Manufacturing Property with
For Sale
$499,900
3297 River Rd N, Keizer, OR 97303
A rear staging area and separate parking lot support the property’s workshop configuration.
Property Size1,689 SF
Price / SF$295.97
Days on Market9
Property Features for 3297 River Rd N
General Information
Standard status
Active
Size
1,689 SF
Property subtype
Commercial
Building Details
Year Built
1939
Buildings
3
Listing Agency:
Vantage Point Brokers, LLC
Listed By:
Kevin Riley · License #201215784
(503) 580-1500
Source:
Portlandoregonhomelistings
Added: Sep 23
Changed: Sep 29
Last Checked: Sep 30 at 12:21PM
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 Vantage Point Brokers, LLC
Investment Insights
Based on property information with market context.
This manufacturing property in Keizer includes a main workshop, a rear area for parking and staging, and a dedicated parking lot. Two detached outbuildings add separate space, including one measuring approximately 30 by 30 feet and another designated for storage or expanded operations. The building dates to 1939.
The property is on River Road N in Keizer, Oregon, and occupies nearly an acre. Its zoning is described as flexible for a variety of potential uses.
The property is on River Road N in Keizer, Oregon, and occupies nearly an acre. Its zoning is described as flexible for a variety of potential uses.
Key Highlights
- Main workshop with a rear parking and staging area
- Dedicated parking lot
- Approximately 30‑by‑30‑foot outbuilding
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
$14,658
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
2.93%
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%
$293,160
$293.2K
Cap Rate 7%
$209,400
$209.4K
Cap Rate 9%
$162,867
$162.9K
Market Conditions
NOI Build-Up for 1,689 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
$21.8K $12.90/SF
− Vacancy
−$848 −$0.50/SF
EGI
$20.9K $12.40/SF
− OpEx
−$6.3K −$3.72/SF
NOI
$14.7K $8.68/SF
Area
Marion County, OR
Vacancy
3.89%
Lease Rate
$12.90 /SF/Yr
Expense Ratio
30.00%
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%
$293,160
Cap Rate 7%
$209,400
Cap Rate 9%
$162,867
Alternative Uses
Best Use
Industrial
$209.4K
$183.2K – $244.3K
NOI $14,658 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$397.2K
$347.6K – $463.4K
NOI $27,806 @ 7.0% cap · market cap 5.56%
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
578
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Manufacturing property - A rear staging area and separate parking lot support the property’s workshop configuration.
Where is this manufacturing property located?
The property is located at 3297 River Rd N Keizer, OR.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Main workshop with a rear parking and staging area; Dedicated parking lot; Approximately 30‑by‑30‑foot outbuilding
