| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Best |
| Demographics | 75th | Best |
| Amenities | 32nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 950 Tollis Pkwy, Broadview Heights, OH, 44147, US |
| Region / Metro | Broadview Heights |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
950 Tollis Pkwy, Broadview Heights OH Multifamily Investment
Neighborhood occupancy remains strong and has trended higher in recent years, supporting stable rent rolls according to WDSuite’s CRE market data.
Broadview Heights is a suburban location with a balanced mix of convenience and quiet. Neighborhood amenities are serviceable rather than dense: grocery and dining availability tracks near the national middle, while parks score in the upper tier nationally. Daily needs are generally car‑oriented, with limited café and pharmacy density, which matters mainly for walkability rather than leasing fundamentals.
For investors, the most relevant signal is occupancy: the neighborhood maintains high occupancy and has improved over the past five years, indicating durable renter demand and steady lease-up dynamics. Renter-occupied share is modest—slightly above the national median—pointing to a stable but not saturated tenant base and supporting retention in well-run assets.
Within a 3‑mile radius, households and families have grown over the last five years, and projections show households continuing to increase even as average household size trends lower. This pattern expands the local renter pool and supports occupancy stability and absorption for smaller formats. Household incomes in the 3‑mile area skew higher than the national middle, and reported rent-to-income ratios at the neighborhood level sit in a healthier range, which can aid collections and reduce turnover risk during renewals. Based on multifamily property research from WDSuite, median contract rents have risen historically and are projected to continue advancing, reinforcing revenue potential with disciplined lease management.
Relative to the Cleveland–Elyria metro, the neighborhood rates above the metro median on overall livability and demographics, and lands in the top quartile nationally for several demand drivers (parks access, incomes, and household size positioning). These factors, paired with suburban fundamentals, translate to consistent renter demand for well-maintained, professionally managed multifamily.
Safety indicators are comparatively favorable. The neighborhood ranks competitive among Cleveland–Elyria neighborhoods and sits in the top quartile nationally for safety, based on WDSuite’s estimates. Recent year-over-year declines in both property and violent offense estimates point to an improving trend rather than a one‑off result.
While crime can vary by block and over time, the metro-relative standing and national positioning suggest risk management that aligns with typical suburban Cleveland submarkets. Owners should still underwrite standard security measures and monitor local reporting as part of ongoing asset operations.
Proximity to diversified employers supports a commuter-friendly renter base, with industrial gases, rail operations, and major corporate headquarters within a reasonable drive—helping sustain leasing and renewal activity for workforce and professional tenants.
- Airgas Merchant Gases — industrial gases (5.4 miles)
- Norfolk Southern Motor Yard — rail operations (9.2 miles)
- Sherwin-Williams — coatings HQ offices (11.6 miles) — HQ
- PNC Center — financial services offices (11.8 miles)
- KeyCorp — banking HQ offices (11.9 miles) — HQ
This 24‑unit asset in Broadview Heights benefits from a suburban location where neighborhood occupancy is high and trending upward, indicating durable leasing and retention potential. Within a 3‑mile radius, households have increased and are projected to keep rising as average household size declines—an investor-relevant shift that expands the renter base for smaller formats and supports steady absorption. Elevated local incomes and a healthy rent-to-income profile at the neighborhood level underpin collections and reduce renewal friction, while moderate home values mean some competition from ownership that should be managed with product positioning.
According to commercial real estate analysis from WDSuite, the area places above the metro median on overall livability and demographics and sits near the national middle for amenities, with parks as a relative strength. Together, these elements point to stable demand with measured rent growth potential for well-operated multifamily, provided underwriting accounts for car-oriented living and amenity-light surroundings.
- Neighborhood occupancy is strong and improving, supporting stable cash flow and lower vacancy downtime.
- 3‑mile household growth and smaller household sizes expand the local renter pool and aid absorption.
- Higher incomes and healthy rent-to-income dynamics support collections and renewal retention.
- Parks access is a relative strength; broader amenities are adequate but car‑oriented.
- Risk: relatively accessible ownership options can compete with rentals; maintain competitive finishes and service quality to sustain pricing power.