3941 Erie StWilloughby, OH 44094

  • Other commercial real estate
  • 1,432 SF
For Sale
$3,595,000 View listing

Property Details for 3941 Erie St

Lot size
0.08 AC
Property size (Sq ft)
1,432 SF
Zone code
C-M
Property type
Other commercial real estate
APN
27-B-037-0-00-005-0
APU
27B0370000050

Description

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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $294,872
    Hospitality
    $270,101
    Educational
    $224,721
    Medical
    $232,450
    Retail
    $349,566
3941 Erie St, Willoughby, Ohio

Location Insight

City
Willoughby
County
Lake
State
Ohio
Latitude
41.6436
Longitude
-81.4063
CBSA code
17460
CBSA name
CLEVELAND-ELYRIA-MENTOR, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$658
$7,500
-
$7,500
-
$21,420
-
$21,420

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