Keizer Warehouse and Shop
For Sale
$1,950,000
6494 Windsor Island Rd N, Keizer, OR 97303
Multiple buildings with warehouse, shop, office, and cold storage.
Property Size21,000 SF
Days on Market305
Property Features for 6494 Windsor Island Rd N
General Information
Standard status
Active
Size
21,000 SF
Property subtype
Industrial
Building Details
Building Size
21,000 SF
Year Built
1980
Listing Agency:
Tradition Real Estate Partners
Listed By:
Dave Smith · License #OR #201215251
(503) 939-7099
Source:
Traditionrep
Added: Nov 25, 2025
Changed: Sep 23
Last Checked: Sep 26 at 4:32AM
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 Tradition Real Estate Partners
Investment Insights
Based on property information with market context.
This property features a 13,177-square-foot warehouse and shop space with offices and cold storage. Additionally, there is a 1,800-square-foot multipurpose building equipped with water and power. A 2,790-square-foot shop with concrete floors and four roll-up doors is also present, along with a 1,056-square-foot manufactured office. The property includes 2.8 acres of yard space and benefits from a flexible zone code.
Key Highlights
- 13177sf Warehouse/Shop with Offices + Cold Storage
- 2.8 Acres of Yard Space
- Very Flexible Zone Code
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
$152,170
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
7.80%
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%
$3,043,400
$3.0M
Cap Rate 7%
$2,173,857
$2.2M
Cap Rate 9%
$1,690,778
$1.7M
Market Conditions
NOI Build-Up for 21,000 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
$252.0K $12.00/SF
− Vacancy
−$17.9K −$0.85/SF
EGI
$234.1K $11.15/SF
− OpEx
−$81.9K −$3.90/SF
NOI
$152.2K $7.25/SF
Area
Marion County, OR
Vacancy
7.10%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$3,043,400
Cap Rate 7%
$2,173,857
Cap Rate 9%
$1,690,778
Alternative Uses
Best Use
Warehouse
$3.16M
$2.77M – $3.69M
NOI $221,308 @ 7.0% cap · market cap 11.35%
Second Best
Industrial
$2.60M
$2.28M – $3.04M
NOI $182,253 @ 7.0% cap · market cap 9.35%
Theoretical Best
Specialty Retail
$4.94M
$4.32M – $5.76M
NOI $345,719 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- All Weathers Storage — 5555 Windsor Island Rd N, Keizer, OR 97303
Frequently Asked Questions
What type of property is this?
Warehouse - Multiple buildings with warehouse, shop, office, and cold storage.
Where is this warehouse located?
The property is located at 6494 Windsor Island Rd N Keizer, OR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 13177sf Warehouse/Shop with Offices + Cold Storage; 2.8 Acres of Yard Space; Very Flexible Zone Code
