Mixed-Use Building with
For Sale
$1,100,000
3843 River Rd, Keizer, OR 97303
Two-story commercial property combines a leased Japanese restaurant with versatile rooms, bathroom, and laundry facilities upstairs.
Property Size4,090 SF
Days on Market19
Property Features for 3843 River Rd
General Information
Standard status
Active
Size
4,090 SF
Property subtype
Commercial
Zoning
MU
Taxes and HOA fees
Annual Taxes
$5,830
Amenities
laundry facilities
Building Details
Building Size
4,090 SF
Year Built
1976
Buildings
1
Stories
2
Listing Agency:
Forum Real Estate LLC
(971) 533-2338
Listed By:
Sitka Chiu
(971) 533-2338
Source:
Allprofessionalsre
Added: Aug 8
Changed: Aug 24
Last Checked: Aug 25 at 8:32AM
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 Forum Real Estate LLC
Investment Insights
Based on property information with market context.
This two-story mixed-use commercial building includes a Japanese restaurant on the ground floor and a separate upstairs configuration with five rooms, a full bathroom, and laundry facilities. The upper level may accommodate office, staff, rental, or other uses, subject to buyer verification.
The restaurant space is leased under a newly renewed 5-year lease dated 2025. Positioned at 3843 River Rd N in Keizer, Oregon, the property combines an operating restaurant component with additional interior rooms and support facilities.
The restaurant space is leased under a newly renewed 5-year lease dated 2025. Positioned at 3843 River Rd N in Keizer, Oregon, the property combines an operating restaurant component with additional interior rooms and support facilities.
Key Highlights
- Two‑story mixed‑use commercial building at 3843 River Rd N, Keizer, OR
- Ground‑floor Japanese restaurant with a newly renewed 5‑year lease (2025)
- Upstairs includes five rooms, a full bathroom, and laundry facilities
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
$67,333
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
6.12%
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%
$1,346,660
$1.3M
Cap Rate 7%
$961,900
$961.9K
Cap Rate 9%
$748,144
$748.1K
Market Conditions
NOI Build-Up for 4,090 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
$132.0K $32.28/SF
− Vacancy
−$42.2K −$10.33/SF
EGI
$89.8K $21.95/SF
− OpEx
−$22.4K −$5.49/SF
NOI
$67.3K $16.46/SF
Area
Marion County, OR
Vacancy
32.00%
Lease Rate
$32.28 /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%
$1,346,660
Cap Rate 7%
$961,900
Cap Rate 9%
$748,144
Alternative Uses
Best Use
Specialty Retail
$961.9K
$841.7K – $1.12M
NOI $67,333 @ 7.0% cap · market cap 6.12%
Second Best
Mixed Use
$745.8K
$652.6K – $870.2K
NOI $52,209 @ 7.0% cap · market cap 4.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
820
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story commercial property combines a leased Japanese restaurant with versatile rooms, bathroom, and laundry facilities upstairs.
Where is this mixed-use property located?
The property is located at 3843 River Rd Keizer, OR.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two‑story mixed‑use commercial building at 3843 River Rd N, Keizer, OR; Ground‑floor Japanese restaurant with a newly renewed 5‑year lease (2025); Upstairs includes five rooms, a full bathroom, and laundry facilities
