Ferguson-

Hard to answer definitively without knowing your content/target. Numbers in your URL don't mean anything to SEs unless it's a keyword (like a ZIP, area code or model) - what does 0304 tell me or Google? You mention the possibility of multiple pages for a location, so if I assume the nature of the content for these pages is different I'd say you'd want to optimize the URLs to bolster your on page SEO. Let's say you have a site for dentists and the like, then your URLs might be:
Domain.com/locations/Columbus/OH/orthodontists
Domain.com/locations/Columbus/OH/dentists
Domain.com/locations/Columbus/OH/oral-surgeons

If the differences are purely location within a ZIP code for nearly identical stores (think Starbucks) then I'd let Google Places do the SEO work for you.

F-

Google Places permits an upload of multiple business locations @ https://www.google.com/local/add/g?hl=en-US&gl=US#uploadfeed
you may want to review this help page:
Common issues that delay the bulk verification process:
http://support.google.com/places/bin/answer.py?hl=en&answer=173669
This caveat may hinder a bulk upload:
Multiple listings at the same physical location are not permitted within one feed. Please consolidate multiple services or businesses under one title.

As for your example URL from an SEO perspective, underscores between words are a programming legacy from days when spaces could be misinterpreted between Unix and Windows servers and are not conducive to good SEO. With an underscore Google joins the two words and sees them that way so landing_page is seen as landingpage whereas landing-page is seen as landing page. See this Matt Cutts video http://www.youtube.com/watch?feature=player_embedded&v=AQcSFsQyct8

Is there any other way to differentiate locations (branch ID) that convey more meaningful information (from an SEO perspective) and that would permit you to utilize Google Places? A suite number, even if it's superfluous?
C

Jonathan -

Always a difficult task chasing (and obsessing over) a high a SERP. My search for your KW in Google found you at position 8. Perhaps your results are skewed by your search history and/or being logged into a Google account, which can personalize search results that give a higher weight to frequented searches and results (your own site).

Looking at you your competitors link profiles show much stronger domain authority and vastly greater number of links. You have only 1 externally followed link.Your on page SEO is better than some of them, but the strength of their link profiles trumps that.

Also check you loads times - I noticed your site was slow to come up, and I checked it in Google Page Speed where it time out, although a refresh did bring up an acceptable 83., so perhaps there is a third party item loading that is hanging up.

All things being equal, Google will put the most (or best) linked to site ahead. Quality links from trusted domains are the best way to insure a stronger, more consistent ranking.

Chas