8323 BAYSIDE RD Chesapeake Beach, MD 20732

List price to be opening bid. Online only auction. Online registration & bidding begins Thursday, August 12th and ends Tuesday, August 17, 2021 at 12:00PM. BY ORDER OF THE BANKRUPTCY COURT, DISTRICT OF MARYLAND CASE NO. 19-24473. The "Mama Lucia by the Bay" restaurant was newly built in 2017 with unobstructed broadwater views of the Chesapeake Bay. It enjoys an excellent reputation with a 4.2/5 rating on Google Reviews with almost 450 responses. This sale includes the real estate as well as furniture, fixtures and equipment. In 2018 and 2019, it had approx. $1.4 million of gross sales in each year. In 2020, sales were approx. $1.13 million. In the first four months of 2021, it had approx. $428,000 in gross sales with the resort season just beginning. This is an excellent business opportunity to purchase a turn-key restaurant in a thriving waterfront resort community. The restaurant is surrounded by upscale condominiums and single family homes. Location: Chesapeake Beach is a thriving waterfront community in Calvert County, located in Southern Maryland. Its major attractions incldue a water park, marinas, piers, charter boats, the Chesapeake Beach Railway Station and the Chesapeake Beach Rail Trail. Also nearby is North Beach which includes a Boardwalk/Beach and Pier. Site and Improvements: The property comprises 5 separate tax accounts. They consist of Lots 6, 8, 10, 12, 14, 24, 26 and 28 of Block B of the Baycrest Subdivision in Chesapeake Beach. They are bordered on the north side by 29th St. A single unimproved lot known as Lot 1, Block 4 sits on the north side of 29th St. The total land area is 39,950 sq. ft. or 0.917 acre. The property is served by public water, sewer and natural gas. NOTE: The Seller is currently party to a License Agreement with the Town of Chesapeake Beach, whereby the Town has granted the Seller a non-exclusive license to use certain dedicated parking spaces along 29th Street. The License restricts its transfer absent the Towns consent. The buyer is responsible for obtaining the Towns consent for the transfer of the License. The restaurant was newly constructed in 2017 and comprises a one-story masonry building containing approx. 6,733 sq. ft. of building area. Seating capacity is for up to 341 guests. The restaurant is divided into 2 main dinng rooms, bar area, centrally located kitchen, 2 restrooms, and an outdoor bar with exterior seating area on the rear deck and rooftop. Additional features include a wet sprinkler fire alarm system and plank hardwood flooring. The property is zoned R-MD (Residential Medium Density). The present use is grandfathered in since the property had an existing use as a restaurant pre-2017. It is also within the Bonus Density Overlay District for the town of Chesapeake Beach. The restaurant currently has a Beer, Wine and Liquor License, Class B (On Sale) Hotels and Restaurants. The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Calvert County as in the case of an original application and it shall be the sole responsibility of the purchaser to obtain said approval. In addition, in line with the Alcoholic Beverages Article of the Annotated Code of Maryland, any tangible personal property taxes, retail sales, amusement, admission, and/or withholding taxes must be paid to Calvert County and/or State of Maryland are to be paid by the purchaser. Manner of offering: The Real Estate, Furniture, Fixtures, Equipment, and Personalty will be offered as an entirety. Exclusions: The Restaurant name and phone number are not included with the sale of the assets. Leased equipment is not included with the sale. Additionally, certain equipment financed by BB&T Commercial Equipment Capital Corp is excluded from the auction, but is available for sale, free and clear of all liens with the consent of BB&T