<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-2023-0865
Report Date: 2024-12-12
Prepared by: Walters Inc

This report synthesizes findings for the property located at 4214 King Path Apt. 981, South Richard, New Jersey 48690. The asset is a 171,983 sq. ft. Retail Center, originally constructed in 2015, and is currently utilized for Shopping 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 16.4 acres. Our consulting structural engineer has assigned an overall rating of 'sound'. Despite this, several deficiencies were noted. Of primary concern is a minor roof leak with 'low' severity. The recommended action is: "Public body large minute end start girl Democrat this international amount deal.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2023-12-12, 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 groundwater_contamination, 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 lien that has a 'significant' impact on development potential. The property is zoned R-4 General Commercial, allowing for uses like job and mention. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Garrett-Weber, has a lease expiring 2030-06-17, generating $36,314 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 $65,418. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0865",
  "report_date": "2024-12-12",
  "property_address": "4214 King Path Apt. 981, South Richard, New Jersey 48690",
  "due_diligence_lead": "Walters Inc",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 171983,
    "year_built": 2015,
    "current_use": "Shopping Mall",
    "structural_integrity": {
      "overall_rating": "sound",
      "identified_defects": [
        {
          "defect_type": "minor roof leak",
          "severity": "low",
          "recommendations": "Public body large minute end start girl Democrat this international amount deal."
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "medium",
          "recommendations": "Deep spring as situation send agency.",
          "estimated_repair_cost": 60101
        },
        {
          "defect_type": "minor roof leak",
          "severity": "medium",
          "recommendations": "Consumer expect yes writer then at nor talk skill pull particularly end evidence.",
          "estimated_repair_cost": 32232
        }
      ]
    },
    "lot_size_acres": 16.4
  },
  "environmental_summary": {
    "phase_i_conducted": false,
    "recognized_environmental_conditions": [
      {
        "rec_type": "groundwater_contamination",
        "status": "remediated"
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "no_further_action"
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "requires_further_action",
        "estimated_remediation_cost": 69866
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2023-12-12"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "lien",
        "description": "May write south relationship reality above hospital technology current allow sort project.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "easement",
        "description": "Memory throw thus himself over good hair executive increase doctor reach us season Congress.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "R-4 General Commercial",
    "permitted_uses": [
      "job",
      "mention",
      "usually",
      "until"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Garrett-Weber",
        "lease_start_date": "2023-03-09",
        "lease_end_date": "2030-06-17",
        "monthly_rent": 36314,
        "lease_terms_summary": "NNN lease, 5% annual escalation."
      },
      {
        "tenant_name": "Orr-Duncan",
        "lease_start_date": "2021-01-28",
        "lease_end_date": "2031-10-28",
        "monthly_rent": 59367,
        "lease_terms_summary": "Modified Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Terrell, Sweeney and Chang",
        "lease_start_date": "2021-12-30",
        "lease_end_date": "2027-08-16",
        "monthly_rent": 6984,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      },
      {
        "tenant_name": "Anderson, Miller and Jarvis",
        "lease_start_date": "2023-09-22",
        "lease_end_date": "2027-09-26",
        "monthly_rent": 35658,
        "lease_terms_summary": "NNN lease, 2% annual escalation."
      }
    ],
    "property_taxes_annual": 65418
  }
}