| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Best |
| Demographics | 82nd | Best |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 80 Shull Ave, Columbus, OH, 43230, US |
| Region / Metro | Columbus |
| Year of Construction | 1972 |
| Units | 39 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
80 Shull Ave Columbus Multifamily Investment Opportunity
In a Columbus inner-suburb pocket with high neighborhood occupancy and durable renter demand, this 39-unit, small-format asset offers steady in-place appeal and potential value-add, according to WDSuite’s CRE market data.
Situated in an Inner Suburb of Columbus rated A and ranked 61 out of 580 neighborhoods (competitive among Columbus neighborhoods), the area’s renter-occupied share indicates a meaningful tenant base for multifamily. Neighborhood occupancy is strong at the area level, supporting leasing stability and renewal potential based on CRE market data from WDSuite.
Amenities skew toward dining and cafes, with restaurant and cafe density well above typical Columbus submarkets, while grocery, parks, and pharmacies are thinner locally. For residents, this mix supports convenience for dining and coffee access but may require short drives for daily-needs retail—considerations for positioning and tenant expectations.
Schools in the neighborhood score above national norms (average rating near 4 out of 5 and in the top quartile nationally), which can support family-oriented renter retention at the neighborhood level. Home values are elevated for the metro context, which generally sustains reliance on rental options and can help support pricing power without overreliance on lease-up concessions.
Demographic statistics within a 3-mile radius show recent population and household growth, with projections indicating further increases and modestly smaller household sizes over the next five years. This points to a larger tenant base and continued absorption capacity for professionally managed rentals, aligning with investor expectations for occupancy stability.
Neighborhood safety indicators are mixed but improving in certain categories. The area’s crime rank sits at 187 out of 580 Columbus neighborhoods—competitive among Columbus neighborhoods—while national comparisons place it roughly mid-pack overall.
Property offense levels benchmark below the national median (lower percentile nationally), but the most recent year shows an estimated double-digit percentage decline in property offenses, indicating a positive near-term trend. Violent offense benchmarks are around the national middle. Investors should underwrite with standard security and lighting improvements as appropriate for a suburban asset, while noting that recent directional trends are constructive at the neighborhood level.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for workforce tenants. The employers below reflect proximate corporate operations that can contribute to leasing depth.
- Wesco Distribution — corporate offices (2.47 miles)
- L Brands — corporate offices (2.66 miles) — HQ
- Dr Pepper Snapple Group — corporate offices (2.83 miles)
- Nationwide — corporate offices (7.68 miles) — HQ
- American Electric Power — corporate offices (7.90 miles) — HQ
80 Shull Ave is a 39-unit multifamily property with small-format residences (average size about 384 sq. ft.) in an A-rated, inner-suburban Columbus neighborhood. Neighborhood occupancy is high and renter concentration is meaningful, supporting steady leasing and renewal prospects. Built in 1972, the vintage suggests potential value-add through unit updates and systems modernization, which can enhance competitiveness against the neighborhood’s generally newer average stock. According to CRE market data from WDSuite, neighborhood-level rents have trended upward over the past five years, while ownership costs remain relatively elevated for the metro, reinforcing sustained rental demand.
Within a 3-mile radius, recent increases in population and households—and projections for further household growth—point to a larger tenant base and support for occupancy stability. Amenity access favors restaurants and cafes, while daily-needs retail is less dense nearby; underwriting should reflect this pattern in marketing and resident services. Safety metrics are broadly mid-range nationally with improving property offense trends, appropriate for standard risk management and CapEx planning.
- Strong neighborhood fundamentals with high occupancy and renter depth support leasing stability.
- 1972 vintage creates clear value-add and systems modernization pathways to enhance NOI.
- Small-format units can position competitively on effective rents while broadening the tenant pool.
- 3-mile radius growth and projected household gains point to a larger renter base over the medium term.
- Risks: thinner daily-needs retail nearby, mid-range national safety benchmarks, and typical CapEx needs for 1970s construction.