INNOVATE Real Estate
Modern commercial building with a white brick facade and large storefront windows - 3941 Erie Street, Willoughby
Contemporary commercial building featuring white brick exterior and a dark vertical architectural accent - 3941 Erie Street, Willoughby
Retail at 3941 Erie Street, Willoughby, photo 3 of 12
Retail at 3941 Erie Street, Willoughby, photo 4 of 12
Spacious commercial interior featuring a long bar with seating, multiple dining areas, large windows, chandeliers, and exposed ceiling beams - 3941 Erie Street, Willoughby
Interior commercial space with wood-finish flooring, exposed ceiling ductwork, and a decorative truck feature - 3941 Erie Street, Willoughby
Spacious commercial interior featuring a full-height glass storefront, exposed ceiling ductwork, and overhead industrial lighting - 3941 Erie Street, Willoughby
Open-concept commercial interior featuring exposed white rafter ceiling, dark wood-finish flooring, and a long built-in upholstered booth - 3941 Erie Street, Willoughby
Spacious interior featuring wood-finish flooring and a prominent stage area - 3941 Erie Street, Willoughby
Expansive bar area featuring a wood-panel accent wall, dark wood-finish flooring, and industrial pendant lighting - 3941 Erie Street, Willoughby
Spacious rooftop patio featuring light-colored paver flooring, string lighting, and a dark metal railing - 3941 Erie Street, Willoughby
Open-concept commercial interior featuring dark wood-finish tables and black chairs, exposed ductwork, accent walls with barrel-top decor, and built-in booth seating with brown upholstery - 3941 Erie Street, Willoughby
12 photos

$2,800,000

3941 Erie Street
Willoughby, OH 44094
Listed by Rick Osborne · Keller Williams Greater Cleveland Northeast
Bedrooms
N/A
Bathrooms
N/A
Living area
N/A
Year built
2016

About this home

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 details

MLS
NOWDD
MLS #
5107172
Property type
Retail
Subdivision
N/A
Status
Active
Days on market
501
On market date
March 17, 2025
Stories
2
Total bathrooms
N/A
Garage spaces
N/A
Parking spaces
48
Lot size
1.56 acres

Location

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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Grant Elementary School
1.41 mi away · Grades 0-5
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
560
Student:teacher ratio
17.0:1
District
Willoughby-Eastlake City
Middle
Willoughby Middle School
1.69 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
4.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
565
Student:teacher ratio
13.8:1
District
Willoughby-Eastlake City
High
South High School
1.51 mi away · Grades 9-12
Nearest school -- attendance-zone data not available here
2.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
1,091
Student:teacher ratio
18.8:1
District
Willoughby-Eastlake City

Walkability

Blended score for Willoughby's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

86
Highly walkable
out of 100
EPA National Walkability Index
17.3 / 20 -- Most walkable
Google Places amenity density
85 / 100
Restaurants & cafes20
Grocery stores3
Parks10
Schools5
Transit stops20
Pharmacies0

Market position

How this listing compares to current activity in Willoughby, from live MLS data.

On the market 501 days -- 411 more days than Willoughby's current average of 90 days.
For reference, the median list price across 77 active listings in Willoughby right now is $299,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$17,012/mo
$560,000 down
$2,240,000 loan
Principal & interest$14,529
Property tax (est.)$2,333
Home insurance (est.)$150

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Data source: Listing information provided by NOWDD via Trestle/CoreLogic. Last updated July 31, 2026.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.