| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Good |
| Demographics | 63rd | Good |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 525 Abbe Rd N, Sheffield Lake, OH, 44054, US |
| Region / Metro | Sheffield Lake |
| Year of Construction | 2010 |
| Units | 120 |
| Transaction Date | 2009-04-08 |
| Transaction Price | $2,617,000 |
| Buyer | NEW KENSINGTON SQUARE ASSOCIATES LLC |
| Seller | CLARKWOOD APARTMENTS PHASE II |
525 Abbe Rd N Sheffield Lake 120-Unit Multifamily
Neighborhood fundamentals indicate stable renter demand, with occupancy measured for the neighborhood trending above the national median and a renter-occupied share that supports a deeper tenant base, according to WDSuite's CRE market data. The 2010 vintage positions the asset competitively versus older local stock.
Sheffield Lake’s neighborhood carries a B+ rating and is competitive among Cleveland–Elyria neighborhoods (ranked 194 out of 569), suggesting balanced livability and investment appeal for workforce multifamily. Parks access is top quartile nationally, and restaurants per square mile outpace national medians; however, cafes and pharmacies are limited, concentrating daily needs around grocery and general retail.
Built in 2010, the property is newer than the neighborhood’s average construction year (1975). This typically enhances leasing competitiveness against older assets while still warranting prudent planning for mid-life systems and common-area upgrades over the hold.
At the neighborhood level, occupancy trends above the national median and the share of housing units that are renter-occupied is elevated—both supportive of a larger tenant base and leasing stability. A relatively low rent-to-income profile points to manageable affordability pressure, aiding retention and measured pricing power.
Within a 3-mile radius, recent patterns show modest population softness alongside growth in households—consistent with smaller household sizes and a steady renter pipeline. Looking forward, projections indicate population growth and a sizable increase in households, which would expand the renter pool and support occupancy if realized, based on CRE market data from WDSuite.
Compared with the Cleveland–Elyria metro, the neighborhood’s crime profile is competitive (148 out of 569), and it sits above the national median for safety. Year-over-year data shows declines in both property and violent offense rates at the neighborhood scale—a constructive trend for tenant perception and leasing stability. These are area-level indicators and can vary by block.
A cluster of West Cleveland corporate offices broadens the employment base and supports renter demand and commute convenience. Nearby employers include TravelCenters of America, Texas Instruments, KeyCorp, Sherwin-Williams, and PNC Center.
- Travelcenters Of America — corporate offices (9.7 miles) — HQ
- Texas Instruments — corporate offices (10.5 miles)
- Keycorp — corporate offices (19.8 miles) — HQ
- Sherwin-Williams — corporate offices (19.8 miles) — HQ
- PNC Center — corporate offices (20.1 miles)
525 Abbe Rd N offers scale at 120 units with a 2010 vintage that is newer than nearby stock, supporting competitive positioning on finishes and systems. Neighborhood-level occupancy trends are above the national median, and renter concentration is elevated—both supportive of demand depth and leasing stability. Within a 3-mile radius, households have increased even as population was flat to slightly lower, and forward projections point to growth and a larger renter pool.
Home values in the broader area are more accessible relative to many U.S. markets, which can introduce competition from ownership; however, a modest rent-to-income profile supports retention and measured pricing power. According to commercial real estate analysis from WDSuite, strong parks access and restaurant density enhance livability, while limited café/pharmacy availability is a manageable amenity gap.
- Newer 2010 vintage versus older neighborhood stock supports leasing competitiveness and reduces near-term CapEx risk.
- Neighborhood occupancy above the national median with elevated renter-occupied share supports demand depth and retention.
- 3-mile radius outlook shows growing households and an expanding renter pool, reinforcing long-run stability.
- Livability tailwinds from strong parks and dining access bolster resident appeal.
- Risks: amenity gaps (few cafés/pharmacies), relatively accessible ownership options, and previously soft population trends.