lots of stories on that one and the answer is most likly a combination all all; It was an investment gone bad, or just an investment scam. The building was not built properly, salt water in the cement mix. The water level is so high no septic could be built. Builder ran out of money and ran!!!
Their are more stories but the building has been standing empty like that for the 7 years I have been here. I am sure others will write other stories, someone may know who really owns the land.
The Lazy Lizzard and ground at the Split is for sale, that does not include Red Roof Building, its the land from the road in front to the water, and I beleive its not as big a parcel as sign says, they are going from old land survey prior to loosing some of it to erosion. The Building may also be for sale, that I dont know.