| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 34th | Poor |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2316 Hardy Parkway St, Grove City, OH, 43123, US |
| Region / Metro | Grove City |
| Year of Construction | 1990 |
| Units | 82 |
| Transaction Date | 2018-08-31 |
| Transaction Price | $5,575,000 |
| Buyer | Kaufman Properties |
| Seller | Aberdeen Rei Ltd |
2316 Hardy Parkway St Grove City Multifamily Opportunity
Neighborhood occupancy trends are competitive within the Columbus metro and point to steady renter demand, according to WDSuite’s CRE market data. For investors, this supports a focus on durable cash flow over outsized lease-up assumptions.
Located in a suburban pocket of Grove City within the Columbus, OH metro, the area shows competitive occupancy relative to peers (ranked 255 out of 580 metro neighborhoods), which indicates a reasonably stable backdrop for collections and renewals. Nationally, occupancy performance falls in a higher tier than many neighborhoods, reinforcing near-term leasing stability without requiring aggressive concessions.
Rents measure slightly above national midpoints while remaining accessible to local incomes, helping manage affordability pressure and potential retention risk. The 3-mile radius demographics point to a modest expansion in the resident base and an increase in households, which generally supports a larger tenant pool and steadier absorption for multifamily.
Amenity access is mixed: restaurants and groceries track around metro midpoints, but immediate offerings such as parks, cafes, and pharmacies are lighter in this neighborhood. For investors, this typically shifts the resident value proposition toward housing quality, management, and commute convenience over walkable lifestyle features.
The property’s 1990 vintage is newer than the neighborhood’s average construction year (1979; rank 251 of 580), which can provide a competitive edge versus older stock. Investors should still plan for targeted system updates or common-area refreshes to keep the asset positioned against both newer deliveries and renovated comparables.
Tenure patterns indicate a meaningful share of housing units within a 3-mile radius are renter-occupied. This level of renter concentration suggests depth in the tenant base for workforce-oriented product and supports ongoing demand for professionally managed multifamily.
Safety conditions in the neighborhood track below metro medians (crime rank 325 out of 580), and the area sits in a lower national safety percentile compared with many U.S. neighborhoods. Recent indicators suggest property offenses have seen a year-over-year uptick, while violent crime trends are closer to the middle of recent metro movements.
For underwriting, investors often account for these dynamics through security measures, resident screening, and partnership with local stakeholders, while benchmarking performance against comparable Columbus submarkets.
Proximity to major corporate employers supports a commuter tenant base and can aid retention for workforce housing. Nearby anchors include American Electric Power, Nationwide, Big Lots, Avnet Services, and The Xerox Company.
- American Electric Power — electric utility (4.3 miles) — HQ
- Nationwide — insurance (4.6 miles) — HQ
- Big Lots — retail (4.9 miles) — HQ
- Avnet Services - LifeCycle Solutions — technology services (7.5 miles)
- The Xerox Company — business services (8.0 miles)
This 82-unit asset in Grove City benefits from neighborhood occupancy that is competitive among Columbus neighborhoods and sits above many U.S. areas, supporting stable leasing and collections. According to CRE market data from WDSuite, local rents align with incomes, which can help manage affordability pressure and bolster renewal probabilities. Within a 3-mile radius, modest population growth and a rising household count point to a gradually expanding renter pool.
Built in 1990, the property is newer than much of the surrounding stock, offering a positioning advantage versus older assets while leaving room for targeted value-add through system modernization and common-area upgrades. Amenity-light surroundings place more emphasis on asset quality and access to regional job centers, where multiple corporate anchors provide consistent commuter demand.
- Competitive neighborhood occupancy supports steady leased exposure
- Rents aligned with local incomes aid retention and pricing discipline
- 1990 vintage offers relative edge versus older stock with value-add upside
- Proximity to major employers underpins workforce renter demand
- Risks: thinner walkable amenities and below-median safety warrant active management