Office Units with Parkway
For Sale
$225,000
304 Clearview Pkwy, Metairie, LA 70001
Office-oriented commercial property with prominent corridor exposure and access to major regional routes.
Property Size1,511 SF
Price / SF$148.91
Days on Market224
Property Features for 304 Clearview Pkwy
General Information
Standard status
Active
Size
1,511 SF
Property subtype
Office
Zoning
RR3
Amenities
Power
Water
Sewer
Building Details
Year Built
1950
Listing Agency:
The Agency of M. Grass Group, LLC
(504) 237-3359
Listed By:
Matthew Grass · License #23286
(504) 237-3359
Source:
Lacdb.resimplifi
Added: Jan 19
Changed: Aug 30
Last Checked: Aug 30 at 5:45PM
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 The Agency of M. Grass Group, LLC
Investment Insights
Based on property information with market context.
This office-oriented commercial property at 304 Clearview Pkwy was built in 1950 and is positioned along a heavily traveled commercial corridor. The site offers potential for office occupancy, retail activity, or a home-office configuration, subject to applicable approvals and requirements.
Clearview Parkway recorded a traffic count of 66,092 vehicles per day in 2023, according to LADOTD. The property provides access to I-10 and Airline Hwy, with major commercial centers also identified in the surrounding area. It is located within a Tax Credit Market Area, a designation associated with potential development or business incentive eligibility.
Clearview Parkway recorded a traffic count of 66,092 vehicles per day in 2023, according to LADOTD. The property provides access to I-10 and Airline Hwy, with major commercial centers also identified in the surrounding area. It is located within a Tax Credit Market Area, a designation associated with potential development or business incentive eligibility.
Key Highlights
- 66,092 vehicles per day traffic count on Clearview Parkway in 2023
- Built in 1950
- Office, retail, or home‑office use potential stated in the listing
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
$18,359
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
8.16%
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%
$367,180
$367.2K
Cap Rate 7%
$262,271
$262.3K
Cap Rate 9%
$203,989
$204.0K
Market Conditions
NOI Build-Up for 1,511 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
$32.6K $21.60/SF
− Vacancy
−$3.3K −$2.16/SF
EGI
$29.4K $19.44/SF
− OpEx
−$11.0K −$7.29/SF
NOI
$18.4K $12.15/SF
Area
Metairie, LA
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$367,180
Cap Rate 7%
$262,271
Cap Rate 9%
$203,989
Alternative Uses
Best Use
Mixed Use
$262.3K
$229.5K – $306.0K
NOI $18,359 @ 7.0% cap · market cap 8.16%
Second Best
Office B
$259.5K
$227.1K – $302.8K
NOI $18,168 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$353.8K
$309.6K – $412.8K
NOI $24,769 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 70001, LA
40,068
Population
19,103
Households
2.1
Avg Household Size
39
Median Age
37%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
6,164
Density / Sq Mi
$70,187
Median Household Income
$43,662
Median Earnings
$1,145
Median Rent
$313,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office-oriented commercial property with prominent corridor exposure and access to major regional routes.
Where is this office units located?
The property is located at 304 Clearview Pkwy Metairie, LA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 66,092 vehicles per day traffic count on Clearview Parkway in 2023; Built in 1950; Office, retail, or home‑office use potential stated in the listing
