CHESTERTOWN, Maryland (Sept. 18, 2017) — Duck Neck Campground, an income-producing recreational vehicle park made up of 89 acres on the beautiful Chester River, will sell in a bankruptcy auction in October, with Auction Markets and Whitney-Wallace Commercial Real Estate Services, LLC marketing the property and conducting the auction.
The campground generated $985,962 in revenue in 2016 and is on track for a strong 2017 as well. Located approximately five miles from Historic Chestertown, Maryland, the campground consists of 89 acres of riverfront, with 353 RV sites. It has several hundred feet of frontage on the Chester River and more than a half mile on Rabbit Creek, a tributary.
“This is really a stunning property and a remarkable income opportunity, being offered under bidding procedures approved by the Bankruptcy Court, District of Maryland,” said Stephen Karbelk, president of Auction Markets. “The property includes a store/camp office, two bath houses, two single-family residences, a maintenance shop, a sandwich shop, and an open-air pavilion. It has an in-ground pool, a playground, a boat ramp/launch, a pier with boat slips and a fishing pier where the Chester River meets Rabbit Creek,” he said.
“The campground has had a loyal and stable clientele for years, consistently remaining 79 to 80 percent occupied even without advertising. Some guests come for the entire season and others for the weekend. Favorite activities include fishing, crabbing and boating,” said Diana Whitney, of Whitney-Wallace Commercial Real Estate Services, LLC.
Bids must exceed a current stalking horse contract of $5,700,000 with the next acceptable bid being $5,900,000. Bids are due by 10 p.m. Eastern on Oct. 5, and an open outcry auction will take place at 11 a.m. Oct. 17 at the offices of Tydings & Rosenberg LLP.
Individuals seeking additional information may contact www.realtymarkets.com, or call Stephen Karbelk, 571-484-1037 or Diana Whitney, 410-726-7886