Technical
Financial
Distress signals
Property profile

3941 Erie St Willoughby, OH 44094

FOR SALE
Commercial real estate
Property ID
US66-0654858
1,432 SF 0.08 ac lot
Entity Owned 11-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional mixed-use investment opportunity presents a thriving microbrewery and restaurant at 3941 Erie Street in Willoughby, OH. The property boasts a substantial 9,625 square feet on a 1.56-acre lot, offering ample space for both indoor and outdoor operations. The open-concept design seamlessly blends the two-story interior with a remarkable rooftop patio, capable of seating 75 guests and providing stunning views. Inside, the restaurant comfortably accommodates 160 diners. On-site parking is available for patrons and staff, a significant advantage in a bustling downtown location. The property benefits from its prime position at a high-traffic intersection, ensuring excellent visibility and accessibility. Situated in the heart of Historic Downtown Willoughby, this establishment is part of a vibrant community known for its diverse culinary scene, lively nightlife, unique shopping experiences, and a year-round calendar of arts and entertainment events. This presents a rare chance to acquire a well-established business in a highly desirable and thriving Northeast Ohio location. The asking price is $3,595,000. This turnkey operation offers immediate income potential and significant long-term growth prospects.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Total area 1,432 SF
Lot 0.08 ac (3,572 SF)
Zoning code C-M
APN 27-B-037-0-00-005-0
UPID US66-0654858

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Bar & Pub Nightclub

Location

3941 Erie St Willoughby, OH 44094
Willoughby metro Census 201400 CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
$135k

Owner & transaction history

since 2015
7 recorded transactions
2019
Price N/A
2016
Price N/A
2015
$250,000
2014
$100,000
2011
$260,000
2002
$485,000
2000
$4,850

Zoning & alternative use

C-M · Willoughby, OH

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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