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Property profile & analytics
FOR SALE
Turn key restaurants
3941 Erie St Willoughby, OH 44094
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US66-0653594
For Sale
1 / 15
$2,800,000
3941 Erie St, Willoughby, OH 44094
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2016
Construction
WOOD
Total area
7,358 SF
Lot
1.48 ac (64,425 SF)
Zoning code
C-M
APN
27-B-037-0-00-006-0
UPID
US66-0653594
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Ellen Weinhouse Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Harbor Inn Ptshp LLC · 11 yrs held
Harbor Inn Ptshp LLC
since 2015
7 recorded transactions
Zoning & alternative use
C-M · Willoughby, OH
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Willoughby submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Willoughby submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$33,510
Tax year 2023
Assessed value
$418,450
Assessed 2023
Previous assessed
$418,450
+0.0% YoY
Effective rate
8.01%
On assessed value
Assessed land
$96,370
Assessed improvement
$322,080
Land market value
$275,340
Improvement market value
$920,220
Total market value
$1,195,560
Applied tax rate
27.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
2016
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
27
Total area
7,358 SF
Lot
1.48 ac (64,425 SF)
Zoning code
C-M
APN
27-B-037-0-00-006-0
UPID
US66-0653594
Jurisdiction
LAKE
Zoning & alternative use
C-M · Willoughby, OH
Zoning C-M · permitted uses
C-M · Willoughby, OH
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Willoughby. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2016
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
27
Lot
1.48 ac
Current owner
From public records · entity-resolved
Harbor Inn Ptshp LLC
Entity
Mailing address
9549 JOHNNYCAKE RDG RD, MENTOR, OH 44060-7117
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 19, 2019
—
Harbor Inn Partnership LLC
—
Deed
related
$100,000 · The Huntington National Bank
Dec 14, 2016
—
Harbor Inn Ptshp LLC
—
Deed
related
$2,976,500 · Huntington Nat'l Bk
Jun 22, 2015
$250,000
Harbor Inn Ptshp LLC
3941 Erie Street LLC
Warranty Deed
—
Mar 3, 2014
$100,000
3941 Erie Street LLC
Fifth Third Bk
Grant Deed
—
Aug 9, 2011
$260,000
Fifth Third Bk
Sheriff Of Lake County
Trustees Deed
related
—
Nov 22, 2002
$485,000
Riverfront Enterprises INC
B T V Enterprises Ltd
Grant Deed
$420,000 · Fifth Third Bank N Kentucky
Jan 14, 2000
$4,850
Btv Enterprises Ltd
Jain,mohan R & Sevanti M
Grant Deed
$349,000 · Firstmerit Bank NA
—
—
Harbor Inn Ptshp LLC
—
Deed Of Trust
related
$2,976,500 · Huntington Nat'l Bk
—
—
Mohan R Jain
—
Deed Of Trust
related
$351,000 · Firstmerit Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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