| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2818 Airport Hwy, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1978 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | $2,085,750 |
| Buyer | MIMG CLXXXVII CLAIR COMMONS LLC |
| Seller | CLAIR COMMONS LLC |
2818 Airport Hwy, Toledo Multifamily Investment Opportunity
Neighborhood metrics point to above-median occupancy and a deep renter base, according to WDSuite’s CRE market data, supporting durable demand at this address in Toledo, Ohio. These indicators reflect neighborhood conditions rather than property performance and suggest a stable tenant pipeline relative to local peers.
Located in Toledo’s inner-suburb fabric, the immediate neighborhood shows above-median occupancy among 244 metro neighborhoods, signaling demand resilience at the submarket level. Renter concentration is high (share of housing units that are renter-occupied), which typically supports a deeper tenant base and steadier leasing, while still requiring disciplined screening and retention strategies. These are neighborhood-level indicators, not property results.
The property’s 1978 vintage is newer than the neighborhood’s average construction year, pointing to relative competitiveness versus older stock nearby. Investors should still plan for targeted system updates and selective renovations to enhance rentability and capture value-add upside common to late-1970s assets.
Local livability skews utilitarian: restaurants are comparatively present versus national norms, while groceries, parks, and daily services within the neighborhood rank weaker, which may shift some errands to nearby corridors. For investors, this mix suggests workforce housing dynamics where convenience hinges on arterial access rather than dense, walkable retail.
Within a 3-mile radius, recent years show a modest population dip but an increase in households and a trend toward smaller household sizes, expanding the renter pool even without strong population growth. Forward-looking projections indicate further household growth and rising incomes, which can support occupancy stability and measured rent progress in line with broader commercial real estate analysis, while keeping an eye on lease management where rent-to-income ratios tighten.
Home values in the neighborhood are comparatively low in the metro context, which can introduce some competition from entry-level ownership. That said, elevated renter concentration and above-median neighborhood occupancy suggest multifamily remains a preferred housing option locally, supporting tenant retention and steady absorption.
Neighborhood safety sits around the middle of the pack locally, with a rank in the lower half among 244 Toledo metro neighborhoods, indicating comparatively higher reported crime than many peers. Nationally, the neighborhood’s overall standing is near average, but violent incidents track weaker versus national comparisons.
Recent momentum is constructive: both violent and property offense rates have declined year over year, with improvement trends placing the area in stronger national percentiles for rate reductions. Investors should underwrite prudent security measures and active property management, while recognizing the improving trajectory and positioning relative to other Toledo neighborhoods.
Proximity to major employers underpins workforce housing demand and commute convenience for residents, notably Owens Corning, Dana, Dana Holding, Dana Holding Corporation, and Owens-Illinois.
- Owens Corning — building materials (4.1 miles) — HQ
- Dana — automotive components (6.1 miles)
- Dana Holding — automotive components (6.1 miles) — HQ
- Dana Holding Corporation — automotive components (6.5 miles)
- Owens-Illinois — packaging/glass (7.2 miles) — HQ
This 43-unit, late-1970s asset sits in a Toledo neighborhood with above-median occupancy and a high share of renter-occupied housing units, indicating depth in the tenant base and support for leasing stability. The 1978 construction year suggests competitive positioning versus older nearby stock, with clear value-add potential through modernization of interiors and building systems.
Within a 3-mile radius, households have been increasing despite softer population trends, and projections point to further household growth and income gains—conditions that can support renter pool expansion and steady absorption. According to CRE market data from WDSuite, local fundamentals align with workforce housing dynamics: relatively attainable rents, accessible commute nodes, and proximity to anchor employers that help sustain occupancy through cycles.
- Above-median neighborhood occupancy supports leasing stability versus many Toledo submarkets
- High renter-occupied share indicates a deep tenant base for sustained demand
- 1978 vintage offers value-add opportunity via targeted system updates and interior renovations
- Nearby headquarters and corporate offices bolster workforce housing appeal and retention
- Risks: lighter neighborhood amenities and safety metrics below national norms warrant conservative underwriting and active management