The building looks like a gigantic temple. It is an illusion. The walls can be walked through, as can the trappings inside, except for one statue of a dragon, in marble, with its mouth wide open and water gushing out into a pool around the statue. If a character crawls in, he will be immediately completely under water. The tunnel goes down 30 feet, then opens into a completely water-filled room.
The room is 100 cubic feet†. Inside is a sea dragon (95% chance to be there every turn): AC1, HD9, hp 43, At bite or breath (poison glob), D3-24 or die, save F9, N.
At the north end is a large hole, 50 feet by 25 feet, that goes straight to the ocean. The treasure is under a coral reef to the west (unnoticeable unless looking very closely): a pile of coral-encrusted coins (10,742 gold pieces, 28,503 electrum pieces) and a chest (10,000 coins) with 1,510 electrum pieces, 5,904 gold pieces, a sword+1 locate objects, and boots of speed.