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Pleasants Landing at Lake Anna 349 Pleasant Landing Rd 18,300 SF 100% Leased Retail Building Bumpass, VA 23024 $8,081,289 CAD ($441.60 CAD/SF) 7.83% Cap Rate
Investment Highlights
- 1. Marina tenants providing complete marina services: Sales, Rentals, Repairs, Wet & Dry Storage, Fuel, Launch, Beach and more..
- 3. Restaurant tenant, Pleasants Landing has the largest Restaurant on Lake Anna, seating 186 indoors plus 80 persons on outdoor patio.
- 5. Events, Pleasants Landing is the only outdoor lake front venue on the 25 mile long lake, encompassing 3 counties, providing a covered outdoor stage
- 2. Tremendous upside potential Income of 100 additional Boat Slips, pending approval from Dominion. Application pending, see "Site plan extra docks"
- 4. Recreational Park, Pleasants Landing is 1 of 2 commercial beaches on all of Lake Anna, picnic areas w/grills & pavilions, volleyball, etc. Frequent
- 6. All leases are NNN. Call for more info regard tenant leases.
Executive Summary
Pleasants Landing was purchased by Vallerie Holdings in 2016. This has been an ongoing restoration and development project:
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.
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.
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
18,300 SF
Building Class
C
Year Built/Renovated
1995/2020
Price
$8,081,289 CAD
Price Per SF
$441.60 CAD
Cap Rate
7.83%
NOI
$632,806 CAD
Percent Leased
100%
Building Height
2 Stories
Building FAR
0.06
Lot Size
7.30 AC
Zoning
C2 - General Commercial
Parking
230 Spaces (12.57 Spaces per 1,000 SF Leased)
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 47-11-B2 | Improvements Assessment | $1,041,254 CAD |
| Land Assessment | $1,481,615 CAD | Total Assessment | $2,522,869 CAD |
Property Taxes
Parcel Number
47-11-B2
Land Assessment
$1,481,615 CAD
Improvements Assessment
$1,041,254 CAD
Total Assessment
$2,522,869 CAD
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Presented by
Michael Vallerie
Pleasants Landing at Lake Anna | 349 Pleasant Landing Rd
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