Keizer Industrial Flex
3642-3646 Candlewood Dr NE, Keizer, OR 97303
2,595 SF industrial flex building in Keizer, Oregon.
Type:Industrial
Property size:
2,595 SFLot size:
0.12 AcresPrice / SF:
$238/SF- Added:
- Feb 23, 2026
- Days on Market:
- 133
- Last Refresh:
- Jul 4 at 1:26 pm
Property Features for 3642-3646 Candlewood Dr NE
General Information
- Standard status
- Active
- Size
- 2,595 SF
- Lot size
- 0.12 Acres
- Property subtype
- Industrial
Listing office Tradition Real Estate Partners
Listing date Feb 23, 2026
Source Crexi
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
HighLights
- Owner user opportunity with one month‑to‑month tenant, providing flexibility.
- Solid 6% capitalization rate with a Net Operating Income (NOI) of $56,400.
- 2,595 square foot industrial flex building with four functional units.
- Each unit features a drive‑in bay door, warehouse space, and a mezzanine with a small office.
- Located in Keizer, Oregon, just four miles from Salem, with easy access to Interstate 5.
- Located within the Industrial General (IG) zone.
Overview
Located in Keizer, Oregon, approximately four miles from Salem's city center, the property at 3642-3646 Candlewood Ct NE is a 2,595 square foot industrial flex building situated within a dynamic industrial and commercial area. Keizer, a city of around 40,000 residents, combines small-town charm with a location along the Willamette River. The property benefits from convenient access to major roads such as River Road NE and Chemawa Road NE, with Interstate 5 located just minutes away, facilitating easy travel throughout the region. The surrounding area features a mix of industrial operations, retail centers like Keizer Station, and residential neighborhoods, along with local restaurants, parks, and amenities that appeal to tenants. The property is fully occupied across four functional industrial flex units, each equipped with a drive-in bay door, warehouse space, and a mezzanine featuring a small office. One tenant is currently on a month-to-month lease, providing an opportunity for an owner user to occupy a unit or continue leasing for investment purposes. Positioned on a 0.12-acre lot, this industrial flex property is suitable for industrial flex investors, owner users, and tenants.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.6k | $22.20 |
| − Vacancy | −$15.3k | −$5.91 |
| EGI | $42.3k | $16.29 |
| − OpEx | −$10.6k | −$4.07 |
| NOI | $31.7k | $12.22 |
2,595 SF · lease $22.20/SF/yr · vacancy 26.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 5.12%
Second Best
Warehouse
$390.7K
$341.8K – $455.8K
NOI $27,347 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$610.3K
$534.0K – $712.0K
NOI $42,721 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Flex space
Similar Places Nearby
- Elegant Catering — 3185 Broadway St NE, Salem, OR 97303
- Mayrene's Catering — 2025 Carleton Way NE, Salem, OR 97301
Location Insight
- Map
- Local Demand
- City
- Keizer
- County
- Marion
- State
- Oregon
- Longitude
- -123.0101439
- Latitude
- 44.9788486
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - 2,595 SF industrial flex building in Keizer, Oregon.
Where is this flex space located?
The property is located at 3642-3646 Candlewood Dr NE Keizer, OR.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Owner user opportunity with one month‑to‑month tenant, providing flexibility.; Solid 6% capitalization rate with a Net Operating Income (NOI) of $56,400.; **2,595 square foot industrial flex building with four functional units.**
