Enter the building and you'll find Phyllis inside. You have to pass some Charisma speech checks in order to get her to talk. Depending on your conversation options, you can eventually ask her to join the Minutemen. After successfully convincing her, you can now use the location as your new settlement.
There's a cooking station inside the main building in the lower floor. The workshop workbench is also found here. In the second floor, you'll find Phyllis' terminal which you can use to read through the logs and open the nearby safe. There's also a weapons workbench on the second floor.
This location has good access to Water and a fenced area with functional gates where you can place your crops. There are still some active mines around the area so be careful when wandering around. In the boathouse, there's a red steamer trunk on a lifted rowboat. Behind the shelf near that rowboat is an Advance safe.
Finally, the store by the dock has a Nuka-Cola Quantum on the floor, a handmade tripwire, Food, components, and a copy of the Wasteland Survival Guide. The rooftop also provides a good vantage point to set up your spotlights and towers so build stairs there that will allow your settlers to go up.