Mixed-Use Property with
For Sale
$390,000
6861 Lenox Ave, Jacksonville, FL 32205
Renovated live-work property with a fenced lot, attached workshop, and flexible residential-commercial configuration.
Property Size2,028 SF
Lot Size0.25 Acres
Price / SF$192.31
Days on Market142
Property Features for 6861 Lenox Ave
General Information
Standard status
Active
Size
2,028 SF
Lot size
0.25 Acres
Property subtype
Commercial
Zoning
Residential/Commercial Mixed Use
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1975
Buildings
1
Listing Agency:
GAILEY ENTERPRISES LLC
(904) 646-7357
Listed By:
PARKER GAILEY · License #3389693
Source:
Jacksonvilleflhomeguide
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 29 at 10:44AM
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 GAILEY ENTERPRISES LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a residence with an attached workshop and offers 2,028 square feet of space on a 1/4-acre fully fenced lot. The current layout supports residential use alongside studio, storage, inventory, or business activities. A 40-foot shipping container with shelving adds dedicated storage capacity, while the workshop includes epoxy flooring, custom shelving, and a concrete ramp with a removable wall panel for access.
Renovations and updates include fresh interior and exterior paint, a 6-year-old metal roof, a recent electrical inspection, a new mini-split system, and new refrigerator, washer, and dryer. Bamboo flooring is installed in the living room and primary bedroom; the bonus room features pine ceilings and laminate flooring. Additional details include a sliding barn door off the kitchen and multiple security doors. The property is zoned for residential-commercial mixed use and is located at 6861 Lenox Ave in Jacksonville, Florida.
Renovations and updates include fresh interior and exterior paint, a 6-year-old metal roof, a recent electrical inspection, a new mini-split system, and new refrigerator, washer, and dryer. Bamboo flooring is installed in the living room and primary bedroom; the bonus room features pine ceilings and laminate flooring. Additional details include a sliding barn door off the kitchen and multiple security doors. The property is zoned for residential-commercial mixed use and is located at 6861 Lenox Ave in Jacksonville, Florida.
Key Highlights
- 2,028 SF mixed‑use property on a fully fenced 1/4‑acre lot
- Attached workshop with epoxy flooring, custom shelving, and concrete ramp
- 40‑foot shipping container with shelving for additional storage
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
$29,167
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
7.48%
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%
$583,340
$583.3K
Cap Rate 7%
$416,671
$416.7K
Cap Rate 9%
$324,078
$324.1K
Market Conditions
NOI Build-Up for 2,028 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
$48.7K $24.00/SF
− Vacancy
−$9.8K −$4.82/SF
EGI
$38.9K $19.18/SF
− OpEx
−$9.7K −$4.79/SF
NOI
$29.2K $14.38/SF
Area
Jacksonville, FL
Vacancy
20.10%
Lease Rate
$24.00 /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%
$583,340
Cap Rate 7%
$416,671
Cap Rate 9%
$324,078
Alternative Uses
Best Use
Office B
$416.7K
$364.6K – $486.1K
NOI $29,167 @ 7.0% cap · market cap 7.48%
Second Best
Mixed Use
$382.4K
$334.6K – $446.2K
NOI $26,770 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$555.6K
$486.1K – $648.2K
NOI $38,889 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
Explore this area
Business Placement
Demographics for 32205, FL
29,605
Population
16,188
Households
1.8
Avg Household Size
37
Median Age
36%
College-Educated
90%
High-School Grad
7.7 sq mi
ZIP Area
3,845
Density / Sq Mi
$60,609
Median Household Income
$43,122
Median Earnings
$1,190
Median Rent
$257,900
Median Home Value
Market
Vacancy Rate% for Office in Jacksonville, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated live-work property with a fenced lot, attached workshop, and flexible residential-commercial configuration.
Where is this mixed-use property located?
The property is located at 6861 Lenox Ave Jacksonville, FL.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: 2,028 SF mixed‑use property on a fully fenced 1/4‑acre lot; Attached workshop with epoxy flooring, custom shelving, and concrete ramp; 40‑foot shipping container with shelving for additional storage
