North eastern Ohio cap rates?

[Phil Morgan]

I am wondering if anyone can give me some insight into cap rates on larger buildings in different areas around north eastern Ohio.  I am looking for larger buildings, 12 plus units, and am trying to grasp the different cap rates in A, B and C neighborhoods.  I know there are slightly lower cap rates in more desirable areas but how big is this gap?  When looking at Lakewood vs Wadsworth or Medina.  I would love to hear from someone who has experience with larger properties in these kind of areas and what cap rates I should be using when evaluating deals.  Thanks 

[James Wise]

Originally posted by @Phil Morgan:

I am wondering if anyone can give me some insight into cap rates on larger buildings in different areas around north eastern Ohio.  I am looking for larger buildings, 12 plus units, and am trying to grasp the different cap rates in A, B and C neighborhoods.  I know there are slightly lower cap rates in more desirable areas but how big is this gap?  When looking at Lakewood vs Wadsworth or Medina.  I would love to hear from someone who has experience with larger properties in these kind of areas and what cap rates I should be using when evaluating deals.  Thanks 

 The #1 issue is lack of inventory. If your looking for 12+ resi buildings in quality neighborhoods they are few and far between. Expect to see 7 or less as their is so much demand anytime one hits the market.