Medical Office
For Sale
$479,900
333 Nw 3rd Ave, Canby, OR 97013
C-1 zoning supports residential and commercial uses, with stated vertical expansion potential up to 45 feet.
Property Size1,392 SF
Price / SF$344.76
Days on Market13
Property Features for 333 Nw 3rd Ave
General Information
Standard status
Active
Size
1,392 SF
Property subtype
Commercial
Zoning
C-1
Building Details
Year Built
1971
Listing Agency:
Equity Oregon Real Estate
Listed By:
Rod Adams · License #200111040
(503) 984-0950
Source:
Portlandoregonhomelistings
Added: Sep 22
Changed: Oct 1
Last Checked: Oct 4 at 10:15AM
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 Equity Oregon Real Estate
Investment Insights
Based on property information with market context.
This medical office property was previously occupied by a dental clinic. The existing building dates to 1971, and the site carries C-1 downtown residential/commercial zoning. The property information identifies vertical expansion potential, with building height up to 45 feet.
Located at 333 NW 3rd Ave in downtown Canby, the property is suited to medical or professional office use under its stated zoning.
Located at 333 NW 3rd Ave in downtown Canby, the property is suited to medical or professional office use under its stated zoning.
Key Highlights
- Former dental clinic use
- C‑1 downtown residential/commercial zoning
- Potential building height 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 uses, with stated vertical expansion potential up to 45 feet.
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: Former dental clinic use; C‑1 downtown residential/commercial zoning; Potential building height up to 45 feet
