On October 4, 1995, at 2130 eastern daylight time, a Beech BE55, N6648W, piloted by the owner/operator, ran off the end of runway 12 after landing at Lee Airport, in Annapolis, Maryland. The pilot and the one passenger, the sole occupants, reported no injuries. The airplane sustained substantial damage when it impacted a fence located off the departure end of the runway. Visual meteorological conditions prevailed for the flight, which operated on an IFR flight plan. The personal flight operated under 14 CFR Part 91, and originated from Elkins, West Virginia, at approximately 2030. The pilot reported that the airplane touched down "...just beyond..." the displaced threshold on runway 12, with full flaps extended. He stated that he "...determined [that there was] ample runway remaining to stop [the] aircraft. Applied brakes, no braking action, applied brakes to lock tires, still no braking action noted. Released brakes and reapplied, still no braking action." The pilot stated that after all attempts to stop the airplane failed, there was insufficient runway remaining to perform a go around. He reported that as the airplane departed the end of the runway, it veered left, and impacted the airport boundary fence. The pilot reported that the 2,100 foot long runway was wet, with areas of standing water. The pilot stated that the accident could have been prevented "...if go around [had been] initiated at very first sign of [no] braking action..." or by "...retracting flaps to facilitate killing lift and subsequent weight shift to wheels."