<format type="json">{report_id: string, property_address: {street: string, city: string, state: string, zip_code: string, parcel_id: string optional}, due_diligence_date: date, property_details: {property_type: string, lot_size_sqft: number optional, building_sqft: number optional, year_built: number optional}, environmental_findings: array of {report_type: string, date_of_report: date, consultant: string, findings: array of {contaminant_type: string, location: string, risk_level: string, remediation_required: boolean, estimated_cost: number optional}}, structural_findings: array of {report_type: string, date_of_report: date, consultant: string, issues: array of {issue_description: string, severity: string, recommendations: string, estimated_repair_cost: number optional}}, zoning_compliance: {current_zone: string, permitted_uses: array of string, non_conforming_issues: boolean, notes: string optional}, legal_encumbrances: array of {type: string, description: string, impact_on_property: string, cleared_status: boolean} optional, overall_risk_assessment: {summary_assessment: string, total_estimated_mitigation_cost: number optional, recommendation: string}}</format> <data>MEMORANDUM

TO: Investment Committee
FROM: Due Diligence Team
DATE: 2024-10-05
SUBJECT: Analysis of Property at 987 Salinas Rapids Apt. 447, New Heather, Alabama 42748 (Report ID: DDR-2024-404-Alabama)

This report synthesizes the findings from our comprehensive due diligence on the subject property, a office facility reportedly constructed circa 2007. The site inspection was conducted under favorable weather conditions, which aided the external reviews. The property is currently zoned as M-1 Light Industrial, which appears to align with its historical and intended use.

Environmental assessments, primarily conducted by Glenn, Cardenas and Morris, identified several key issues. The most recent report dated 2023-09-10 highlighted a high risk of Asbestos in the Groundwater (est. cost: $39,808); a moderate risk of VOCs in the Sub-slab vapor (est. cost: $141,836). This follows an initial Phase I that suggested the need for further subsurface investigation.

The title search revealed 2 notable encumbrance(s), of which 1 have been marked as cleared. A standard utility easement along the eastern boundary, for instance, poses minimal impact on future development. Other items are pending review by legal counsel.

In conclusion, our analysis indicates a high risk proceed with caution. The cumulative financial exposure for the identified deficiencies is estimated to be in the region of $181,644, though this figure is preliminary. Based on these findings, our recommendation is as follows: Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.</data>
{
  "report_id": "DDR-2024-404-Alabama",
  "property_address": {
    "street": "987 Salinas Rapids Apt. 447",
    "city": "New Heather",
    "state": "Alabama",
    "zip_code": "42748",
    "parcel_id": "NEW-38760-2517"
  },
  "due_diligence_date": "2024-10-05",
  "property_details": {
    "property_type": "office",
    "lot_size_sqft": 92891,
    "building_sqft": 64233,
    "year_built": 2007
  },
  "environmental_findings": [
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2024-01-07",
      "consultant": "Glenn, Cardenas and Morris",
      "findings": [
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        },
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    },
    {
      "report_type": "Phase II ESA",
      "date_of_report": "2023-12-26",
      "consultant": "Anderson Inc",
      "findings": [
        {
          "contaminant_type": "Asbestos",
          "location": "Groundwater",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 39808
        },
        {
          "contaminant_type": "VOCs",
          "location": "Sub-slab vapor",
          "risk_level": "moderate",
          "remediation_required": true,
          "estimated_cost": 141836
        },
        {
          "contaminant_type": "Asbestos",
          "location": "Sub-slab vapor",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    },
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2023-09-10",
      "consultant": "Doyle Group",
      "findings": [
        {
          "contaminant_type": "None detected",
          "location": "Overall site",
          "risk_level": "low",
          "remediation_required": false
        }
      ]
    }
  ],
  "structural_findings": [
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-02-06",
      "consultant": "Nelson, Mendez and Garza",
      "issues": [
        {
          "issue_description": "Whether challenge property human reality in the foundation.",
          "severity": "minor",
          "recommendations": "Particular company memory television before certainly such term project here hospital."
        }
      ]
    },
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-03-22",
      "consultant": "Ortiz, Smith and Frazier",
      "issues": [
        {
          "issue_description": "Expect training and include happy box language million over in the foundation.",
          "severity": "significant",
          "recommendations": "Pretty consider throughout arm central rise phone point choice interesting plan."
        }
      ]
    }
  ],
  "zoning_compliance": {
    "current_zone": "M-1 Light Industrial",
    "permitted_uses": [
      "gas",
      "sometimes",
      "war",
      "left",
      "medical"
    ],
    "non_conforming_issues": false,
    "notes": "Who level music first."
  },
  "overall_risk_assessment": {
    "summary_assessment": "high_risk_proceed_with_caution",
    "recommendation": "Proceed only with significant seller concessions and a clear remediation plan. Further investigation is advised.",
    "total_estimated_mitigation_cost": 181644
  },
  "legal_encumbrances": [
    {
      "type": "Lien",
      "description": "Course including skill worker ability.",
      "impact_on_property": "significant",
      "cleared_status": true
    },
    {
      "type": "Deed Restriction",
      "description": "Save measure challenge because business enough since.",
      "impact_on_property": "minor",
      "cleared_status": false
    }
  ]
}