| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Best |
| Demographics | 49th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6751 Ridge Plaza Dr, North Ridgeville, OH, 44039, US |
| Region / Metro | North Ridgeville |
| Year of Construction | 1974 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6751 Ridge Plaza Dr, North Ridgeville Multifamily
Neighborhood occupancy is above national medians and 3-mile household growth signals a larger tenant base over the next few years, according to WDSuite’s CRE market data.
Located in an Inner Suburb of the Cleveland–Elyria metro, the area around 6751 Ridge Plaza Dr offers auto-oriented convenience with limited walkable amenities. Rents in the neighborhood sit below national medians, which can aid lease retention and steady absorption for workforce-oriented units. Home values are also modest in context, so investors should expect some competition from for-sale housing, but the neighborhood’s rent-to-income profile indicates manageable renter affordability that supports renewal rates.
Neighborhood occupancy is strong relative to national benchmarks (above the national median), supporting stability for existing assets, based on commercial real estate analysis from WDSuite. Renter-occupied share in the neighborhood is moderate, implying a stable but not overly deep tenant base; operators may benefit from targeted marketing to capture demand from nearby employment centers and downsizing households.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections indicating continued increases in both population and households over the next five years. This expansion points to a gradually larger renter pool and supports occupancy stability for well-positioned multifamily assets.
The neighborhood’s average construction year skews newer than this asset, which can elevate competitive pressure from more recent stock; however, older properties with thoughtful renovations often capture demand from value-seeking renters. Investors should weigh modest amenity density locally against regional connectivity and proximity to major employers listed below.
Safety compares favorably in a national context, with the neighborhood positioned around the 85th percentile nationally, according to WDSuite. Recent trends also indicate meaningful year-over-year declines in both violent and property offenses, reinforcing the area’s relative stability without implying block-level uniformity. As always, investors should pair metro- and neighborhood-level indicators with property-specific measures and standard operational controls.
Proximity to diversified employers supports renter demand through commute convenience and income stability, particularly for workforce and professional tenants. Key nearby employers include Texas Instruments, TravelCenters of America, Sherwin-Williams, KeyCorp, and the PNC Center.
- Texas Instruments — semiconductor and electronics (6.2 miles)
- Travelcenters Of America — travel centers & logistics (7.6 miles) — HQ
- Sherwin-Williams — coatings & manufacturing (18.1 miles) — HQ
- KeyCorp — banking & financial services (18.2 miles) — HQ
- PNC Center — office hub (18.4 miles)
Built in 1974 with compact, efficiency-oriented layouts (average unit size ~264 sq. ft.) across 35 units, this property can compete on value while targeting single-occupant and workforce demand. The surrounding neighborhood shows occupancy above national medians and rent levels below national norms, which together support retention and steady leasing. According to CRE market data from WDSuite, demographic growth within a 3-mile radius points to a larger tenant base ahead, while the neighborhood’s rent-to-income profile suggests limited affordability pressure that can underpin collections.
The asset is older than the neighborhood’s average construction year, creating clear value-add angles: interior refreshes, system upgrades, and modest amenity enhancements can improve competitive positioning versus newer stock. Balanced against this are two considerations for underwriting: relatively accessible ownership options in the metro, which can constrain pricing power, and limited walkable amenities near the property, which places more weight on in-unit finishes, management quality, and connectivity to nearby employers.
- Neighborhood occupancy above national medians supports income stability for existing assets.
- 3-mile population and household growth expand the renter pool, aiding lease-up and renewals.
- 1974 vintage offers value-add potential via renovations and system upgrades to compete with newer stock.
- Relative rent affordability supports retention and collections management.
- Risks: limited walkable amenities and accessible homeownership options may moderate rent growth; proactive asset management is key.