<format type="json">{ "property_identifier": "string", "due_diligence_summary_date": "date", "analyst_firm": "string optional", "overall_risk_assessment": "string", "environmental_findings": { "phase1_status": "string", "recognized_environmental_conditions": "list[{rec_type: string, description: string, severity: string, remediation_required: boolean, estimated_cost: number optional}]", "wetlands_impact": "boolean", "hazardous_materials_on_site": "list[string] optional" }, "structural_integrity": { "assessment_date": "date", "overall_condition_rating": "string", "major_structural_issues": "list[{issue_type: string, location: string, repair_recommendation: string, estimated_repair_cost: number optional}]", "ada_compliance_notes": "string optional" }, "lease_analysis_summary": { "total_occupied_sqft": "number", "weighted_average_lease_term_years": "number", "major_tenants": "list[{tenant_name: string, lease_start_date: date, lease_end_date: date, annual_rent: number, rent_escalation_mechanism: string, renewal_options: number, option_term_years: number optional}]", "vacancy_rate_percentage": "number", "tenant_defaults_identified": "boolean" }, "title_and_legal": { "clear_title_confirmed": "boolean", "major_encumbrances": "list[{encumbrance_type: string, description: string, parties_involved: string optional}] optional", "pending_litigation_related_to_property": "boolean", "zoning_classification": "string", "zoning_compliance_confirmed": "boolean" } }</format> <data>**CONFIDENTIAL DUE DILIGENCE MEMORANDUM**

**DATE:** 2025-08-14
**SUBJECT PROPERTY:** 0195 Steven Underpass Suite 629, West Travismouth, New York 38724
**PREPARED BY:** Our internal review team

This report summarizes key findings from the due diligence conducted for the subject property. Our analysis, completed on 2025-08-14, indicates an overall risk profile assessed as **high** for a potential acquisition. The lead analyst, Joseph Miller, noted the complexity of the file.

**Environmental Review:** The Phase I Environmental Site Assessment (ESA) is noted as **completed_with_recommendations**. Several Recognized Environmental Conditions (RECs) were identified. Key among these are a minor issue of soil_contamination with potential remediation costs of $141256, a minor issue of vapor_intrusion_concern. The assessment found no evidence of direct wetlands impact. Standard storage of materials like cost, everyone was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'poor'**. The engineer's report highlighted several capital-intensive repairs. Specifically, facade_water_intrusion in the East wing, lower level requires attention with an estimated repair cost of $180,566. Specifically, facade_water_intrusion in the West wing, lower level requires attention with an estimated repair cost of $192,837. The inspection was briefly delayed due to a minor scheduling conflict with a vendor.

**Lease and Tenancy Analysis:** The property's financial stability appears robust, with tenants occupying 130,844 sqft of a total 138,035 sqft, implying a vacancy of 5.21%. The rent roll is anchored by major tenants such as Ford, Long and Gonzalez and Davila, Sheppard and Thompson. The weighted average lease term (WALT) is approximately 2.9 years, providing stable near-term cash flow. Rent escalation for key tenants is a mix of mechanisms, including fixed_steps. Our review found no evidence of current tenant defaults.

**Title and Legal Matters:** The preliminary title report review indicates that clear title is **not yet confirmed**. The property is zoned C-1 (Enterprise-wide cohesive forecast), and its current use is deemed compliant with local ordinances. We are not aware of any pending litigation concerning the property at this time. </data>
{
  "property_identifier": "0195 Steven Underpass Suite 629, West Travismouth, New York 38724",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "high",
  "environmental_findings": {
    "phase1_status": "completed_with_recommendations",
    "recognized_environmental_conditions": [
      {
        "rec_type": "soil_contamination",
        "description": "Little major hotel draw them evidence executive lose by.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 141256
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Activity room other team pretty modern sort enter without trial.",
        "severity": "minor",
        "remediation_required": false
      }
    ],
    "wetlands_impact": true,
    "hazardous_materials_on_site": [
      "cost",
      "everyone"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "poor",
    "major_structural_issues": [
      {
        "issue_type": "facade_water_intrusion",
        "location": "East wing, lower level",
        "repair_recommendation": "It red heavy spring voice report.",
        "estimated_repair_cost": 180566
      },
      {
        "issue_type": "facade_water_intrusion",
        "location": "West wing, lower level",
        "repair_recommendation": "Indicate wall these majority. Reduce final nice interesting maintain attack.",
        "estimated_repair_cost": 192837
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 130844,
    "weighted_average_lease_term_years": 2.9,
    "major_tenants": [
      {
        "tenant_name": "Ford, Long and Gonzalez",
        "lease_start_date": "2019-04-06",
        "lease_end_date": "2028-02-12",
        "annual_rent": 237402,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 0
      },
      {
        "tenant_name": "Davila, Sheppard and Thompson",
        "lease_start_date": "2019-10-20",
        "lease_end_date": "2026-12-21",
        "annual_rent": 983094,
        "rent_escalation_mechanism": "negotiated_increase",
        "renewal_options": 3
      },
      {
        "tenant_name": "Boyd LLC",
        "lease_start_date": "2020-10-13",
        "lease_end_date": "2029-09-27",
        "annual_rent": 532144,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 2
      },
      {
        "tenant_name": "Jones PLC",
        "lease_start_date": "2022-10-03",
        "lease_end_date": "2026-03-23",
        "annual_rent": 799033,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 1
      }
    ],
    "vacancy_rate_percentage": 5.21,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": false,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "C-1 (Enterprise-wide cohesive forecast)",
    "zoning_compliance_confirmed": true
  }
}