1184 Mcgee Court NE, Keizer, OR 97303

Building Details

Buildings 1 More

Building Size 7,330 SF More

Listing Agency: Tradition Real Estate Partners

Listed By: AJ Nash · License OR #201208908 Show Phone

Source: Crexi

Added: Oct 5 Changed: Nov 8 Last Checked: Nov 10 at 5:03AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Tradition Real Estate Partners

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This freestanding professional office building contains 7,330 square feet and has been renovated. On-site parking serves the property, which sits on McGee Court in a cul-de-sac setting just off River Road N. The building is offered for sale.

Interstate 5 is minutes away, as are Keizer Station and a range of retail, dining, and business services. The surrounding area includes professional offices, medical providers, financial institutions, restaurants, retail, and residential neighborhoods, with connections across Salem and Keizer.

Key Highlights

• Renovated 7,330‑square‑foot freestanding professional office building
• On‑site parking
• Located on McGee Court, just off River Road N

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$89,581

Cap Rate

4.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,791,620 $1.8M

Cap Rate 7%

$1,279,729 $1.3M

Cap Rate 9%

$995,344 $995.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,330 SF

Gross rent

$162.7K $22.20/SF

− Vacancy

−$43.3K −$5.91/SF

EGI

$119.4K $16.29/SF

− OpEx

−$29.9K −$4.07/SF

NOI

$89.6K $12.22/SF

Area

Marion County, OR

Vacancy

26.60%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,791,620

Cap Rate 7%

$1,279,729

Cap Rate 9%

$995,344

Alternative Uses

Best Use

Office B

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,581 @ 7.0% cap · market cap 4.64%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.72M

$1.51M – $2.01M (±1% cap)

NOI $120,672 @ 7.0% cap · market cap 6.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Office buildings

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Dental Office Hair Salon Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

160

Businesses Nearby

Explore this area Business Placement

Demographics for 97303, OR

41,441

Population

15,740

Households

2.6

Avg Household Size

38

Median Age

27%

College-Educated

90%

High-School Grad

24.9 sq mi

ZIP Area

1,664

Density / Sq Mi

$81,057

Median Household Income

$45,034

Median Earnings

$1,361

Median Rent

$396,700

Median Home Value

Market

Average Price Trend$/SF for Office buildings in Marion County, OR

$206 Jul

$182 Aug

$339 Sep

$332 Oct

Properties on Market for Office buildings in Marion County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Renovated professional space includes on-site parking in a cul-de-sac setting.

Where is this office building located?

The property is located at 1184 Mcgee Court NE Keizer, OR.

What is the asking price?

The asking price for this property is $1,930,000.

What are key features of this property?

This property features: Renovated 7,330‑square‑foot freestanding professional office building; On‑site parking; Located on McGee Court, just off River Road N