Keizer Industrial Flex
For Sale
Contact for pricing
3642-3646 Candlewood Dr NE, Keizer, OR 97303
2,595 SF industrial flex building in Keizer, Oregon.
Property Size2,595 SF
Lot Size0.12 Acres
Price / SF$238.92
Days on Market179
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
Zoning
Industrial General (IG)
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$56,400
Building Details
Units
4
Listing Agency:
Tradition Real Estate Partners
(503) 910-3055
Listed By:
AJ Nash · License #OR 201208908
Source:
Crexi
Added: Feb 23
Changed: Aug 17
Last Checked: Aug 14 at 6:05AM
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
Investment Insights
Based on property information with market context.
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.
Key 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.**
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
$22,521
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
3.63%
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%
$450,420
$450.4K
Cap Rate 7%
$321,729
$321.7K
Cap Rate 9%
$250,233
$250.2K
Market Conditions
NOI Build-Up for 2,595 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
$33.5K $12.90/SF
− Vacancy
−$1.3K −$0.50/SF
EGI
$32.2K $12.40/SF
− OpEx
−$9.7K −$3.72/SF
NOI
$22.5K $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%
$450,420
Cap Rate 7%
$321,729
Cap Rate 9%
$250,233
Alternative Uses
Best Use
Industrial
$321.7K
$281.5K – $375.4K
NOI $22,521 @ 7.0% cap · market cap 3.63%
Second Best
Flex RnD
$268.6K
$235.1K – $313.4K
NOI $18,804 @ 7.0% cap · market cap 3.03%
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Under-served
Demand for This Use
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
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mayrene's Catering — 2025 Carleton Way NE, Salem, OR 97301
Frequently Asked Questions
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.**
