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236 S Bayview
Strathmere, NJ 08248
Burton Wilkins with GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY, original listing - (609) 399-2500
$4,975,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
3856 Square Feet
Property Description
A rare opportunity to own an established bayfront restaurant "Twisties Tavern on the Bay", located between Ocean City and Sea Isle City in Strathmere. With a loyal following, Twisties is known for its friendly service, delicious food, drinks, and breathtaking bay views with stunning sunsets. This Strathmere tradition for 95 years has a rich history, it’s even rumored that Al Capone once visited, inspiring the owners to begin their collection of mounted fish that now adorn the walls. This iconic tavern 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, adding to its unique character. Inside, guests enjoy a nostalgic atmosphere, where the jukebox still plays both old tunes and new favorites. The restaurant offers seating for 98 guests indoors and 25 for outdoor dining on the deck, where guests can take in the waterfront views and ocean breeze. The lower terrace can accommodate seating for an additional 50 guests. Visitors arrive by car, bicycle, or boat, with five boat slips available for those who prefer to dock and dine. Twisties has earned the title of the #1 local restaurant and bar on Google, TripAdvisor, and Yelp, drawing visitors from all over who come to enjoy the fantastic food, handcrafted drinks, and unforgettable sunsets over the bay. The menu offers a variety of delicious dishes, from fresh seafood and mouthwatering burgers to creative small plates and specialty drinks, ensuring there’s something for everyone to enjoy. This turn key operation includes a fully equipped large commercial kitchen, a dedicated wait station, and a totally equipped bar providing ample space for the staff to work efficiently. The restaurant and bar are equipped with acoustic soundproofing panels to make for a more pleasant dining experience. The property also features a lovely 2nd floor residence accessible via a private entrance. This beautifully appointed retreat boasts 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. Don’t miss this incredible opportunity to own a beloved waterfront destination with a storied past and a bright future!
Property Information
Lot Size
0 sqft square ft
Property Type
Commercial Sale-Other
Year Built
1929
MLS Number
--
Location
Address
236 S Bayview
City
Strathmere
State
NJ
Zip Code
08248
County
CAPE MAY
Listing
Provider
GOLDCOAST SOTHEBY'S INTERNATIONAL REALTY, original listing
Name
Phone
(609) 513-2500
Office Name
Office Phone
(609) 399-2500
Agent Name
Burton Wilkins
Agency Phone
(609) 399-2500

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.