Bay Ridge Estates Offering Ridge Estates...9MJ 4\SJW J]UWJXXQ^ WJXJW[JX YMJ WNLMY FY NYX XTQJ...

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HOGANCOMPANIES.COM 1 BAY RIDGE ESTATES RESIDENTIAL DEVELOPMENT OPPORTUNITY BAY RIDGE ROAD GREAT MILLS, MARYLAND 20634 FOR SALE

Transcript of Bay Ridge Estates Offering Ridge Estates...9MJ 4\SJW J]UWJXXQ^ WJXJW[JX YMJ WNLMY FY NYX XTQJ...

Page 1: Bay Ridge Estates Offering Ridge Estates...9MJ 4\SJW J]UWJXXQ^ WJXJW[JX YMJ WNLMY FY NYX XTQJ INXHWJYNTS YT WJOJHY FS^ TW FQQ J]UWJXXNTSX TK NSYJWJXY TW TKKJWX YT UZWHMFXJ YMJ 5WTUJWY^

HOGANCOMPANIES.COM • 1

BAY RIDGE ESTATES RESIDENTIAL DEVELOPMENT OPPORTUNITY

BAY RIDGE ROAD GREAT MILLS, MARYLAND 20634 FOR SALE

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HOGANCOMPANIES.COM • 2

CONTENTS

The Offering 3

Property Location 4

Property Details 5

Concept Plan 6

Transaction Details 7

HOGAN2077 Somerville RoadSuite 206Annapolis, Maryland 21401(410) 266 - 5100

Jake Ermer (410) 507-4061 [email protected]

Kevin Setzer(301) [email protected]

Bay

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HOGANCOMPANIES.COM • 3

THE OFFERING

Bay Ridge Estates Bay Ridge Rd Lexington Park, MD 20653

Bay Ridge Estates presents a great opportunity to fi nalize entitlements and develop a townhome community in St. Mary’s County, MD. The property is concept plan approved for 60 townhome units and is conveniently located near the intersection of Great Mills Road and Maryland Route 5. The 6.62 acre property offers an easy commute to the major regional employer, Patuxent RIver Naval Air Station and all the retail amenities of Lexington Park. The entirety of the property is zoned R2 which allows for residential uses as well as some religious and institutional uses by right.

The approved concept plan for Bay RIdge Estates lays out 60 townhome lots with classic 20’ x 40’ home dimensions. Engineers have indicated that fi nal approvals can be obtained in approximately 12 months and consist entirely of staff level review. Public utilities are located adjacent to the property, and sewer service is all gravity. St Mary’s County has enjoyed steady and continued growth, buoyed by high-tech defense industry sector that has fl ourished around Patuxent RIver NAS.

For additional information, contact:

Chapel Estates

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Jake Ermer, EVPHOGAN(410) [email protected]

Kevin Setzer, SVPHOGAN(301) [email protected]

Bay Ridge Estates Bay Ridge Estates presents a great opportunity to fi nish entitlements and develop infi ll land for a townhome community in St. Mary’s County, MD. The 6.64 acre property is conveniently located for an easy commute to the major employment center, Patuxent Naval Air Station, and all the retail amenities of Lexington Park. Concept plans are approved for a 60 unit community with classic 20’x40’ home dimensions.

Engineers have indicated that the timeline for fi nal plan approvals and record plat is approximately 12 months through staff level administrative plan review. Be a part of the continued growth of St. Mary’s County by delivering in-demand housing at an attractive price point and location at Bay Ridge Estates!

For more information contact:

Jake [email protected]

Kevin Setzer [email protected]

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HOGANCOMPANIES.COM • 4

PROPERTY LOCATION

Bay Ridge Estates

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HOGANCOMPANIES.COM • 5

PROPERTY DETAILS

Acreage: +/-6.62 ac

Zoning: RH Residential, High-Density District

Existing Conditions: Wooded acreage fronting Bay RIdge Road and Maryland Route 5, access curb cut is in place from Bay Ridge Road.

Plan Approvals: Concept Plan approved for 60 unit townhome community

Tax Map St. Mary’s County Book # 51, Parcel 0605, Outparcel A

Utilities: Public Water and Sewer available to extend to site

Schools: George Washington Carver Elementary, Spring Ridge Middle, Great Mills High

Project Engineer:

Mehaffey & Associates

(301) 475-0406

41650 Courthouse Drive Loker Building, Suite 100

Leonardtown, MD 20650

Bay Ridge Estates

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HOGANCOMPANIES.COM • 6

CONCEPT PLAN

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HOGANCOMPANIES.COM • 7

TRANSACTION DETAILS

Due Diligence Items in Document Vault Concept plans Approval letters Forest conservation plans Soils report Deed records

Offering TermsPrice: One Million Three Hundred Fifty Thousand Dollars ($1,350,000)Deposit: Posted at effective date, non-refundable at expiration of feasibility periodFeasibility Period: 60 days suggestedTerms: Bulk sale, cash at closing following completion of study and approvals period

DISCLAIMERThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all information which prospective Buyers may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verifi ed for accuracy, completeness, or fi tness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other mea-surements are approximations. Additional information and an opportunity to inspect the Property may be made available to qualifi ed prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and engineering advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither HOGAN nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, defi nitive purchase and sale agreement delivered by the Owner.

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Existing Conditions & Storm Drain Exhibit