Project Canoe — Acquisition Opportunity

The Opportunity

THE ASSET.
THE UPSIDE.

A fully operational RV and cabin resort in one of Pennsylvania's premier lake recreation destinations — generating real in-place income, running at full seasonal occupancy, and priced below where the numbers take it. Four independent reasons this asset is worth a serious look.

01

In-Place Income from Day One

83 seasonal sites at 100% occupancy generating committed seasonal revenue before the buyer takes ownership. The seasonal base is not projected — it is contracted. Combined with transient RV, 14 cabin rentals, and ancillary revenue from the camp store and amenities, the asset produces real cash flow from the moment of close.

02

Rates 37–75% Below Comparable Parks

Current seasonal rates of $2,400–$2,750 compare to comparable parks within 10–35 miles running $3,275–$4,800. The gap is verified from the offering data — not estimated. A buyer who simply moves rates toward market over three years, without adding a single site, adds $33,000–$130,000+ to annual NOI. The revenue growth story is rate-driven, not volume-dependent.

03

Five Value-Creation Levers — Each Independent

Rate growth toward comparable park comps · Electric billback confirmation (park is master-metered; billback to residents unconfirmed — a diligence item with material NOI upside) · Digital booking and marketing infrastructure (seller ran zero marketing spend in 2026) · Ancillary revenue build-out across store, storage, and activities · Glamping or additional sites on two expansion parcels that convey with the sale.

04

Strong Regional Location with Expansion Land

Located near Pennsylvania's largest natural lake — with Pittsburgh 95 miles, Erie 45 miles, and Cleveland 105 miles. The property sits on four parcels totaling ±47.87 acres, with two additional parcels offering expansion potential for glamping units, additional RV sites, or amenity upgrades. The seller has addressed the majority of deferred maintenance. The next owner inherits a clean infrastructure base.

The Upside

IN PLACE TODAY
VS. THE POTENTIAL.

The asset generates real income at current below-market rates with zero marketing investment. Here is what the same asset looks like under active management.

Current Operations — In Place Today

$353K

Normalized Year 1 revenue · Base case · No growth assumed

83 seasonal sites · 100% occupied · Contracted revenue
Seasonal rates $2,400–$2,750 · Well below market
$0 marketing spend in 2026 · No PMS in use
Electric master-metered · Billback not yet confirmed
Store, laundry, activities — minimal monetization
Expansion parcels — no development initiated

Under Active Management — Rate Growth + Ops

$432K

Projected Year 5 revenue · Conservative rate growth only

Rate growth to $3,000 avg seasonal → +$33K+ annual revenue
Electric billback confirmed → +$20–40K NOI upside
PMS + direct booking → 15–25% transient occupancy lift
Ancillary build-out → store, storage, activities revenue
Glamping on expansion parcels → new revenue stream
Year 5 NOI $220K+ · Stabilized at active management rates

NOI Scenario

Current (Base)

With Rate Growth

Upside Delta

Year 1 — No changes

$164,200

—

Year 2 — Rate growth +10%

$164,200

$193,836

+$29,636

Year 3 — Rate growth +5%

$164,200

$207,417

+$43,217

Year 5 — Stabilized + billback

$164,200

$260,000+

+$95,800+

Illustrative only · Based on Emanay normalized underwriting model · Full financial detail available under NDA

Why Buy

THREE REASONS
TO ACT.

Each pillar stands independently. A buyer needs only one of them to work to have a strong acquisition. All three working is the upside case.

Project Canoe is a 118-site RV and cabin resort is being offered at a price that produces a positive going-in cap rate on normalized expenses, with 83 seasonal sites contracted at full occupancy, rates materially below regional comparables, and five independent value-creation levers available to the buyer from Day 1. Full financial detail, underwriting model, and diligence package available under NDA.

01

Real In-Place Income — Not Projections

83 seasonal sites at 100% occupancy with committed seasonal revenue. 2026 YTD actuals through mid-June show $267,637 in revenue and $198,961 in NOI — a partial season that confirms the seasonal base is real. The asset generates cash today. A buyer is not underwriting projections; they are verifying actuals.

