Industrial Flex Building in
3662-3668 Candlewood Ct NE, Keizer, OR 97303
Fully occupied industrial flex building with strong investment potential.
Type:Industrial
Property size:
4,825 SFLot size:
0.32 AcresPrice / SF:
$206/SF- Added:
- Feb 23, 2026
- Days on Market:
- 134
- Last Refresh:
- Jul 4 at 12:03 pm
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
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
- 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.
- Strategic Location: Situated in Keizer, Oregon, a thriving industrial and commercial hub, just four miles north of Salem.
- Excellent Access: Close proximity to major arterials (River Road NE, Chemawa Road NE) and Interstate 5 for regional connectivity.
- Low‑Maintenance: Situated on a 0.32‑acre lot, simplifying property upkeep.
Overview
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.
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 | $107.1k | $22.20 |
| − Vacancy | −$28.5k | −$5.91 |
| EGI | $78.6k | $16.29 |
| − OpEx | −$19.7k | −$4.07 |
| NOI | $59.0k | $12.22 |
4,825 SF · lease $22.20/SF/yr · vacancy 26.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$842.4K
$737.1K – $982.8K
NOI $58,967 @ 7.0% cap · market cap 5.93%
Second Best
Warehouse
$726.4K
$635.6K – $847.5K
NOI $50,848 @ 7.0% cap · market cap 5.11%
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 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
- -123.016953
- Latitude
- 44.978249
Nearby Similar for Sale
FAQs
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.
