| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 23rd | Poor |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1400 Barnett Rd, Columbus, OH, 43227, US |
| Region / Metro | Columbus |
| Year of Construction | 1982 |
| Units | 55 |
| Transaction Date | 2009-11-17 |
| Transaction Price | $2,524,800 |
| Buyer | NEW BARNETT PLAZA LTD |
| Seller | BARNETT PLAZA LTD |
1400 Barnett Rd, Columbus OH Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and steady occupancy, according to WDSuite’s commercial real estate analysis. Positioning focuses on workforce housing fundamentals rather than premium amenities.
Located in an inner-suburb pocket of Columbus (neighborhood rating: B-), the area shows stable renter demand with an occupancy rate measured for the neighborhood that trends around recent metro norms, according to WDSuite’s CRE market data. Cafes and pharmacies are relatively dense for the metro (both near the top third nationally), while groceries and restaurants are also competitive versus national averages. Parks and formal childcare options are sparse locally, which can modestly limit family-oriented appeal.
The property’s 1982 vintage is newer than the neighborhood’s average construction year of 1965. For investors, this positioning can be comparatively competitive versus older stock, though systems may benefit from targeted modernization or value‑add upgrades to support retention and leasing velocity.
Within a 3‑mile radius, demographics indicate a growing tenant base: population and households have expanded over the past five years, with projections pointing to additional population growth and a notable increase in households by 2028. This trajectory suggests a larger renter pool and supports occupancy stability. Median contract rents in the 3‑mile radius remain accessible relative to many large metros, with projections indicating continued upward pressure; prudent underwriting should still consider affordability management and lease retention.
Renter-occupied housing is prevalent both at the neighborhood level and within the surrounding 3‑mile radius, reinforcing depth of demand for multifamily units. Home values are lower than many national peers, which can introduce some competition from ownership alternatives; however, the current rent-to-income dynamics at the neighborhood level point to manageable affordability pressure and an opportunity to balance pricing power with retention. These patterns are consistent with findings from WDSuite’s multifamily property research.
Safety indicators for the neighborhood are below national averages based on WDSuite data, with both violent and property offense measures sitting in lower national percentiles (safer areas have higher percentiles). Notably, estimated property offenses have declined year over year, signaling some improving momentum. Investors should account for these dynamics in underwriting, security planning, and marketing toward value‑oriented renter segments.
Proximity to a diverse employment base supports workforce housing demand and commute convenience, including consumer goods, distribution, and major corporate headquarters noted below.
- Dr Pepper Snapple Group — consumer goods (3.3 miles)
- Wesco Distribution — distribution (5.1 miles)
- Nationwide — insurance & corporate services (5.5 miles) — HQ
- American Electric Power — utilities & corporate services (5.5 miles) — HQ
- Avnet Services - LifeCycle Solutions — technology services (6.0 miles)
This 55‑unit, 1982 vintage asset in Columbus’ inner‑suburb corridor aligns with workforce housing fundamentals: high neighborhood renter-occupied share, competitive day‑to‑day amenities, and an occupancy level for the neighborhood that has been steady relative to metro trends. The 3‑mile radius shows population growth and an expanding household base, supporting a larger tenant pool and reinforcing leasing durability. While homeownership is comparatively accessible locally, renter concentration indicates durable depth of demand for multifamily.
The 1982 construction provides a relative edge versus older neighborhood stock while leaving room for targeted renovations to enhance competitiveness and support rent positioning. According to CRE market data from WDSuite, local occupancy and rent trends are consistent with stable, value‑oriented renter demand; underwriting should still reflect safety considerations and the area’s modest school ratings, with asset management focused on resident experience and retention.
- Renter depth: high neighborhood renter-occupied share supports consistent leasing
- Demand tailwinds: 3‑mile population and household growth expand the tenant base
- Competitive positioning: 1982 vintage offers modernization and value‑add potential versus older stock
- Location utility: everyday amenities (groceries, cafes, pharmacies) support resident convenience and retention
- Risks: below‑average safety and modest school ratings warrant conservative underwriting and active management