NNN-100% Leased-Restaurant-Brewery-Rooftop 3941 Erie St

Investment Highlights

Sleek, freestanding microbrewery and restaurant exceptionally sited in the heart of Historic Downtown Willoughby. Situated over 1.56 acres with ample surface parking in the city?s bustling retail corridor. Surrounded by excellent demographics where the average household income is about $78,000 within a mile of the asset. Highly visible near a heavily trafficked intersection where major thoroughfares SR-20 and Erie Street meet. The two-story property features one of the best rooftop patios in the city with incredible river views. Residents expend over $388 million on food and alcohol in the community annually within a brief five-mile radius.

Executive Summary

Prime investment opportunity located in the heart of Historic Downtown Willoughby. 3941 Erie Street is a freestanding microbrewery and restaurant prominently positioned in a heavily trafficked, signalized intersection. The highly visible two-story building has an open-concept space layout with indoor seating accommodating 160 guests. The modernized property features one of the best rooftop patios in the city, seating 75, where locals and visitors can enjoy the outdoor dining experience. Parking is a breeze as the on-site surface lot allows for quick and seamless ingress and egress. Downtown Willoughby is a premier destination in Northeast Ohio known for its one-of-a-kind day and nightlife experience with restaurants, bars, community activities, unique boutiques, and vintage shopping. 3941 Erie Street is ideally situated in the center of all the city has to offer, along with its year-round community art and highly anticipated entertainment schedule. This stand-alone asset is a premium opportunity for investors looking to expand their portfolio with a turnkey acquisition.

• Sale Type    Investment
• Property Type    Retail
• Property Subtype    Restaurant Restaurant General Retail Freestanding General Retail Storefront Restaurant
• Building Size    8,800
• Building Class    B
• LoopNet Rating    4 Star
• Year Built    2016
• Price    3,595,000
• Price Per SF    409
• Cap Rate    7.09
• NOI    255,000
• Percent Leased    100
• Tenancy    Multiple
• Building Height    2 Stories
• Building FAR    0.13
• Land Acres    1.56 AC

• Accent Lighting
• Roof Terrace
• Storage Space
• Air Conditioning