| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 58th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7784 Salida Rd, Mentor, OH, 44060, US |
| Region / Metro | Mentor |
| Year of Construction | 1981 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7784 Salida Rd Mentor Multifamily Opportunity — 50 Units
Neighborhood fundamentals point to steady renter demand and everyday convenience, with occupancy around the metro midpoint and strong amenity access, according to WDSuite’s CRE market data.
Mentor’s inner-suburban setting combines daily conveniences with workable commute access across the Cleveland–Elyria metro. Restaurant density is a clear strength (top end nationally), while grocery, parks, and pharmacies are also well represented versus national norms. Cafés and childcare density are thinner locally, so the amenity mix leans toward essentials over boutique options.
Neighborhood insights are measured for the area surrounding the property, not the asset itself. Renter-occupied share is elevated relative to metro and national levels, signaling a deep tenant base and supporting leasing continuity. Overall occupancy trends sit near national and metro midpoints, which typically favors stable, needs-based demand rather than transient lease-up dynamics.
Within a 3-mile radius, recent years show essentially flat population with a modest increase in households, indicating smaller household sizes and a gradual expansion of the renter pool. Forward-looking projections anticipate continued household growth even with a smaller total population, which can support occupancy stability and widen the tenant base for smaller-format units like studios and one-bedrooms.
Home values in the area are relatively moderate in a national context. This suggests some competition from ownership pathways, but rent-to-income levels indicate manageable affordability pressure for renters, helping retention and supporting measured pricing power for well-managed multifamily assets.
Safety metrics for the surrounding neighborhood sit around the national midpoint for property offenses and somewhat below the national midpoint for violent offenses. Recent trend data indicates estimated property offenses declined year over year, while violent offense trends were more mixed. These readings position the area as neither an outlier on the high- nor low-risk ends within the Cleveland–Elyria region.
Investors should underwrite standard security measures and monitor local trendlines; comparative standing versus the nation and region suggests typical inner-suburban risk profiles rather than block-level hotspots.
Proximity to major corporate employers underpins commuter convenience and supports a durable renter base, led by Progressive’s campus presence, Parker-Hannifin, and additional regional offices within a 10–25 mile drive.
- Progressive Greens Building — corporate offices (11.3 miles)
- Progressive Discovery Building — corporate offices (12.4 miles)
- Progressive — insurance (13.3 miles) — HQ
- Parker-Hannifin — industrial & engineering (15.4 miles) — HQ
- Time Warner Cable Payment Center — telecommunications offices (21.2 miles)
The asset sits in an inner-suburban neighborhood with strong daily conveniences and an elevated share of renter-occupied housing, supporting a broad tenant base. Neighborhood occupancy trends are near metro and national midpoints, while restaurant, grocery, park, and pharmacy access compare favorably at the national level. Within a 3-mile radius, household counts are rising even as population growth moderates, implying smaller household sizes and a gradual expansion of the renter pool that can support steady leasing and retention.
Moderate ownership costs in the area can create some competition with for-sale options, but rent-to-income levels suggest manageable affordability pressure for renters. According to CRE market data from WDSuite, these dynamics point to demand stability for well-maintained units, with potential to capture measured rent growth through operational execution and thoughtful upgrades where returns are supported by local incomes.
- Elevated neighborhood renter-occupied share supports a deep tenant base and leasing durability.
- Amenity-rich location (restaurants, groceries, parks, pharmacies) compares favorably versus national norms.
- 3-mile household growth and smaller household sizes expand the likely renter pool and support occupancy stability.
- Manageable rent-to-income conditions support retention and measured pricing power with sound operations.
- Risk: Ownership pathways remain accessible; underwriting should account for competitive pressure and typical inner-suburban safety profiles.