| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 30th | Fair |
| Demographics | 36th | Fair |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Commerce Ave NW, Warren, OH, 44485, US |
| Region / Metro | Warren |
| Year of Construction | 1973 |
| Units | 118 |
| Transaction Date | 2016-12-27 |
| Transaction Price | $2,050,000 |
| Buyer | 600 COMMERCE LLC |
| Seller | BC ASSESTS LLC |
600 Commerce Ave NW Warren, OH Workforce Multifamily
Neighborhood occupancy sits in the high-80s and has improved over the last five years, and a renter-occupied share near one-half of units supports a consistent tenant base, according to WDSuite's CRE market data.
Located in Warren's inner-suburban fabric, the property's 118 units and practical average unit size support workforce demand dynamics. The surrounding neighborhood's occupancy level is below the metro median but has trended upward over five years, suggesting improving leasing stability as owners focus on retention and renewals. Renter-occupied housing is close to half of units locally, indicating a meaningful base of multifamily demand.
Livability is mixed: the area ranks 137th of 222 metro neighborhoods for overall amenities, reflecting limited access to everyday services like groceries, pharmacies, parks, and childcare within immediate proximity. Restaurant density, however, is stronger than the national median (65th percentile), offering some lifestyle convenience for residents. For investors, this points to a resident profile prioritizing value and access to employment nodes over full-service walkability.
Vintage matters for capital planning. The asset's 1973 construction is newer than the neighborhood's average 1957 vintage, positioning it competitively versus older local stock while still warranting targeted modernization of systems and interiors to support rents and reduce near-term capex surprises.
Demographic statistics aggregated within a 3-mile radius indicate a recent population dip alongside a modest decrease in household counts, but forward-looking projections show growth in both population and households through 2028. This outlook suggests a larger tenant base over the medium term, which can support occupancy stability and measured rent growth. Median contract rents in the area remain comparatively low, reinforcing the submarket's value positioning; based on commercial real estate analysis from WDSuite, this affordability profile can aid lease retention even when pricing power is limited.
Home values are comparatively low for the region, which can create some competition from ownership options. Investors should underwrite with an emphasis on value-for-rent, resident service, and unit quality to maintain leasing velocity in an ownership-accessible market while leveraging the sizable renter pool.
Safety indicators are mixed relative to peers. The neighborhood's crime rank is 100th out of 222 metro neighborhoods, placing it in the less safe half of the metro, and national percentiles indicate below-median safety. Violent offense levels sit around the 9th percentile nationally, and property offenses are around the 20th percentile.
Trend direction offers a constructive note for underwriting: year over year, estimated property offenses declined and violent offenses also eased, indicating incremental improvement. Investors should incorporate appropriate security measures and operating practices while recognizing the downward trend when assessing tenant retention and operating risk.
The area draws from a broad employment base spanning rail transportation, distribution, manufacturing, utilities, and insurance, supporting workforce housing demand and commute convenience for residents. Key nearby employers include Norfolk Southern, Home Depot's distribution, Goodyear, FirstEnergy, and Progressive.
- Norfolk Southern — rail transportation (5.7 miles)
- Home Depot Distribution Center — retail distribution (33.1 miles)
- Goodyear Tire & Rubber — tires & manufacturing (34.6 miles) — HQ
- FirstEnergy — utilities (36.1 miles) — HQ
- Progressive — insurance (37.0 miles) — HQ
600 Commerce Ave NW offers 118 units averaging roughly 800 square feet, aligned with workforce housing demand in Warren. Neighborhood occupancy has improved over the last five years and sits in the high-80s, while a renter-occupied share near one-half of units underpins depth of the tenant base. The 1973 vintage is newer than the local average, suggesting relative competitiveness versus older stock, with value-add upside through targeted modernization. According to CRE market data from WDSuite, the area's rent levels remain accessible relative to incomes, which can aid retention even if rent growth is measured.
Within a 3-mile radius, projections point to population and household expansion by 2028, supporting a larger renter pool over time. Low home values in the area may create competition from ownership; underwriting should emphasize unit quality, service, and pricing strategy to sustain leasing velocity. Proximity to diversified employers across rail, distribution, manufacturing, utilities, and insurance supports day-to-day demand.
- Workforce-oriented unit mix and size support broad renter appeal
- Neighborhood occupancy improving over five years, supporting leasing stability
- 1973 vintage newer than local average, with clear value-add modernization paths
- Diverse regional employers bolster everyday renter demand
- Risks: below-median safety and limited amenities; accessible ownership options may compete with rentals