| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Fair |
| Demographics | 66th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1262 Pearl Rd, Brunswick, OH, 44212, US |
| Region / Metro | Brunswick |
| Year of Construction | 1997 |
| Units | 88 |
| Transaction Date | 2013-06-04 |
| Transaction Price | $3,500,000 |
| Buyer | Richard & Susan Nernberg |
| Seller | Towne Center Limited Partnership |
1286 Pearl Rd Brunswick Multifamily Investment
Neighborhood occupancy is elevated and has trended up versus recent years, supporting lease stability for well-positioned assets, according to WDSuite’s CRE market data. Metrics cited refer to the surrounding neighborhood rather than this specific property.
Brunswick’s A- rated suburban neighborhood (ranked 90 of 569 within the Cleveland–Elyria metro) signals balanced fundamentals for multifamily investors. Neighborhood occupancy is in the top tier nationally (95th percentile), a backdrop that has supported steady leasing and reduced downtime for comparable assets.
Daily needs are serviceable with parks, pharmacies, and cafes scoring above national midpoints (parks ~78th percentile; cafes ~81st). Grocery options are thinner within the immediate neighborhood, so residents may rely on short drives for full-line supermarkets—an operational consideration for marketing and retention.
Schools rate favorably for the metro (ranked 38 of 569; top quartile nationally), which can help stabilize family-oriented renter demand. Median contract rents in the neighborhood sit near the national midpoint with solid five‑year gains, indicating room for professional operations to capture market rent while monitoring affordability.
Within a 3‑mile radius, demographics show population growth and a notable increase in households, with projections calling for further household expansion through 2028. Rising median and mean incomes in this radius expand the qualified renter pool and support occupancy stability, while a majority owner-occupied base provides a steady but not saturated renter market.
Ownership costs are moderate for the metro, and the neighborhood’s rent‑to‑income levels are relatively manageable, which can aid lease retention. However, accessible ownership options in parts of the metro mean operators should differentiate on convenience, finishes, and service to sustain pricing power.
Safety indicators for the neighborhood sit modestly above the national midpoint overall (54th percentile), placing it around the metro median (272 of 569). Recent trend data show year‑over‑year declines in both violent and property offenses, which supports a constructive near‑term outlook, though conditions can vary block to block.
For investors, the directional improvement is a positive operating signal, but underwriting should still account for standard security measures and localized management practices typical of suburban Cleveland assets.
The employment base within commuting distance blends engineering, industrial suppliers, and Fortune 500 headquarters exposure, supporting renter demand tied to professional and operations roles. Nearby anchors include Texas Instruments, Airgas, TravelCenters of America, Sherwin‑Williams, and KeyCorp.
- Texas Instruments — semiconductors (12.5 miles)
- Airgas Merchant Gases — industrial gases (14.9 miles)
- Travelcenters Of America — travel centers & logistics (15.1 miles) — HQ
- Sherwin-Williams — coatings & corporate offices (19.3 miles) — HQ
- Keycorp — banking headquarters (19.5 miles) — HQ
Built in 1997, the 88‑unit asset is newer than the neighborhood’s average vintage, offering competitive positioning versus older local stock while still leaving room for targeted upgrades to modernize systems and finishes. The surrounding neighborhood has sustained very high occupancy and mid‑range rents, a combination that supports consistent leasing while allowing disciplined rent management, based on CRE market data from WDSuite.
Within a 3‑mile radius, households and incomes have grown and are projected to rise further, expanding the qualified renter base and supporting retention. The area’s rent‑to‑income dynamics suggest manageable affordability pressure, though a relatively high share of owner‑occupied housing in parts of the metro means operators should emphasize convenience, amenity value, and service to compete effectively. Limited immediate grocery options are operational considerations but are typical of suburban locations where residents make short drives for full‑line retail.
- Newer 1997 vintage vs. neighborhood average, with potential value‑add via modernization
- Neighborhood occupancy ranks near the top nationally, supporting leasing stability
- 3‑mile household and income growth expands the qualified renter pool
- Mid‑range local rents with room for professional operations to capture market levels
- Risks: relatively limited immediate grocery access and competition from homeownership options