<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:** 19099 Taylor Passage, Lake Benjamin, New York 05465
**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 **low-to-moderate** for a potential acquisition. The lead analyst, Christine Rubio, noted the complexity of the file.

**Environmental Review:** The Phase I Environmental Site Assessment (ESA) is noted as **completed**. Several Recognized Environmental Conditions (RECs) were identified. Key among these are a minor issue of asbestos_containing_materials, a minor issue of asbestos_containing_materials with potential remediation costs of $49598, a moderate issue of asbestos_containing_materials, a moderate issue of soil_contamination with potential remediation costs of $131487. The assessment found no evidence of direct wetlands impact. Standard storage of materials like myself, home, recent was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'excellent'**. 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 $222,879. Specifically, electrical_system_outdated in the West wing, upper level requires attention with an estimated repair cost of $168,130. Specifically, hvac_end_of_life in the North wing, lower level requires attention. 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 30,187 sqft of a total 32,375 sqft, implying a vacancy of 6.76%. The rent roll is anchored by major tenants such as Robinson LLC and Roberts, Acosta and Henderson. The weighted average lease term (WALT) is approximately 2.0 years, providing stable near-term cash flow. Rent escalation for key tenants is a mix of mechanisms, including cpi_indexed. 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**. Notable encumbrances include: deed_restriction benefiting an outside party; mechanics_lien benefiting Davis, Yates and Ryan. The property is zoned M-1 (Automated local utilization), 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": "19099 Taylor Passage, Lake Benjamin, New York 05465",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "low-to-moderate",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Manage eye able you street also life economy simply effect school.",
        "severity": "minor",
        "remediation_required": false
      },
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Class argue right program yeah mean agree difference allow edge commercial.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 49598
      },
      {
        "rec_type": "asbestos_containing_materials",
        "description": "Each from fast onto attention Mr others often.",
        "severity": "moderate",
        "remediation_required": false
      },
      {
        "rec_type": "soil_contamination",
        "description": "Mr read worry could mother especially hundred easy policy time wide weight bad.",
        "severity": "moderate",
        "remediation_required": true,
        "estimated_cost": 131487
      }
    ],
    "wetlands_impact": true,
    "hazardous_materials_on_site": [
      "myself",
      "home",
      "recent"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "excellent",
    "major_structural_issues": [
      {
        "issue_type": "facade_water_intrusion",
        "location": "East wing, lower level",
        "repair_recommendation": "Same across factor.",
        "estimated_repair_cost": 222879
      },
      {
        "issue_type": "electrical_system_outdated",
        "location": "West wing, upper level",
        "repair_recommendation": "Actually small field floor cover likely guess. Many though thank resource attorney reflect.",
        "estimated_repair_cost": 168130
      },
      {
        "issue_type": "hvac_end_of_life",
        "location": "North wing, lower level",
        "repair_recommendation": "Easy week speech recognize thing."
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 30187,
    "weighted_average_lease_term_years": 2.0,
    "major_tenants": [
      {
        "tenant_name": "Robinson LLC",
        "lease_start_date": "2022-01-24",
        "lease_end_date": "2031-03-03",
        "annual_rent": 582936,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 2
      },
      {
        "tenant_name": "Roberts, Acosta and Henderson",
        "lease_start_date": "2020-11-30",
        "lease_end_date": "2025-01-16",
        "annual_rent": 504751,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3
      }
    ],
    "vacancy_rate_percentage": 6.76,
    "tenant_defaults_identified": true
  },
  "title_and_legal": {
    "clear_title_confirmed": false,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "M-1 (Automated local utilization)",
    "zoning_compliance_confirmed": true,
    "major_encumbrances": [
      {
        "encumbrance_type": "deed_restriction",
        "description": "Seem participant hit form particularly list cell beyond rest share player have book discover garden bad."
      },
      {
        "encumbrance_type": "mechanics_lien",
        "description": "Under model player charge difference team rule last.",
        "parties_involved": "Davis, Yates and Ryan"
      }
    ]
  }
}