| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 48th | Fair |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2172 Near Dr, Grove City, OH, 43123, US |
| Region / Metro | Grove City |
| Year of Construction | 1992 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2172 Near Dr, Grove City OH Multifamily Investment
Neighborhood occupancy is strong and renter demand appears durable for workforce households, according to WDSuite’s CRE market data. This location offers steady leasing fundamentals in an inner-suburban setting with diversified tenant drivers.
The property sits in Grove City’s inner-suburban fabric within the Columbus, OH metro, where the neighborhood is rated A and ranks 76 out of 580 metro neighborhoods — competitive among Columbus neighborhoods and above the metro median. Amenity access scores well for daily needs, with grocery, pharmacy, restaurants, and childcare density supporting resident convenience relative to many areas in the region.
Rents in the neighborhood track near national medians while occupancy trends are elevated versus national norms, supporting income stability. The renter-occupied share is substantial (about half of units), signaling depth in the tenant base for midsize multifamily assets and helping sustain leasing velocity through cycles.
Within a 3-mile radius, recent years show notable population and household growth, and forecasts point to continued household increases even as average household sizes edge lower. For investors, this suggests a larger renter pool over time and support for occupancy stability, even if population growth moderates.
The 1992 construction is newer than the local average vintage (1980), offering competitive positioning versus older comparables. Investors should still plan for modernization of select systems and common areas to support retention and pricing power. Ownership costs in the area are moderate by national standards, which can introduce some competition from for-sale alternatives, but accessible rental options remain relevant for mobility and value-seeking renters.
Local amenities trend above national percentiles for groceries, restaurants, and childcare, though park access is limited. Average school ratings sit around the national midpoint, which may require careful resident targeting toward renters prioritizing commute convenience and everyday services over recreational space.
Safety metrics for the neighborhood trail both national and metro benchmarks overall. The area’s crime rank is in the lower half of the Columbus metro (ranked 330 among 580 neighborhoods), and national comparisons place it in a weaker percentile range for safety. That said, recent data shows mixed movement: property-related incidents have eased year over year, while violent offense estimates ticked up. Investors should underwrite to prudent security measures and consider operating practices that support resident comfort and retention.
Proximity to Columbus core employers supports commute convenience and a diversified renter base. Nearby anchors include Big Lots, American Electric Power, Nationwide, Avnet Services, and The Xerox Company — all within a commutable radius that can reinforce leasing stability for workforce households.
- Big Lots — retail headquarters (6.3 miles) — HQ
- American Electric Power — utilities headquarters (6.8 miles) — HQ
- Nationwide — insurance headquarters (7.1 miles) — HQ
- Avnet Services - LifeCycle Solutions — IT services (7.7 miles)
- The Xerox Company — business services (7.7 miles)
This 72-unit, 1992-vintage asset benefits from a neighborhood with high occupancy and solid amenity access relative to the Columbus metro. The vintage is newer than the local average, offering competitive positioning against older stock, while selective renovations can enhance retention and support rent optimization. According to CRE market data from WDSuite, the neighborhood’s renter concentration and elevated occupancy support income stability for well-managed assets.
Within a 3-mile radius, households have grown meaningfully and are projected to continue expanding even as average household size trends lower, indicating ongoing renter pool expansion. Ownership costs are moderate, implying some competition from for-sale options; however, diverse nearby employment and established retail services help sustain multifamily demand.
- Elevated neighborhood occupancy supports income stability versus national norms
- 1992 vintage offers competitive positioning with targeted value-add potential
- 3-mile household growth and smaller household sizes point to a larger renter base
- Proximity to major Columbus employers underpins steady workforce demand
- Risks: safety metrics lag metro and national averages; limited park access may affect some renter segments