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"Maryland Eastern Shore" Popular

US Route 50 Commercial Land
25.94+/- Acres - Zoned SC
Between MD-404 and MD-213
ONLINE ONLY AUCTION
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Listing Details

Bidding Opens
Friday,
12:00 AM
Bidding Closes
Tuesday,
 
11:00 AM
Address
306 Lake Drive and Parcel 68, Queenstown, MD, 21658
County
Queen Anne's County
Neighborhood
Maryland Eastern Shore, US Route 50, Wye Mills, Queenstown
Terms Of Sale
A 10% deposit, payable by cashier's check or wire transfer, will be required of the Purchaser by 4:30 p.m. on the date of auction. A 5% buyer's premium will be added to the final bid price. When you register for an on-line auction, a "ping" will be placed on your credit card and immediately voided, you will not be charged the deposit amount. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract:
ONLINE AUCTION

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 ONLINE REAL ESTATE AUCTION 

- $500,000 Opening Bid -

MARYLAND EASTERN SHORE

US ROUTE 50
COMMERCIAL LAND
25.94± Acres ◆ Zoned SC

Fronting 1,471' On US-50
Between MD-404 and MD-213

Known As
306 Lake Drive & Parcel 68
"Wye Mills - Queenstown"
Queen Anne's County, MD 21658

Online Bidding Opens
FRIDAY, MAY 21, 2021

Online Bidding Closes
TUESDAY, MAY 25, 2021
AT 11:00 A.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

GENERAL INFORMATION:
The auction property consists of two contiguous, commercially-zoned, parcels, located on the south side of US Route 50, east of MD Route 13 and immediately west of Maryland Route 404. The undeveloped property has substantial frontage on Ocean Gateway (US-50), the main highway traversing the Maryland Eastern Shore, leading from the Chesapeake Bay Bridge and US-301 southeast to Ocean City. MD-404 is a major alternate route to Delaware and Maryland beach resorts. SC zoning allows a wide variety of commercial land uses. The rear of the site borders scenic Wye Mills Community Lake.

LOCATION:
The property is located in the Wye Mills - Queenstown area of Queen Anne's County, MD, approximately 12 miles east of the Chesapeake Bay Bridge. MDOT Traffic County Data for 2020 indicates 44,882 vehicles, on average, pass the property each day. Traffic counts are likely much higher during the summer travel season.

Nearby attractions include Chesapeake College, Queenstown Outlets and Wye Oak State Park. Area properties include agricultural, residential and highway commercial uses.

ZONING:
SC, Suburban Commercial District. According to the Queen Anne's County Code, "The Suburban Commercial (SC) Distric it intended to provide for a variety of commercial uses and limited light industrial uses in predominantly rural or suburban areas not served by public sewer." For a list of permitted uses, conditional uses and setback requirements, see: Queen Anne's County Zoning and Subdivision Regulations - www.ecode360.com

SITE:
The property is comprised of two adjacent parcels.

Lot 1 - 306 Lake Drive (Tax Map 67, Parcel 44) - 22.65 acres, situated at the southeast corner of US-50 and Lake Drive, a 50' wide private road. The parcel fronts approximately 1,233 feet along US-50 by a depth of approximately 1,274 feet. The site is fairly level and mostly wooded. The rear fronts approximately 303' along the shore of Wye Mills Community Lake.

Lot 2 (Tax Map 67, Parcel 68) - 3.29 acres, adjoining Lot 1 on the east, fronting approximately 238' along US-50 by a depth of 574'. The property is fairly level and mostly wooded.

Plat

IMPROVEMENTS:
Prior to 1992, the property was used as a nursery. The remains of a concrete shed and several greenhouses can be found along a gravel drive, which traverses Lot 1. The plat denotes a 30,000 square foot septic area in the rear of Lot 2 and there were formerly two wells on the property. The status of the well and septic is unknown.

ENVIRONMENTAL:
The seller acquired the property in 1992 and has a Phase I and II Environmental Report from that time. Please complete the Waiver and Confidentiality Agreement form to receive a copy of the report.

TITLE:
The property is in fee simple and sold free and clear of liens. Queen Anne's County Deed Book SM 1548, Page 496.

TAXES:
Published tax information for 2020

Parcel

Acreage

Full Value
Assessment

Taxes

Lot 1 - 306 Lake Drive
Tax Map 67, Parcel 44

22.65 $ 1,435,800 $ 13,830

Lot 2 - Tax Map 67, Parcel 68

3.29 296,100 2,899

Total

25.94 $ 1,731,900 $ 16,729

SUMMARY TERMS OF SALE:

Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier's check or wire transfer, will be required of the Purchaser by 4:30 p.m. on the date of auction. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence. A 5% buyer's premium will be added to the final bid price.