Medical Office with Central
New
For Sale
$479,900
333 NW 3RD Ave, Canby, OR 97013
CommercialSale, Canby, OR
Property Size1,392 SF
Price / SF$344.76
Days on Market3
Property Features for 333 NW 3RD Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C-1
View
Park
Directions
Hwy 99E, N on N Grant St to NW 3rd Ave (second business from corner)
Subdivision
_146
Standard status
Active
APN
00793145
Size
1,392 SF
Taxes and HOA fees
Tax Description
14 CANBY PT LT 11&12 BLK 10
Tax Annual Amount
3327
Legal Description
14 CANBY PT LT 11&12 BLK 10
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1971
Floors in Building
2
Roof type
Composition
Listing Agency:
Equity Oregon Real Estate
(503) 266-3657
Listed By:
Rod Adams · License #200111040
(503) 984-0950
Added: Sep 24
Last Checked: Sep 26 at 10:06AM
MLS# 413750376
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,392-square-foot medical office property was previously used as a dental clinic. Built in 1971, it has forced-air heating, central air conditioning, and a composition roof.
The property is in downtown Canby and carries C-1 zoning for residential and commercial use. Vertical expansion potential up to 45 feet is identified for the building.
The property is in downtown Canby and carries C-1 zoning for residential and commercial use. Vertical expansion potential up to 45 feet is identified for the building.
Key Highlights
- 1,392 square feet; previously used as a dental clinic
- C‑1 downtown residential/commercial zoning
- Vertical expansion potential up to 45 feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,290
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,800
$425.8K
Cap Rate 7%
$304,143
$304.1K
Cap Rate 9%
$236,556
$236.6K
Market Conditions
NOI Build-Up for 1,392 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.3K $29.64/SF
− Vacancy
−$5.8K −$4.15/SF
EGI
$35.5K $25.49/SF
− OpEx
−$14.2K −$10.20/SF
NOI
$21.3K $15.29/SF
Area
Clackamas County, OR
Vacancy
14.00%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,800
Cap Rate 7%
$304,143
Cap Rate 9%
$236,556
Alternative Uses
Best Use
Healthcare Medical
$304.1K
$266.1K – $354.8K
NOI $21,290 @ 7.0% cap · market cap 4.44%
Second Best
Office B
$257.4K
$225.2K – $300.3K
NOI $18,019 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$375.7K
$328.8K – $438.4K
NOI $26,301 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97013, OR
24,512
Population
9,152
Households
2.7
Avg Household Size
41
Median Age
30%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
416
Density / Sq Mi
$99,343
Median Household Income
$49,207
Median Earnings
$1,439
Median Rent
$509,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - C-1 zoning supports residential and commercial use in this downtown Canby property.
Where is this medical office space located?
The property is located at 333 NW 3RD Ave Canby, OR.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 1,392 square feet; previously used as a dental clinic; C‑1 downtown residential/commercial zoning; Vertical expansion potential up to 45 feet
