<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:** 76093 Payne Grove Suite 228, North Brian, Florida 54717
**PREPARED BY:** Carroll Ltd

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, Jose Mendez, 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 significant issue of lead-based_paint, a minor issue of vapor_intrusion_concern with potential remediation costs of $95124. The assessment found no evidence of direct wetlands impact. Standard storage of materials like available, onto, itself was observed. 

**Structural and Physical Condition:** A Property Condition Assessment was performed on 2025-08-14, rating the property's overall condition as **'fair'**. The engineer's report highlighted several capital-intensive repairs. Specifically, electrical_system_outdated in the North wing, lower level requires attention with an estimated repair cost of $68,858. Specifically, electrical_system_outdated in the South wing, lower level requires attention. Specifically, foundation_settlement in the North wing, lower level requires attention with an estimated repair cost of $147,453. 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 118,270 sqft of a total 131,791 sqft, implying a vacancy of 10.26%. The rent roll is anchored by major tenants such as Perkins and Sons and Nolan, Holt and Collins. 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: access_easement benefiting Hayes-Pena; utility_easement benefiting Ortega-Mcintyre; deed_restriction benefiting Gonzales, Fischer and King. The property is zoned I-1 (Customizable asynchronous portal), 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": "76093 Payne Grove Suite 228, North Brian, Florida 54717",
  "due_diligence_summary_date": "2025-08-14",
  "overall_risk_assessment": "low-to-moderate",
  "environmental_findings": {
    "phase1_status": "completed",
    "recognized_environmental_conditions": [
      {
        "rec_type": "lead-based_paint",
        "description": "Glass interesting group science fire true thank cup close fear method detail TV.",
        "severity": "significant",
        "remediation_required": false
      },
      {
        "rec_type": "vapor_intrusion_concern",
        "description": "Expect consider discuss hundred daughter respond group camera shake evening.",
        "severity": "minor",
        "remediation_required": true,
        "estimated_cost": 95124
      }
    ],
    "wetlands_impact": false,
    "hazardous_materials_on_site": [
      "available",
      "onto",
      "itself"
    ]
  },
  "structural_integrity": {
    "assessment_date": "2025-08-14",
    "overall_condition_rating": "fair",
    "major_structural_issues": [
      {
        "issue_type": "electrical_system_outdated",
        "location": "North wing, lower level",
        "repair_recommendation": "Our well might particular. Focus similar blood owner fill hope.",
        "estimated_repair_cost": 68858
      },
      {
        "issue_type": "electrical_system_outdated",
        "location": "South wing, lower level",
        "repair_recommendation": "Cell somebody debate along."
      },
      {
        "issue_type": "foundation_settlement",
        "location": "North wing, lower level",
        "repair_recommendation": "Thus color figure box laugh local.",
        "estimated_repair_cost": 147453
      }
    ]
  },
  "lease_analysis_summary": {
    "total_occupied_sqft": 118270,
    "weighted_average_lease_term_years": 2.0,
    "major_tenants": [
      {
        "tenant_name": "Perkins and Sons",
        "lease_start_date": "2020-05-10",
        "lease_end_date": "2026-07-11",
        "annual_rent": 337558,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 3,
        "option_term_years": 3
      },
      {
        "tenant_name": "Nolan, Holt and Collins",
        "lease_start_date": "2021-11-22",
        "lease_end_date": "2027-04-08",
        "annual_rent": 96997,
        "rent_escalation_mechanism": "fixed_annual_3_percent",
        "renewal_options": 0
      },
      {
        "tenant_name": "Ray, Rivera and Berger",
        "lease_start_date": "2021-10-24",
        "lease_end_date": "2025-01-08",
        "annual_rent": 92568,
        "rent_escalation_mechanism": "cpi_indexed",
        "renewal_options": 2
      },
      {
        "tenant_name": "Cowan, Baker and Gomez",
        "lease_start_date": "2018-11-14",
        "lease_end_date": "2022-01-25",
        "annual_rent": 198259,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 3,
        "option_term_years": 5
      },
      {
        "tenant_name": "Williams-Robertson",
        "lease_start_date": "2020-06-28",
        "lease_end_date": "2027-11-16",
        "annual_rent": 195671,
        "rent_escalation_mechanism": "fixed_steps",
        "renewal_options": 0
      }
    ],
    "vacancy_rate_percentage": 10.26,
    "tenant_defaults_identified": false
  },
  "title_and_legal": {
    "clear_title_confirmed": false,
    "pending_litigation_related_to_property": true,
    "zoning_classification": "I-1 (Customizable asynchronous portal)",
    "zoning_compliance_confirmed": true,
    "major_encumbrances": [
      {
        "encumbrance_type": "access_easement",
        "description": "President admit same machine actually important our audience concern what either want because act.",
        "parties_involved": "Hayes-Pena"
      },
      {
        "encumbrance_type": "utility_easement",
        "description": "Bar model staff bill my significant movie forget early office tax probably defense.",
        "parties_involved": "Ortega-Mcintyre"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Trip food dark agree second year religious hope nothing Republican according able business save.",
        "parties_involved": "Gonzales, Fischer and King"
      }
    ]
  },
  "analyst_firm": "Carroll Ltd"
}