Brick Storefront Retail
For Sale
$149,000
115 Wall Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size675 SF
Lot Size0.05 Acres
Price / SF$220.74
Days on Market57
Property Features for 115 Wall Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Central Business
Parking features
Open, On Street
Subdivision
Shannon T J Suppl
Directions
From Downtown Sherman, from Travis go east on Wall Street
Standard status
Active
APN
272603
Size
675 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
SHANNON T J SUPPLEMENT, BLOCK D, LOT PT 7, 15
Tax Annual Amount
2616
Legal Description
SHANNON T J SUPPLEMENT, BLOCK D, LOT PT 7, 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1953
Floors in Building
1
Number of units
1
Flooring type
Laminate, Tile
Building materials
Brick
Listing Agency:
Tracy Realty
(903) 786-3115
Listed By:
Tommi Sue Homuth · License #0623240
(469) 879-2265
Added: Jul 11
Changed: Aug 31
Last Checked: Sep 5 at 3:06AM
MLS# 21267580
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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 675-square-foot storefront retail unit is housed in a brick building constructed in 1953. The space is currently leased to a Boba Tea shop and features laminate and tile flooring, central electric heating, and central air conditioning. Public water and public sewer serve the property.
The property is located on Wall Street in Sherman, with the downtown Square described as being just steps away. Open and on-street parking are available. The parcel encompasses 0.051 acres, providing a compact retail footprint in an established commercial setting.
The property is located on Wall Street in Sherman, with the downtown Square described as being just steps away. Open and on-street parking are available. The parcel encompasses 0.051 acres, providing a compact retail footprint in an established commercial setting.
Key Highlights
- 675 SF storefront retail unit
- Currently leased to a Boba Tea shop
- Brick construction; built in 1953
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
$11,204
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
7.52%
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%
$224,080
$224.1K
Cap Rate 7%
$160,057
$160.1K
Cap Rate 9%
$124,489
$124.5K
Market Conditions
NOI Build-Up for 675 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
$16.8K $24.96/SF
− Vacancy
−$842 −$1.25/SF
EGI
$16.0K $23.71/SF
− OpEx
−$4.8K −$7.11/SF
NOI
$11.2K $16.60/SF
Area
Grayson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
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%
$224,080
Cap Rate 7%
$160,057
Cap Rate 9%
$124,489
Alternative Uses
Best Use
Retail
$160.1K
$140.1K – $186.7K
NOI $11,204 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$346.3K
$303.0K – $404.0K
NOI $24,239 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Leased retail space with central HVAC, public utilities, and access to open and on-street parking.
Where is this storefront property located?
The property is located at 115 Wall Street Sherman, TX.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: 675 SF storefront retail unit; Currently leased to a Boba Tea shop; Brick construction; built in 1953