02

Below-Market Rates — Documented Revenue Upside

Current seasonal rates of $2,400–$2,750 compare to verified comparable parks at $3,275–$4,800 within 10–35 miles. The rate gap is not an estimate — it is documented in the offering memorandum's own comparables table. A buyer who moves rates toward market adds $33,000–$130,000+ to annual NOI over the hold period without adding a site or spending on construction.

03

Clean Infrastructure — Deferred Maintenance Addressed

The current owner acquired in November 2024 and has addressed the majority of deferred infrastructure maintenance — well pumps, site improvements, and infrastructure upgrades confirmed in the 2026 YTD CapEx records. A buyer inherits a clean physical plant with new infrastructure, not a deferred maintenance backlog. The hard work on the physical asset has been done.

The Property

118 Sites · ±47.87 Acres · 4 Parcels

Full hookup RV resort and cabin campground in northwestern Pennsylvania. Electric 30/50 amp (master-metered), city water, septic sewer. Pool, fishing pond, bathhouse, laundry, camp store, WiFi. Two additional expansion parcels convey with the sale. Full address disclosed under NDA.

104 full-hookup RV sites (30/50 amp)
14 cabins (4 seasonal · 10 short-term nightly)
Amenities: pool · fishing pond · bathhouse · laundry · camp store
Expansion land: 2 additional parcels available for glamping / new sites

The Financials

$353K Rev · $164K NOI · Normalized Base Case

All figures from Emanay's normalized underwriting model, sourced from seller-provided 2026 YTD P&L, the offering memorandum, and the verified rent roll. No clean T-12 exists — seller acquired November 2024. Full financial detail available under NDA.

Year 1 Revenue: $353,000 (normalized base case)
Year 1 NOI: $164,200 (normalized, all expenses included)
2026 YTD Revenue: $267,637 (Jan–mid Jun actuals, unaudited)
Year 5 NOI: $220,049 (conservative rate growth only)
Seller rep: $388,300 revenue for full year 2026

Asking Price

$3,000,000 — Offered Exclusively Through Emanay

The property is offered at $2,200,000 — a price that produces a positive going-in cap rate on normalized underwriting. Seller financing available: $150,000 seller second at 5% interest only over 5 years. 60-day due diligence period. Target close October 1, 2026.

Negotiated price: $2,200,000
Seller second: $150,000 @ 5% IO · 5-year balloon
Earnest money: $50,000 (refundable through 60-day DD period)
Target close: October 1, 2026

Location

Northwestern Pennsylvania — 3 Major Markets

Located near Pennsylvania's largest natural lake — in a consistent seasonal tourism destination surrounded by state parks, lakes, and family recreation. Strong regional drive-market access from three major metros.

Pittsburgh: 95 miles
Erie: 45 miles
Cleveland: 105 miles
Surrounded by state parks · lake recreation · family tourism

Acquisition Targets

ACTIVE DEAL.
IMMEDIATE DEPLOYMENT.

All inquiries must be directed exclusively through Emanay Advisors. No direct contact with the property, staff, or seller without prior written authorization. NDA required before CIM access.

Year 1 Revenue — Normalized

Normalized base case from Emanay's independent underwriting model. Seller represents $388,300 for full year 2026. 2026 YTD actuals Jan–mid Jun: $267,637. Full monthly model in CIM.

$164K

Year 1 NOI — Normalized

Normalized Year 1 NOI after all expenses — payroll, utilities, R&M, taxes, insurance, and reserves. The OM overstates NOI. Emanay's independent model is in the full CIM.

60 Days

Due Diligence Period

60-day diligence period from PSA execution. $25K initial earnest fully refundable through DD. Full access to seller financials, rent roll, utility bills, and physical inspection upon PSA execution.

Presented By

EMANAY RV VENTURES.
EXCLUSIVE ACCESS.

Emanay RV Ventures has the exclusive access to Project Canoe. All inquiries, offers, and diligence requests must be directed through Emanay. No direct contact with the property, staff, or seller without prior written authorization.

Emanay Advisors manages the full transaction process — buyer qualification, NDA execution, CIM distribution, site visits, offer evaluation, and close coordination. Qualified buyers receive the full CIM including the live underwriting model, normalized financials, DD checklist, and PSA term sheet.

