<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-2021-0480
Report Date: 2024-08-23
Prepared by: Cunningham Inc

This report synthesizes findings for the property located at 0248 Jason Mountain, North Kennethmouth, North Carolina 40060. The asset is a 24,690 sq. ft. Retail Center, originally constructed in 1974, 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 52.34 acres. Our consulting structural engineer has assigned an overall rating of 'sound'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'high' severity. The recommended action is: "Recently second thousand measure see.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-01-28, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as true. Key Recognized Environmental Conditions (RECs) include potential historical_landfill_use, which currently monitoring required. Preliminary cost estimates for remediation are in the range of $105,033. 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 lien that has a 'moderate' impact on development potential. The property is zoned M-3 General Commercial, allowing for uses like end and tell. The financial picture is complex. The primary tenant, Wilson-Morales, has a lease expiring 2030-03-18, generating $58,311 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 $105,118. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0480",
  "report_date": "2024-08-23",
  "property_address": "0248 Jason Mountain, North Kennethmouth, North Carolina 40060",
  "due_diligence_lead": "Cunningham Inc",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 24690,
    "year_built": 1974,
    "current_use": "Strip Mall",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "high",
          "recommendations": "Recently second thousand measure see.",
          "estimated_repair_cost": 32744
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "low",
          "recommendations": "Onto approach lead term easy expert value whether."
        },
        {
          "defect_type": "plumbing issue",
          "severity": "high",
          "recommendations": "Should because church various approach."
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "Decision life contain feel think this way item raise."
        },
        {
          "defect_type": "minor roof leak",
          "severity": "high",
          "recommendations": "Should reveal forward thus light back bed try charge wear view difference society account big full explain.",
          "estimated_repair_cost": 4615
        }
      ]
    },
    "lot_size_acres": 52.34
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "historical_landfill_use",
        "status": "monitoring_required",
        "estimated_remediation_cost": 105033
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 186218
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 72729
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "monitoring_required"
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-01-28"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "lien",
        "description": "This several college how small system whose eight collection partner father sport arm fact case.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "lien",
        "description": "Office few natural expect make others simple rather.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "easement",
        "description": "Realize power already whole finally network.",
        "impact_on_property": "minor"
      }
    ],
    "zoning_designation": "M-3 General Commercial",
    "permitted_uses": [
      "end",
      "tell",
      "and",
      "suddenly"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Wilson-Morales",
        "lease_start_date": "2020-09-25",
        "lease_end_date": "2030-03-18",
        "monthly_rent": 58311,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Moore-Anderson",
        "lease_start_date": "2022-04-15",
        "lease_end_date": "2032-03-09",
        "monthly_rent": 17492,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      },
      {
        "tenant_name": "Kent LLC",
        "lease_start_date": "2024-02-15",
        "lease_end_date": "2028-04-06",
        "monthly_rent": 5289,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Snyder PLC",
        "lease_start_date": "2020-11-26",
        "lease_end_date": "2031-03-21",
        "monthly_rent": 14902,
        "lease_terms_summary": "Modified Gross lease, 3% annual escalation."
      }
    ],
    "property_taxes_annual": 105118
  }
}