Mixed-Use Property with
For Sale
$385,000
6861 Lenox Avenue, Jacksonville, FL 32205
Commercial Sale, Jacksonville, FL
Property Size2,028 SF
Lot Size0.26 Acres
Price / SF$189.84
Days on Market62
Property Features for 6861 Lenox Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Fencing
Fenced
Subdivision
Southwest
Standard status
Active
APN
0116830010
Size
2,028 SF
Lot size
0.26 Acres
Utilities
Heating system
Forced Air, Electric (Heating)
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Flooring type
Hardwood, Tile
Listing Agency:
GAILEY ENTERPRISES REAL ESTATE
(352) 897-2018
Listed By:
Rhonda Gailey · License #3395648
(770) 733-2596
Added: Jul 28
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 11906764
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Configured as a residence with an art studio, this 2,028-square-foot mixed-use property includes a large attached workshop. The workspace has epoxy-coated floors, 200-amp electrical service, custom shelving, and a sliding door with a concrete ramp and removable wall panel for moving oversized items. A steel-stud firewall separates the workshop. The property also has a whole-building tankless water heater and a 40-foot shipping container with built-in shelving.
Residential features include bamboo flooring in the living room and primary bedroom, pine ceilings in the bonus room, and a mini-split HVAC system. The metal roof is 6 years old; other improvements include fresh interior and exterior paint and a recent electrical inspection. The fully fenced property is zoned for residential and commercial mixed use and is located in Jacksonville, Florida.
Residential features include bamboo flooring in the living room and primary bedroom, pine ceilings in the bonus room, and a mini-split HVAC system. The metal roof is 6 years old; other improvements include fresh interior and exterior paint and a recent electrical inspection. The fully fenced property is zoned for residential and commercial mixed use and is located in Jacksonville, Florida.
Key Highlights
- Attached workshop with epoxy floors, 200‑amp electrical service, built‑in shelving and a steel‑stud firewall
- Workshop access includes a sliding door, concrete ramp and removable wall panel
- 2,028‑square‑foot property configured as a residence with an art studio
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
7.58%
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 7.58%
Second Best
Mixed Use
$382.4K
$334.6K – $446.2K
NOI $26,770 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$555.6K
$486.1K – $648.2K
NOI $38,889 @ 7.0% cap · market cap 10.10%
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
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Jacksonville, FL
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A residence and art studio share the property with a substantial attached workspace.
Where is this mixed-use property located?
The property is located at 6861 Lenox Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Attached workshop with epoxy floors, 200‑amp electrical service, built‑in shelving and a steel‑stud firewall; Workshop access includes a sliding door, concrete ramp and removable wall panel; 2,028‑square‑foot property configured as a residence with an art studio
