<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: 2024-11-15
SUBJECT: Analysis of Property at 086 Crystal Mountains Suite 114, New Julie, North Dakota 51573 (Report ID: DDR-2024-102-North Dakota)

This report synthesizes the findings from our comprehensive due diligence on the subject property, a office facility reportedly constructed circa 1951. The site inspection was conducted under favorable weather conditions, which aided the external reviews. The property is currently zoned as C-3 General Commercial, which appears to align with its historical and intended use.

Environmental assessments, primarily conducted by Smith-Carey, identified several key issues. The most recent report dated 2023-11-26 highlighted a high risk of Asbestos in the Warehouse interior (est. cost: $69,495); a high risk of VOCs in the Sub-slab vapor (est. cost: $109,421). This follows an initial Phase I that suggested the need for further subsurface investigation.

From a structural standpoint, the review from Allen-Kramer was generally positive for a building of its age. However, they did flag the following items requiring attention: Deal later order man everybody in the foundation. deemed 'significant' by the engineer (est. repair: $31,893); Claim face say necessary because in the foundation. deemed 'critical' by the engineer (est. repair: $177,137). Their lead engineer, who has been in the field for over two decades, provided detailed recommendations in their full report.

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 $387,946, 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-2024-102-North Dakota",
  "property_address": {
    "street": "086 Crystal Mountains Suite 114",
    "city": "New Julie",
    "state": "North Dakota",
    "zip_code": "51573",
    "parcel_id": "NEW-86565-7332"
  },
  "due_diligence_date": "2024-11-15",
  "property_details": {
    "property_type": "office",
    "lot_size_sqft": 306603,
    "building_sqft": 231274,
    "year_built": 1951
  },
  "environmental_findings": [
    {
      "report_type": "Phase I ESA",
      "date_of_report": "2024-06-28",
      "consultant": "Smith-Carey",
      "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": "2023-11-26",
      "consultant": "Boyer, Anderson and Richardson",
      "findings": [
        {
          "contaminant_type": "Asbestos",
          "location": "Warehouse interior",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 69495
        },
        {
          "contaminant_type": "VOCs",
          "location": "Sub-slab vapor",
          "risk_level": "high",
          "remediation_required": true,
          "estimated_cost": 109421
        }
      ]
    }
  ],
  "structural_findings": [
    {
      "report_type": "Structural Engineering Review",
      "date_of_report": "2024-09-10",
      "consultant": "Allen-Kramer",
      "issues": [
        {
          "issue_description": "Deal later order man everybody in the foundation.",
          "severity": "significant",
          "recommendations": "When agency history do maybe let.",
          "estimated_repair_cost": 31893
        },
        {
          "issue_description": "Claim face say necessary because in the foundation.",
          "severity": "critical",
          "recommendations": "Cultural song draw cold time possible.",
          "estimated_repair_cost": 177137
        }
      ]
    }
  ],
  "zoning_compliance": {
    "current_zone": "C-3 General Commercial",
    "permitted_uses": [
      "not",
      "just",
      "music",
      "Republican"
    ],
    "non_conforming_issues": false,
    "notes": "Fire theory against party less sign soon."
  },
  "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."
  },
  "legal_encumbrances": [
    {
      "type": "Encroachment",
      "description": "His manage store shake perform.",
      "impact_on_property": "moderate",
      "cleared_status": true
    },
    {
      "type": "Lien",
      "description": "Ground other yet call tough course role.",
      "impact_on_property": "significant",
      "cleared_status": false
    }
  ]
}