| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 72nd | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 55 Broad Meadows Blvd, Columbus, OH, 43214, US |
| Region / Metro | Columbus |
| Year of Construction | 1989 |
| Units | 28 |
| Transaction Date | 1989-09-27 |
| Transaction Price | $65,300 |
| Buyer | EXECUTIVE INVESTMENTS |
| Seller | BROADMEADOWS LIMITED PARTNERSHIP |
55 Broad Meadows Blvd Columbus Multifamily Investment
Investor appeal centers on durable renter demand in a high-amenity inner-suburb location, according to WDSuite’s CRE market data. Neighborhood metrics indicate a sizable renter-occupied base that supports leasing depth and pricing discipline through cycles.
Situated in Columbus’s inner-suburb fabric, the neighborhood scores an A rating and ranks 68th among 580 metro neighborhoods, signaling competitive fundamentals at the submarket level. Dining density is a standout (93rd percentile nationally), with strong access to groceries (88th percentile) and parks (83rd percentile), all of which tend to support livability and renter retention. Pharmacies also score well (82nd percentile), reinforcing daily convenience.
Multifamily demand is reinforced by a high share of renter-occupied housing units in the neighborhood, landing in the 97th percentile nationwide. While the neighborhood’s overall occupancy rate sits below the metro median, the renter concentration suggests depth of tenant demand for well-positioned units and supports occupancy stability for assets that are maintained and priced competitively.
Within a 3-mile radius, population has grown modestly over the past five years while household counts increased at a faster pace, pointing to smaller average household sizes and a broader leasing pool. Forecasts indicate further expansion in households over the next five years, which should enlarge the tenant base and aid absorption for professionally operated communities.
Ownership remains relatively high-cost in context (value-to-income ratio ranks in a higher national percentile), and median contract rents remain in a moderate range. This mix typically sustains reliance on multifamily housing and can support lease retention, with affordability management focused on maintaining rent-to-income balance to limit turnover risk.
Safety indicators for the neighborhood trend weaker than national norms, with overall crime measures around the lower national percentiles and performance that trails stronger Columbus-area neighborhoods. Recent-year estimates also point to an uptick in both property and violent incident rates. These signals warrant pragmatic risk management—enhanced lighting, access control, and coordination with local resources—rather than alarmism.
For investors, the key is underwriting realistic operating assumptions and aligning onsite practices to resident expectations. Comparable assets in similar settings can sustain leasing when security measures, community standards, and communications are proactive and consistent.
Proximity to major employers supports a broad renter base seeking commute convenience, including Cardinal Health and nearby corporate offices. These anchors can help stabilize leasing and retention for workforce and professional tenants.
- Fuse by Cardinal Health — healthcare innovation (4.9 miles)
- Cardinal Health — healthcare corporate offices (5.8 miles)
- Cardinal Health — healthcare corporate offices (5.9 miles) — HQ
- Wesco Distribution — industrial distribution (6.6 miles)
- L Brands — retail & brand management (6.7 miles) — HQ
Built in 1989, the 28-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while still benefiting from targeted modernization to elevate finishes and systems. The neighborhood’s renter-occupied share is exceptionally high by national comparison, and amenity access (restaurants, groceries, parks, pharmacies) is a clear differentiator for retention. According to CRE market data from WDSuite, neighborhood occupancy trails the metro median, which puts a premium on thoughtful pricing and property operations—but the depth of the renter base helps support steady leasing for well-managed assets.
Within a 3-mile radius, modest population growth alongside a faster increase in households, and a forecasted expansion in household counts, point to a larger tenant base and continued demand for professionally managed rentals. Ownership costs relative to incomes are elevated in context, which tends to reinforce reliance on multifamily housing and can support rent discipline when balanced with rent-to-income considerations.
- 1989 vintage: competitive versus older neighborhood stock with selective value-add potential
- High neighborhood renter concentration supports leasing depth and occupancy stability
- Strong amenity access (dining, groceries, parks, pharmacies) aids retention
- 3-mile outlook shows growing household counts, expanding the tenant base
- Risks: safety metrics below national norms and neighborhood occupancy below metro median require disciplined operations and underwriting