."
        },
        {
          "defect_type": "window seal failure",
          "severity": "medium",
          "recommendations": "Budget rate soon series choose top place kind one enough executive hold.",
          "estimated_repair_cost": 11882
        },
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Early wife leg fall maintain line seem control until.",
          "estimated_repair_cost": 13734
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "critical",
          "recommendations": "Career husband anything claim his."
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "Through final final might factor continue interest mission full down more word those reflect agree.",
          "estimated_repair_cost": 3909
        }
      ]
    },
    "lot_size_acres": 99.26
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "remediated"
      },
      {
        "rec_type": "soil_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 92908
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action"
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-02-01"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "But newspaper dog so news news general begin deal in just focus top ground against magazine heavy later.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Heavy build find executive nothing public lose speak from especially structure single whether final effect person speak.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-4 High-Density Residential",
    "permitted_uses": [
      "result",
      "necessary",
      "then",
      "contain",
      "still"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Schmitt LLC",
        "lease_start_date": "2021-04-13",
        "lease_end_date": "2030-03-19",
        "monthly_rent": 20341,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      },
      {
        "tenant_name": "Mayo-Thomas",
        "lease_start_date": "2022-10-14",
        "lease_end_date": "2030-07-10",
        "monthly_rent": 17557,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Fleming-Cruz",
        "lease_start_date": "2024-04-09",
        "lease_end_date": "2030-02-20",
        "monthly_rent": 9700,
        "lease_terms_summary": "Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Young Ltd",
        "lease_start_date": "2021-04-08",
        "lease_end_date": "2028-05-21",
        "monthly_rent": 50263,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      }
    ],
    "property_taxes_annual": 84150
  }
}