Live-Work Space 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 Market34
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
Electric (Heating), Forced Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Flooring type
Tile, Hardwood
Listing Agency:
GAILEY ENTERPRISES REAL ESTATE
(352) 897-2018
Listed By:
Rhonda Gailey · License #3395648
(352) 897-2018
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 30 at 3:06PM
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.
This live-work property combines a residence with an art studio and a large attached workshop. The 2,028-square-foot building includes epoxy-coated workshop flooring, 200-amp electrical service, steel-stud firewall construction, built-in shelving, and a sliding door with a concrete ramp and removable wall panel for equipment or material access. A 40-foot shipping container with interior shelving provides additional storage. The property also has a whole-building instant tankless water heater, mini-split HVAC, electric forced-air heating, public water, and multiple security doors.
The residence has been updated with fresh interior and exterior paint, a 6-year-old metal roof, recent electrical inspection, bamboo flooring in the living room and primary bedroom, a sliding barn door, and a bonus room with pine ceilings and laminate flooring. Set on a fully fenced 0.26-acre lot at 6861 Lenox Avenue in Jacksonville, Florida, the property is zoned for residential/commercial mixed use and supports combined residential, studio, workshop, and storage functions.
The residence has been updated with fresh interior and exterior paint, a 6-year-old metal roof, recent electrical inspection, bamboo flooring in the living room and primary bedroom, a sliding barn door, and a bonus room with pine ceilings and laminate flooring. Set on a fully fenced 0.26-acre lot at 6861 Lenox Avenue in Jacksonville, Florida, the property is zoned for residential/commercial mixed use and supports combined residential, studio, workshop, and storage functions.
Key Highlights
- 2,028‑square‑foot live‑work property with residence, art studio, and attached workshop
- Workshop includes 200‑amp electrical service, epoxy‑coated floors, and custom built‑in shelving
- Sliding workshop door has a concrete access ramp and removable wall panel
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
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use property combines a renovated residence with a substantial attached workshop and dedicated storage improvements.
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 $385,000.
What are key features of this property?
This property features: 2,028‑square‑foot live‑work property with residence, art studio, and attached workshop; Workshop includes 200‑amp electrical service, epoxy‑coated floors, and custom built‑in shelving; Sliding workshop door has a concrete access ramp and removable wall panel
