Development Site and Marina for Sale, Tangier Sound, Crisfield MD

Tangier Sound 228 Unit Development Site and Marina, Crisfield MD

Minimum Bid $600,000

Waterfront Development

228 Units plus 134+/- Slip Marina

  • 7.8+/- Acre fully entitled (fees paid), pad ready and approved for up to 228 units. 
  • On-site is an existing fully occupied condo building completed in 2007, which is not part of this offering. 
  • Already constructed swimming Pool, His/Hers Locker Room, and Gazebo.
  • Over 12m in verified infrastructure in place.
  • Pristine Waterfront location on the Tangier Sound of the Chesapeake Bay.
  • Marina Details:
    • 1,800+/- Feet of bulkhead surrounding waterfront.
    • Phase I (Pier 2) is fee simple 38 slips.
    • Phase II (Pier 1) is condoed with 43 remaining in developers ownership. 
    • Phase III (Pier 3) is not constructed, potential for 56 more slips. 
  • Short boat or ferry ride to popular Tangier and Smith Islands.
  • Property is located in a qualified Federal Opportunity Zone

Property Preview 12-2 pm: Tuesday, July 23rd

Property Address
222 Somers Cove
Crisfield, MD 21817

ONLINE AUCTION
Auction begins: Wednesday August 7, 2019 at 9:00 am
Auction ends: Thursday, August 8, 2019 at 1 pm

TAKE THE NEXT STEP!
Click here to join the bidders club, then click on the link in the confirmation email and return back to this page to pre-register and download the property information package.

In Cooperation with Alliance Realty & Associates 302-678-9000, a licensed Maryland Broker

I, the undersigned, agree to the following terms and conditions, should I be the high bidder.

1.  Auction Day Requirements:  I hereby agree to sign the contract of sale immediately upon the conclusion of bidding.  A 10% deposit of the contract price is required.  All bidders must be pre-registered.  Funds must be wire transferred into Max Spann Real Estate & Auction Co. escrow account within 24-hours of contract acceptance.   NO EXCEPTIONS PLEASE!

2.  I recognize that this is an Auction Sale and is not subject to an attorney review period.  I will review the contract of sale prepared by Seller’s Counsel prior to the auction.

3.  I have read the terms of this sale posted on the premises, printed on the sale brochures and said terms are incorporated herein by reference, as are any public announcements made sale day.

4.  I agree to review the Property Information Packet prior to participating in Auction.

5.  A Buyer’s Premium of 10% of the Bid Price will be added to the bid price and become the Final Contract Price. The successful high bidder will be required to sign a contract of sale immediately upon the conclusion of the auction.  Property is guaranteed to sell at or above minimum bid of $600,000.

6.  If any check given in payment is not honored for any reason, I agree, whether said check be signed by me as maker or endorser, that if such check is placed in the hands of any attorney for collection, to pay all reasonable attorney’s fees, together with all costs of suit in the event is instituted.

7. Bidder represents warrants and acknowledges that the property is being auctioned by Max Spann Real Estate & Auction Co.  (“Spann”) in an "AS IS" and "WHERE IS" condition subject to all faults, and specifically and expressly without any warranties, representations or guarantees, either express or implied, of any kind, nature, or type whatsoever from Spann in its own capacity or as the agent, servant or employee of the seller of the property.  Bidder further acknowledges that Spann has not made any independent investigation of the condition of the property or examined, verified or confirmed the validity of any information, documents, literature, maps or sketches, pro-forms, or any other written documents provided in the Property Information Packet.

                Bidder and Bidder’s heirs, transferees, administrators, personal representatives, trustees, successors and assigns, forever waive, release, discharge and hold Spann harmless, from any claim it has, might have had, or may have against Spann with respect to:

                                a.             The condition of the Premises, either patent or latent, of any nature whatsoever, including environmental contamination;

                                b.             Buyer's ability or inability to obtain or maintain building permits, temporary or final certificates of occupancy or other licenses for the use or operation of the Premises, and/or certificates of compliance for the Premises;

                                c.             The actual or potential income or profits to be derived from the Premises;

                                d.             Any other state of facts which exist with respect to the Premises which at the time of closing were not the subject of actual knowledge on the part of Seller.