| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 72nd | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Broad Meadows Blvd, Columbus, OH, 43214, US |
| Region / Metro | Columbus |
| Year of Construction | 1973 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
500 Broad Meadows Blvd Columbus 52-Unit Multifamily
Located in an inner-suburban pocket of Columbus that is competitive among metro neighborhoods, the property benefits from steady renter demand and proximity to daily necessities, according to WDSuite s CRE market data. Neighborhood metrics cited below describe the surrounding area, not the property, and point to a tenant base supported by amenities and a high renter concentration.
The surrounding neighborhood ranks 68 of 580 within Columbus s metro set, indicating it is competitive among Columbus neighborhoods. It functions as an inner suburb with solid access to daily needs: grocery, park, and pharmacy availability trends in the 80s for national percentiles, while restaurants sit in the low 90s, supporting resident convenience and leasing appeal for workforce and professional tenants.
Neighborhood housing dynamics show occupancy that trails the national midpoint but has improved over the past five years, suggesting resilience through cycles. Renter concentration is elevated (top-tier nationally), which deepens the local tenant pool and supports demand stability for multifamily assets. Median rent levels track near the middle of national benchmarks, which can aid lease retention and reduce volatility relative to higher-cost submarkets.
Ownership costs in the area are comparatively high relative to incomes by national standards (value-to-income ranks strong), which tends to sustain reliance on rental options and can support pricing power for well-maintained apartments. These dynamics are reinforced by amenity access and commuter connectivity typical of inner suburbs, helping properties compete against older single-family inventory and smaller rentals.
Within a 3-mile radius, WDSuite s data indicates modest population growth in recent years, with households expanding faster than population and average household size edging lower. Looking ahead, households are projected to increase further over the next five years, pointing to a larger tenant base and continued demand for rental units. Income distributions in the 3-mile area skew toward middle-to-upper brackets, which can support renewal rates and steady absorption for well-positioned multifamily communities.
Safety indicators for the neighborhood trend below national medians, with violent and property offense measures weaker than typical U.S. neighborhoods. Relative to the Columbus metro, the area falls below the metro median for safety, signaling that security planning and proactive property management will be important considerations.
Investors should contextualize these figures over time and at the neighborhood scale rather than the block level. Monitoring recent year-over-year increases alongside local enforcement and community initiatives can help calibrate operating practices and tenant experience without overgeneralizing short-term fluctuations.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, notably in healthcare distribution, retail/apparel, insurance, and utilities. The list below highlights key employers by proximity that can contribute to leasing stability.
- Fuse by Cardinal Health — healthcare distribution innovation (4.2 miles)
- Cardinal Health — healthcare distribution offices (5.2 miles)
- Cardinal Health — healthcare distribution (5.2 miles) — HQ
- L Brands — retail/apparel (7.4 miles) — HQ
- Nationwide — insurance (7.5 miles) — HQ
- American Electric Power — electric utility (7.7 miles) — HQ
Built in 1973, the 52-unit asset is newer than much of the area s mid-century housing stock, offering relative competitiveness against older rentals while still presenting room for targeted system upgrades and renovations to enhance positioning. Based on CRE market data from WDSuite, the surrounding neighborhood is competitive within the Columbus metro, combines strong amenity access with a high renter concentration, and shows occupancy that has trended upward factors that can underpin leasing stability when paired with disciplined operations.
Within a 3-mile radius, households have grown faster than population and are projected to expand further, indicating a larger tenant base and support for absorption. At the same time, elevated ownership costs relative to incomes by national benchmarks tend to sustain renter reliance, while mid-range rents can aid retention. Key risks include below-median safety readings and the capital needs typical of a 1970s vintage, both of which warrant planning but are manageable with proactive management and value-add execution.
- 1973 vintage offers value-add potential alongside competitive positioning versus older neighborhood stock
- Competitive inner-suburban location with strong amenity access and high renter concentration supporting demand
- 3-mile household growth and projected expansion point to a larger tenant base and support for occupancy
- Ownership costs comparatively high versus incomes, reinforcing reliance on multifamily and pricing power for maintained units
- Risks: below-median safety readings and 1970s systems imply ongoing capital planning and active management