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    236 S Bayview Strathmere, NJ 08248

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    Claim this Listing
    For Sale
    $4,975,000

    Restaurant - Strathmere, NJ

    Property size:
    3,856 SF
    Added:
    Mar 10, 2025
    Days on Market:
    405
    Last Refresh:
    Apr 18 at 4:06 am

    Property Features for 236 S Bayview

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    RR
    Parking features
    Off Street, Paved or Surfaced
    Security features
    Fire Alarm, Security System
    Interior features
    Handicap Features, Living Space Available, Restroom, Security System, Smoke/Fire Alarm, Storage
    Exterior features
    Dock/Pier/Slip, Storage Building, Sign, Fence
    Dock
    1
    Fencing
    Fenced
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Size
    3,856 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    18865

    Utilities

    Heating system
    Electric (Heating), Forced Air, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Zoned

    Building Details

    Year built
    1929
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Hardwood, Linoleum, Vinyl
    Building materials
    Frame, Other, See Remarks
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Burton Wilkins

    Listing agent Burton Wilkins License #8743449

    Listing office GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY 200 34th Street, NJ

    Listing date Mar 10, 2025

    MLS# 250693 Listing URL

    Copyright © 2026 Cape May County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Bayfront Restaurant Opportunity

    This established bayfront restaurant, known as "Twisties Tavern on the Bay", is located in Strathmere, between Ocean City and Sea Isle City. The restaurant has a history of 95 years and underwent a major renovation in 2010, enhancing its charm while preserving its history, including the mahogany bar dating back to 1929. The restaurant and bar are decorated with nautical décor, carved coconut heads, and vintage memorabilia. The restaurant offers seating for 98 guests indoors, 25 on the outdoor deck, and an additional 50 on the lower terrace. There are five boat slips available. The restaurant and bar are equipped with acoustic soundproofing panels. The turn key operation includes a fully equipped large commercial kitchen, a dedicated wait station, and a totally equipped bar. The property also features a 2nd floor residence accessible via a private entrance, with a spacious open living area adjoining a large private deck with panoramic bay and sunset views, an upscale kitchen with granite counters and stainless steel appliances, a comfortable bedroom, upscale bathroom and laundry. The entire building has a fire suppression and central fire/alarm system. The property size is 3856 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Building Supply Bed & Breakfast Restaurant Restaurant Gym & Fitness Center Hotel & Motel Real Estate Agency Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Strathmere
    County
    Cape May
    State
    New Jersey
    Longitude
    -74.6605
    Latitude
    39.1946

    FAQs

    What type of property is this?
    Restaurant - Iconic waterfront restaurant with residence, known for bay views.
    Where is this restaurant located?
    The property is located at 236 S Bayview Strathmere, NJ.
    What is the asking price?
    The asking price for this property is $4,975,000.
    What are key features of this property?
    This property features: Established, Profitable Bayfront Restaurant: A turnkey operation with a loyal customer base and proven success.; Breathtaking Bay Views & Outdoor Seating: Offers stunning sunset views and multiple outdoor seating areas accommodating up to 75 guests.; Fully Equipped Commercial Kitchen & Bar: Includes a large, fully equipped commercial kitchen and bar.
    (609) 513-2500
    We can help!
    Listing Contact
    Burton Wilkins
    Real Estate License ID: 8743449
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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