Live-Work Space with Attached
For Sale
$390,000
6861 Lenox Avenue, Jacksonville, FL 32205
COMMERCIAL - Jacksonville, FL
Property Size2,028 SF
Lot Size0.26 Acres
Price / SF$192.31
Days on Market17
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
(352) 897-2018
Added: Jul 28
Changed: Aug 4
Last Checked: Aug 13 at 5:06AM
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.
Live-work space currently configured as a residence with an art studio, featuring a large attached workshop designed for business use on-site. The workshop includes epoxy-coated floors, 200-amp electrical service, a firewall constructed with steel studs, and a large sliding door with a concrete access ramp plus a removable wall panel for moving oversized equipment or materials. Custom built-in shelving runs throughout the workspace. A new whole-building instant tankless water heater provides hot water for the entire property.
The residence on a fully fenced 1/4-acre lot was extensively renovated and updated with fresh interior and exterior paint. Improvements include a 6-year-old metal roof, a recent electrical inspection, a new mini-split HVAC system, and new refrigerator and washer and dryer. Interior finishes include bamboo flooring in the living room and primary bedroom, pine ceilings, laminate flooring in the bonus room, and a sliding barn door off the kitchen. Multiple security doors are included.
Additional on-site storage includes a 40-foot shipping container with built-in shelving. Built in 1975, the property uses public water and includes forced-air, electric heating.
The residence on a fully fenced 1/4-acre lot was extensively renovated and updated with fresh interior and exterior paint. Improvements include a 6-year-old metal roof, a recent electrical inspection, a new mini-split HVAC system, and new refrigerator and washer and dryer. Interior finishes include bamboo flooring in the living room and primary bedroom, pine ceilings, laminate flooring in the bonus room, and a sliding barn door off the kitchen. Multiple security doors are included.
Additional on-site storage includes a 40-foot shipping container with built-in shelving. Built in 1975, the property uses public water and includes forced-air, electric heating.
Key Highlights
- 1/4‑acre fully fenced lot with a live‑work residence and art studio setup
- Attached workshop with epoxy‑coated floors, 200‑amp electrical service, and steel‑stud firewall
- Large sliding workshop door with concrete access ramp and removable wall panel for oversized moves
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?
Live-work space - Zoned for residential/commercial mixed use, this live-work property includes a large attached workshop with epoxy-coated floors and 200-amp power.
Where is this live-work space located?
The property is located at 6861 Lenox Avenue 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: 1/4‑acre fully fenced lot with a live‑work residence and art studio setup; Attached workshop with epoxy‑coated floors, 200‑amp electrical service, and steel‑stud firewall; Large sliding workshop door with concrete access ramp and removable wall panel for oversized moves
