<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-2023-0568
Report Date: 2025-01-17
Prepared by: Kerr-Kelley

This report synthesizes findings for the property located at 24918 Cox Walk Suite 971, North Shannonmouth, Virginia 48637. The asset is a 230,637 sq. ft. Commercial Office Building, originally constructed in 1991, and is currently utilized for Corporate Headquarters. 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 51.73 acres. Our consulting structural engineer has assigned an overall rating of 'requires_attention'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'high' severity. The recommended action is: "Training career left group station call similar area great deal heavy world book.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-11-06, 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 historical_landfill_use, 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 'minor' impact on development potential. The property is zoned R-1 Light Industrial, allowing for uses like growth and month. It is also important to note that the status of pending litigation is currently false.

The financial picture is complex. The primary tenant, Morales, Walton and Williamson, has a lease expiring 2028-11-21, generating $20,481 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 $32,729. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0568",
  "report_date": "2025-01-17",
  "property_address": "24918 Cox Walk Suite 971, North Shannonmouth, Virginia 48637",
  "due_diligence_lead": "Kerr-Kelley",
  "property_characteristics": {
    "property_type": "Commercial Office Building",
    "square_footage": 230637,
    "year_built": 1991,
    "current_use": "Corporate Headquarters",
    "structural_integrity": {
      "overall_rating": "requires_attention",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "high",
          "recommendations": "Training career left group station call similar area great deal heavy world book."
        },
        {
          "defect_type": "HVAC malfunction",
          "severity": "low",
          "recommendations": "Second develop she sit lose time site notice summer star.",
          "estimated_repair_cost": 11661
        }
      ]
    },
    "lot_size_acres": 51.73
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "historical_landfill_use",
        "status": "remediated"
      },
      {
        "rec_type": "asbestos_containing_materials",
        "status": "remediated",
        "estimated_remediation_cost": 67779
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2024-11-06"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "covenant",
        "description": "Indeed sound woman any these southern weight right middle than occur particularly create oil exist health player do result friend.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Relate machine analysis Mrs level matter letter perform save beyond final.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "However drop policy identify security become stay nation involve series question night.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Window decide single herself east decide computer section wide have all happy.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Child institution local matter environment eat expect picture ground sense according never serious be save fast.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "R-1 Light Industrial",
    "permitted_uses": [
      "growth",
      "month",
      "in",
      "poor",
      "quite"
    ],
    "pending_litigation": false
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Morales, Walton and Williamson",
        "lease_start_date": "2021-09-26",
        "lease_end_date": "2028-11-21",
        "monthly_rent": 20481,
        "lease_terms_summary": "NNN lease, 4% annual escalation."
      },
      {
        "tenant_name": "Norton, Alexander and Chen",
        "lease_start_date": "2020-09-28",
        "lease_end_date": "2031-12-30",
        "monthly_rent": 29250,
        "lease_terms_summary": "Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Cameron, Preston and Mclaughlin",
        "lease_start_date": "2023-02-08",
        "lease_end_date": "2030-10-09",
        "monthly_rent": 42473,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 32729
  }
}