⬆

EmanayAdvisors

Exclusive Advisor

Transaction management, buyer qualification, NDA execution, CIM distribution, offer coordination, and close management. All communications through Emanay. Contact: alex@emanay.io · +1 (786) 835-7342.

⬆

EmanayLaw Group

Transaction Legal

PSA drafting and negotiation, NDA execution, and transaction legal infrastructure. David Rosati, Emanay Law Group PLLC. All buyer-side communications routed through LX Realty brokerage.

⬆

EmanayAccounting

Financial Diligence

Independent normalized underwriting model (V10.2.1 · ALL PASS verified), financial packaging, and diligence support. All figures independently modeled from seller-provided actuals — not taken from the OM at face value.

⬆

EmanayRealty

Real Estate Coordination

Property access, site visit scheduling (through Campfire Capital Group per listing protocol), market evaluation, CapEx assessment, and buyer-side real estate coordination. All visits pre-authorized by Emanay.

Transaction Process

FROM NDA
TO CLOSE.

Qualified buyers follow a structured four-step process. All communications through Emanay Advisors. No contact with the property, management, or seller without prior written authorization.

01

Execute NDA · Receive Full CIM

Qualified buyers execute an NDA with Emanay Advisors and receive the full Project Canoe CIM — live underwriting model, normalized financials, DD checklist, property photos, rent roll summary, and PSA term sheet. No obligation at this stage.

02

Site Visit · Management Meeting

Qualified parties may schedule a site visit and management meeting through Emanay Advisors. All visits coordinated with Campfire Capital Group. No direct contact with on-site staff or ownership without prior authorization.

03

Submit Offer · Execute PSA

Offers submitted through Emanay Advisors with proof of funds or lender term sheet. PSA executed at agreed terms. $25,000 initial earnest deposit — fully refundable through the 60-day diligence period. No earnest at risk until DD period expires.

04

60-Day Diligence · Close Oct 1

60-day due diligence from PSA execution. Full access to financials, rent roll, utility bills, tax records, insurance, title, and physical inspection. Second $25K earnest deposits at DD expiry. Target close October 1, 2026.

PROJECT
CANOE

In-Place Income from Day One

Rates 37–75% Below Comparable Parks

Five Value-Creation Levers — Each Independent

Strong Regional Location with Expansion Land

Real In-Place Income — Not Projections

Below-Market Rates — Documented Revenue Upside

Clean Infrastructure — Deferred Maintenance Addressed

The Property

118 Sites · ±47.87 Acres · 4 Parcels

The Financials

$353K Rev · $164K NOI · Normalized Base Case

Asking Price

$3,000,000 — Offered Exclusively Through Emanay

Location

Northwestern Pennsylvania — 3 Major Markets

Year 1 Revenue — Normalized

Year 1 NOI — Normalized

Due Diligence Period

Execute NDA · Receive Full CIM

Site Visit · Management Meeting

Submit Offer · Execute PSA

60-Day Diligence · Close Oct 1

INTERESTED IN
PROJECT CANOE?

PROJECTCANOE

In-Place Income from Day One

Rates 37–75% Below Comparable Parks

Five Value-Creation Levers — Each Independent

Strong Regional Location with Expansion Land

Real In-Place Income — Not Projections

Below-Market Rates — Documented Revenue Upside

Clean Infrastructure — Deferred Maintenance Addressed

The Property

118 Sites · ±47.87 Acres · 4 Parcels

The Financials

$353K Rev · $164K NOI · Normalized Base Case

Asking Price

$3,000,000 — Offered Exclusively Through Emanay

Location

Northwestern Pennsylvania — 3 Major Markets

Year 1 Revenue — Normalized

Year 1 NOI — Normalized

Due Diligence Period

Execute NDA · Receive Full CIM

Site Visit · Management Meeting

Submit Offer · Execute PSA

60-Day Diligence · Close Oct 1

INTERESTED INPROJECT CANOE?

PROJECT
CANOE

INTERESTED IN
PROJECT CANOE?