| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Best |
| Demographics | 48th | Fair |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 216 S Mercer Rd, Bowling Green, OH, 43402, US |
| Region / Metro | Bowling Green |
| Year of Construction | 1989 |
| Units | 36 |
| Transaction Date | 2015-09-25 |
| Transaction Price | $1,500,000 |
| Buyer | FOX RUN APARTMENTS BOWLING GREEN LLC |
| Seller | ADLER VICKY VALENTINE |
216 S Mercer Rd, Bowling Green OH — Multifamily Opportunity
Neighborhood fundamentals point to durable renter demand and high occupancy, according to WDSuite’s CRE market data, with this location benefiting from a deep tenant base tied to nearby institutional and service employment. Investors screening comparables may find income stability supported by a renter-leaning area and steady leasing momentum.
Livability drivers in the immediate area are supportive of workforce housing demand. Neighborhood ratings are strong (A) and the area ranks 23rd among 244 Toledo neighborhoods, positioning it competitive within the metro. Dining and daily-needs access trend above national norms — restaurants and cafes are in the top quartile nationally — while parks and groceries also score above average; pharmacy access is comparatively limited.
From an investment lens, neighborhood occupancy is high at about 97%, a top-quartile national outcome that typically supports leasing stability and retention. Median rents in the area remain moderate relative to income, suggesting manageable affordability pressure; this can aid renewal rates but may temper near-term pricing power compared with higher-cost submarkets.
Tenure patterns indicate a high share of renter-occupied units in the neighborhood, pointing to a sizable tenant pool for multifamily. Within a 3-mile radius, households have grown even as average household size has declined, implying more, smaller households entering the market — a trend that generally supports absorption and occupancy for studio and one-bedroom formats. This aligns with the property’s compact average unit size profile.
Relative to ownership, elevated value-to-income levels in the neighborhood versus national benchmarks reinforce reliance on rental options, which can underpin steady demand through cycles. School ratings in this area trend below national averages (though above the metro median), which is more relevant for family-oriented product; for smaller units, proximity to services and employment often weighs more in leasing decisions. These dynamics, based on commercial real estate analysis from WDSuite, frame a market geared to renters with stable occupancy potential.
Safety indicators compare favorably at the neighborhood level. Overall crime ranks 38th out of 244 Toledo neighborhoods — competitive among Toledo neighborhoods — and the area performs above the national average for safety. Violent offense metrics are particularly strong (top decile nationally) and have improved year over year.
Property offense levels trend better than national norms (top quartile nationally), though recent year-over-year movement shows some volatility. For investors, this mix suggests a comparatively stable safety profile in a metro context, with attention warranted to property-crime management best practices typical for renter-dense areas.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Owens-Illinois, Dana, Dana Holding, Owens Corning, and Marathon Petroleum.
- Owens-Illinois — glass manufacturing (10.8 miles) — HQ
- Dana — auto components corporate offices (13.9 miles)
- Dana Holding — auto components (13.9 miles) — HQ
- Owens Corning — building materials (19.6 miles) — HQ
- Marathon Petroleum — energy (23.2 miles) — HQ
Built in 1989, the property is newer than much of the surrounding stock, which can be a competitive advantage against older assets while still warranting targeted modernization planning for systems and interiors. At the neighborhood level, occupancy trends are strong and renter concentration is high, supporting depth of the tenant base and leasing stability, according to CRE market data from WDSuite.
Within a 3-mile radius, households are increasing even as average household size declines, pointing to more, smaller households that typically favor efficient unit types — consistent with the property’s compact average unit size. Ownership costs in the neighborhood are elevated relative to incomes, reinforcing reliance on multifamily housing; however, relatively moderate rent levels suggest measured pricing power and the need for disciplined lease management.
- High neighborhood occupancy and strong renter concentration support leasing stability
- 1989 vintage offers competitive positioning versus older stock with targeted value-add potential
- 3-mile household growth and shrinking household size favor smaller-format units
- Elevated ownership costs bolster multifamily demand relative to buying
- Risk: pricing power may be moderate; monitor property-crime trends and amenity gaps