Industrial Flex Building in
For Sale
Contact for pricing
3662-3668 Candlewood Ct NE, Keizer, OR 97303
Fully occupied industrial flex building with strong investment potential.
Property Size4,825 SF
Lot Size0.32 Acres
Price / SF$206.22
Days on Market180
Property Features for 3662-3668 Candlewood Ct NE
General Information
Standard status
Active
Size
4,825 SF
Lot size
0.32 Acres
Property subtype
Industrial
Zoning
Industrial General (IG)
Occupancy
100%
Investment Type
Owner/User
Net Operating Income
$59,600
Listing Agency:
Tradition Real Estate Partners
(503) 910-3055
Listed By:
AJ Nash · License #OR 201208908
Source:
Crexi
Added: Feb 23
Changed: Aug 14
Last Checked: Aug 14 at 7:25AM
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 at 3662-3668 Candlewood Ct NE in Keizer, Oregon, this industrial flex building offers 4,825 square feet of fully occupied commercial space within the Industrial General (IG) zone. The property comprises four well-designed industrial flex units, each featuring a drive-in bay door, warehouse space, and a mezzanine with a small office. Situated on a 0.32-acre lot, this low-maintenance industrial flex property presents an investment opportunity in Keizer’s industrial flex market. Positioned in the heart of Keizer, Oregon, just four miles north of Salem, the property is strategically located in a dynamic industrial and commercial hub. Keizer is celebrated for its small-town charm and proximity to the Willamette River. The property enjoys access to major arterials such as River Road NE and Chemawa Road NE, with Interstate 5 nearby for regional connectivity. The surrounding area features a blend of industrial facilities, retail centers like Keizer Station, and residential neighborhoods, with local dining, parks, and amenities enhancing tenant appeal. Its proximity to Salem’s government and business districts further solidifies its value for investors and tenants.
Key Highlights
- Strong Investment: 5.99% capitalization rate based on a $59,600 Net Operating Income (NOI).
- Industrial Flex Building: Features four well‑designed units, each with a drive‑in bay door, warehouse space, and mezzanine office.
- Fully Occupied: Provides immediate income and reduces initial vacancy risk.
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
$41,875
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
4.21%
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%
$837,500
$837.5K
Cap Rate 7%
$598,214
$598.2K
Cap Rate 9%
$465,278
$465.3K
Market Conditions
NOI Build-Up for 4,825 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
$62.2K $12.90/SF
− Vacancy
−$2.4K −$0.50/SF
EGI
$59.8K $12.40/SF
− OpEx
−$17.9K −$3.72/SF
NOI
$41.9K $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%
$837,500
Cap Rate 7%
$598,214
Cap Rate 9%
$465,278
Alternative Uses
Best Use
Industrial
$598.2K
$523.4K – $697.9K
NOI $41,875 @ 7.0% cap · market cap 4.21%
Second Best
Flex RnD
$499.5K
$437.0K – $582.7K
NOI $34,963 @ 7.0% cap · market cap 3.51%
Theoretical Best
Specialty Retail
$1.13M
$992.9K – $1.32M
NOI $79,433 @ 7.0% cap · market cap 7.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
699
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
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Similar Off Market Nearby
- Elegant Catering — 3185 Broadway St NE, Salem, OR 97303
- Mayrene's Catering — 2025 Carleton Way NE, Salem, OR 97301
Frequently Asked Questions
What type of property is this?
Flex space - Fully occupied industrial flex building with strong investment potential.
Where is this flex space located?
The property is located at 3662-3668 Candlewood Ct NE Keizer, OR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Strong Investment: 5.99% capitalization rate based on a $59,600 Net Operating Income (NOI).; Industrial Flex Building: Features four well‑designed units, each with a drive‑in bay door, warehouse space, and mezzanine office.; Fully Occupied: Provides immediate income and reduces initial vacancy risk.
