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3941 Erie St
Willoughby, OH 44094
10-Year Restaurant Lease Investment · Retail Property For Sale
Investment Highlights
- 8700 SF modern two-story building
- Zoned as C-M for flexibility
- Prime location in DTW, Northeast Cleveland area
- Constructed in 2016
- Unique Handcrafted Cocktails
- Ample space for various business needs
Executive Summary
Investment Opportunity--New Single Tenant Asset--10-year Lease. PRIME LOCATION for an exceptional investment opportunity in Historic Downtown Willoughby! This stunning 8,700 SF modern two-story building was constructed in 2016 for fine dining restaurant. This venue is located adjacent to the Chagrin River near a high traffic intersection with high visibility on Erie Street off of Route 20. Experience Northeast Ohio's favorite destination for restaurants, bars, shopping, and year-round entertainment and activities!
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,700 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2016
Price
$3,892,756 CAD
Price Per SF
$447.44 CAD
Cap Rate
6%
NOI
$233,565 CAD
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.13
Lot Size
1.56 AC
Zoning
Commercial - 430 C- - RESTAURANT, CAFETERIA, AND/OR BAR
Parking
46 Spaces (5.29 Spaces per 1,000 SF Leased)
Frontage
117’ on Erie Street
Amenities
- Accent Lighting
- Roof Terrace
- Storage Space
- Air Conditioning
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Matterport 3D Tour
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