| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 25th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2836 Airport Hwy, Toledo, OH, 43609, US |
| Region / Metro | Toledo |
| Year of Construction | 1983 |
| Units | 37 |
| Transaction Date | 2017-12-04 |
| Transaction Price | $2,300,000 |
| Buyer | MIMG CLXXXVII CLAIR COMMONS LLC |
| Seller | CLAIR COMMONS LLC |
2836 Airport Hwy, Toledo Multifamily Opportunity
Neighborhood occupancy is holding in a competitive range and renter demand is deep, according to WDSuite’s CRE market data, pointing to stable operations with measured upside through asset-level execution.
The property sits in an Inner Suburb pocket of Toledo where neighborhood fundamentals are mixed but investable. The area’s overall neighborhood rating is C and ranks 188 out of 244 metro neighborhoods, placing it below the metro median on several indicators. However, neighborhood occupancy is above the national median and competitive among Toledo neighborhoods (rank 101 of 244), which supports baseline leasing stability for workforce-oriented assets.
Renter concentration is high, with an estimated 78.7% of housing units renter-occupied in the neighborhood (rank 5 of 244; top end locally). For multifamily owners, this depth of renter households translates into a broad tenant base and typically steadier turnover management. At the same time, home values in the neighborhood are relatively low versus national norms, which can increase competition from entry-level ownership and may temper pricing power; lease management and resident experience become important to drive retention.
Amenity access within the immediate neighborhood is thin outside of dining, which shows stronger density (restaurant density ranks 43 of 244; top quartile nationally). Other day-to-day amenities (grocery, parks, cafes, childcare) rank toward the bottom of the metro distribution, so residents may rely on options in adjacent areas. These dynamics suggest positioning the asset with convenience-forward services and value-driven finishes to compete effectively.
The building’s 1983 vintage is newer than the neighborhood’s average construction year of 1959. That positioning can offer a competitive edge versus older stock, while still allowing for targeted renovations or system updates to capture value-add returns and improve durability. Within a 3-mile radius, demographics indicate a modest population contraction in recent years but a forecasted return to growth by 2028 alongside a substantial increase in household counts. A smaller average household size and rising household incomes in this 3-mile area point to a larger renter pool and support for occupancy stability, based on commercial real estate analysis from WDSuite.
Safety metrics for the neighborhood are mixed relative to metro and national benchmarks. On overall crime, the neighborhood ranks 148 out of 244 within the Toledo metro, placing it below the metro median, and the national positioning sits near the middle of the pack. Violent and property offense rates benchmark below national percentiles, indicating higher-than-average incident levels compared with neighborhoods nationwide.
Recent trend data is more constructive: estimated one-year changes show double-digit declines in both violent and property offenses, placing the neighborhood in stronger improvement percentiles nationally. Investors should underwrite with conservative assumptions and emphasize on-site security, lighting, and community engagement, while noting that the trajectory has been improving according to WDSuite’s CRE market data.
Nearby anchors include building materials, automotive, and glass packaging headquarters that support a broad regional employment base and commuting patterns favorable to renter demand: Owens Corning, Dana Holding, and Owens-Illinois, plus a major energy headquarters further out in the metro area.
- Owens Corning — building materials (4.1 miles) — HQ
- Dana Holding — automotive supplier (6.0 miles) — HQ
- Owens-Illinois — glass packaging (7.2 miles) — HQ
- Marathon Petroleum — energy refining (40.9 miles) — HQ
2836 Airport Hwy is a 37-unit, 1983-vintage asset positioned in a renter-heavy neighborhood where occupancy performance has been competitive among Toledo submarkets. The high share of renter-occupied units locally supports a broad tenant base, while the property’s newer-than-neighborhood vintage provides scope for targeted upgrades to enhance competitiveness versus older stock. According to CRE market data from WDSuite, the immediate area’s dining density outperforms local peers, while other amenities are thinner, suggesting a value-forward, convenience-focused positioning.
Within a 3-mile radius, recent softness in population has been offset by rising household counts and incomes, with forecasts pointing to further household growth through 2028. That pattern typically expands the renter pool and supports occupancy stability. Balanced against these strengths are considerations around below-median safety benchmarks and relatively low local home values that can create competition from ownership alternatives, warranting careful rent setting and resident retention strategies.
- Competitive neighborhood occupancy and deep renter base support steady leasing
- 1983 vintage offers value-add upside versus older neighborhood stock
- 3-mile area shows rising households and incomes, reinforcing renter demand
- Stronger dining density locally; operational focus can offset thinner other amenities
- Risks: below-median safety and accessible ownership options may limit pricing power