Clearview Mini Storage
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For Sale
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4408 Hearst St, Metairie, LA 70001
Owner-managed self-storage facility with approximately 95% physical occupancy.
Property Size19,466 SF
Price / SF$97.61
Days on Market5
Property Features for 4408 Hearst St
General Information
Standard status
Active
Size
19,466 SF
Property subtype
Self Storage
Occupancy
95%
Listing Agency:
Lee & Associates Louisiana
Listed By:
Will Watson · License #995701278-ACT
(318) 914-1576
Source:
Crexi
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 13 at 7:24AM
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 Lee & Associates Louisiana
Investment Insights
Based on property information with market context.
Clearview Mini Storage is an owner-managed self-storage facility in Metairie, Louisiana, with 19,466 net rentable square feet. Physical occupancy is approximately 95% year over year, providing an established operating profile for the property.
The facility is located at 4408 Hearst St within the New Orleans MSA. Approximately 135,173 residents live within a three-mile radius, where median household income is $76,387. The surrounding area is described as densely populated, and the property is identified as having limited new self-storage supply nearby.
The facility is located at 4408 Hearst St within the New Orleans MSA. Approximately 135,173 residents live within a three-mile radius, where median household income is $76,387. The surrounding area is described as densely populated, and the property is identified as having limited new self-storage supply nearby.
Key Highlights
- 19,466 net rentable square feet of self‑storage space
- Approximately 95% physical occupancy year over year
- Owner‑managed facility
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
$165,477
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
8.71%
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%
$3,309,540
$3.3M
Cap Rate 7%
$2,363,957
$2.4M
Cap Rate 9%
$1,838,633
$1.8M
Market Conditions
NOI Build-Up for 19,466 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
$257.0K $13.20/SF
− Vacancy
−$20.6K −$1.06/SF
EGI
$236.4K $12.14/SF
− OpEx
−$70.9K −$3.64/SF
NOI
$165.5K $8.50/SF
Area
Metairie, LA
Vacancy
8.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$3,309,540
Cap Rate 7%
$2,363,957
Cap Rate 9%
$1,838,633
Alternative Uses
Best Use
Warehouse
$4.06M
$3.55M – $4.73M
NOI $284,040 @ 7.0% cap · market cap 14.95%
Second Best
Self Storage
$2.36M
$2.07M – $2.76M
NOI $165,477 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$4.56M
$3.99M – $5.32M
NOI $319,092 @ 7.0% cap · market cap 16.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
95%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,575
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Owner-managed self-storage facility with approximately 95% physical occupancy.
Where is this self storage facility located?
The property is located at 4408 Hearst St Metairie, LA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 19,466 net rentable square feet of self‑storage space; Approximately 95% physical occupancy year over year; Owner‑managed facility
