Renovated Live-Work Home with Triple
For Sale
$235,000
9124 FREE Avenue, Jacksonville, FL 32211
SINGLE_FAMILY - Jacksonville, FL
Property Size1,030 SF
Lot Size0.21 Acres
Price / SF$228.16
Days on Market102
Property Features for 9124 FREE Avenue
General Information
Property type
Residential
Property subtype
Office
Zoning description
Commercial/Residential/Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking features
Guest, RV
Fencing
Chain Link, Privacy
Subdivision
Oakwood Villa Ests
Lot features
Cleared
Directions
Take 115 South, take exit on Atlantic Blvd. Turn right onto Mill Creek Rd and left on Free Ave. Property is on left #9124
Standard status
Active
APN
1438600000
Size
1,030 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2712
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1946
Floors in Building
1
Number of units
1
Flooring type
Laminate, Tile
Building materials
Block, Fiber Cement, Wood Siding
Roof type
Shingle, Rolled Hot Mop, Mixed
Listing Agency:
KELLER WILLIAMS FIRST COAST REALTY · Keller Williams Realty
(904) 541-0180
Listed By:
CHRISTOPHER RUBINAN · License #3465021
(631) 671-9910
Added: May 14
Changed: Aug 4
Last Checked: Aug 23 at 7:06AM
MLS# 2146065
Copyright © 2026 realMLS. 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.
Renovated property set on an oversized triple lot with Commercial Office (CO) zoning, offering flexible options for a live-work setup or other multi-use plans. The home’s interior is currently configured as two separate living spaces: a 2/1 unit and a 1/1 unit, with an updated kitchen featuring granite countertops. The layout can also be converted back to a traditional 3/2 configuration if desired.
Reported improvements include an updated roof, HVAC, water heater, windows, and re-plumbing. The additional lot area is designed to support practical needs such as outdoor entertaining and added parking.
Move-in ready and built for adaptability, the property provides an updated living setup while keeping future expansion or development possibilities in mind under the existing CO zoning.
Reported improvements include an updated roof, HVAC, water heater, windows, and re-plumbing. The additional lot area is designed to support practical needs such as outdoor entertaining and added parking.
Move-in ready and built for adaptability, the property provides an updated living setup while keeping future expansion or development possibilities in mind under the existing CO zoning.
Key Highlights
- Oversized triple lot with Commercial Office (CO) zoning for multi‑use potential, including future expansion and development opportunities
- Move‑in ready home with updated kitchen featuring granite countertops and included appliances
- Functional layout currently configured as two separate living spaces: 2/1 and 1/1 (easy conversion back to a traditional 3/2 layout)
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
$7,620
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
3.24%
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%
$152,400
$152.4K
Cap Rate 7%
$108,857
$108.9K
Cap Rate 9%
$84,667
$84.7K
Market Conditions
NOI Build-Up for 1,030 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
$15.3K $14.88/SF
− Vacancy
−$1.5K −$1.43/SF
EGI
$13.9K $13.45/SF
− OpEx
−$6.2K −$6.05/SF
NOI
$7.6K $7.40/SF
Area
Jacksonville, FL
Vacancy
9.60%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$152,400
Cap Rate 7%
$108,857
Cap Rate 9%
$84,667
Alternative Uses
Best Use
Apartment 5plus
$108.9K
$95.3K – $127.0K
NOI $7,620 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$282.2K
$246.9K – $329.2K
NOI $19,751 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 32211, FL
34,168
Population
15,250
Households
2.2
Avg Household Size
36
Median Age
20%
College-Educated
89%
High-School Grad
8.2 sq mi
ZIP Area
4,167
Density / Sq Mi
$55,208
Median Household Income
$33,993
Median Earnings
$1,104
Median Rent
$208,900
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Renovated home on an oversized triple lot with Commercial Office (CO) zoning and two separate living spaces.
Where is this single family property located?
The property is located at 9124 FREE Avenue Jacksonville, FL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Oversized triple lot with Commercial Office (CO) zoning for multi‑use potential, including future expansion and development opportunities; Move‑in ready home with updated kitchen featuring granite countertops and included appliances; Functional layout currently configured as two separate living spaces: 2/1 and 1/1 (easy conversion back to a traditional 3/2 layout)
