Office Condo Suite with Private
For Sale
$248,000
3795 # 3a River Rd N, Keizer, OR 97303
Configured with private offices, reception space, two restrooms, storage, and a kitchenette within an established office complex.
Property Size1,318 SF
Price / SF$188.16
Days on Market199
Property Features for 3795 # 3a River Rd N
General Information
Standard status
Active
Size
1,318 SF
Property subtype
Commercial
Building Details
Year Built
1980
Tenancy
Single
Listing Agency:
Zenith Realty, Llc
(503) 580-2941
Listed By:
PRISCILLA BEGGS 503-580-2941 · License #971100070
Source:
Searchsalemhomelistings
Added: Feb 12
Changed: Aug 30
Last Checked: Aug 30 at 1:13PM
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 Zenith Realty, Llc
Investment Insights
Based on property information with market context.
This office condominium suite contains 1,318 square feet with a layout that includes private offices, a spacious reception area, two restrooms, a storage and file room, and a kitchenette. The suite was updated before the current tenancy, and its heating unit was replaced in 2023.
The property is located within River Rd Plaza, an office complex with on-site parking and high traffic. The suite is currently occupied, providing an existing tenancy within a professionally configured office setting. Built in 1980, the property offers a practical combination of private work areas and shared reception-oriented space.
The property is located within River Rd Plaza, an office complex with on-site parking and high traffic. The suite is currently occupied, providing an existing tenancy within a professionally configured office setting. Built in 1980, the property offers a practical combination of private work areas and shared reception-oriented space.
Key Highlights
- 1,318‑square‑foot office condominium suite
- Private offices with spacious reception area
- Two restrooms, storage/file room, and kitchenette
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
$16,107
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
6.49%
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%
$322,140
$322.1K
Cap Rate 7%
$230,100
$230.1K
Cap Rate 9%
$178,967
$179.0K
Market Conditions
NOI Build-Up for 1,318 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
$29.3K $22.20/SF
− Vacancy
−$7.8K −$5.91/SF
EGI
$21.5K $16.29/SF
− OpEx
−$5.4K −$4.07/SF
NOI
$16.1K $12.22/SF
Area
Marion County, OR
Vacancy
26.60%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
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%
$322,140
Cap Rate 7%
$230,100
Cap Rate 9%
$178,967
Alternative Uses
Best Use
Office B
$230.1K
$201.3K – $268.5K
NOI $16,107 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$310.0K
$271.2K – $361.6K
NOI $21,698 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured with private offices, reception space, two restrooms, storage, and a kitchenette within an established office complex.
Where is this office units located?
The property is located at 3795 # 3a River Rd N Keizer, OR.
What is the asking price?
The asking price for this property is $248,000.
What are key features of this property?
This property features: 1,318‑square‑foot office condominium suite; Private offices with spacious reception area; Two restrooms, storage/file room, and kitchenette
