Pleasants Landing was purchased by Vallerie Holdings in 2016. This has been an ongoing restoration and development project: The owner is seeking retirement. The property currently has a cap rate of 7.5%. There are two areas to be considered for additional development: 1. There is 4,660 sqft of upper floor area with superior waterfront views. this area needs to be converted from storage to a commercial use. In addition, in 2017, a 24 ft x 80 ft (1920 sqft) stone stamped concrete patio was installed. This patio was installed with footing to support a 24 ft x 80 ft balcony. We leave it to you to estimate the income potential of this area. 2. We currently have our engineers working on the development of additional docks and boat slips . We are currently seeking permission from Dominion Energy (Owner of Lake Anna) to install (in excess of) an additional 100 boat slips. We currently lease residential boat slips at the rate of $1300 annually and commercial slips at $2300 annually. This amounts to approximately an additional $175,000 of annual revenue. Pleasants Landing is the only event and recreational facility within the 3 counties with waterfront access. This is a 12 acre breathtaking waterfront site with 2,500 ft of water frontage.