Listing Agency: Lee & Associates Louisiana

Listed By: Will Watson · License #995701278-ACT Show Phone

Source: Crexi

Added: Sep 9 Changed: Oct 25 Last Checked: Oct 28 at 8:30AM

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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.

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 / Yr

$165,477

Cap Rate

8.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,309,540 $3.3M

Cap Rate 7%

$2,363,957 $2.4M

Cap Rate 9%

$1,838,633 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,466 SF

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 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 (±1% cap)

NOI $284,040 @ 7.0% cap · market cap 14.95%

Second Best

Self Storage

$2.36M

$2.07M – $2.76M (±1% cap)

NOI $165,477 @ 7.0% cap · market cap 8.71%

Theoretical Best

Office A

$4.56M

$3.99M – $5.32M (±1% cap)

NOI $319,092 @ 7.0% cap · market cap 16.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Clearview Mini Storage Storage Facility

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Restaurant Auto Parts Store Parking Lot & Garage Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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