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    1700 Gallagher Dr Sherman, TX 75090

    Sponsored
    For Lease
    $20 SF/Yr

    Office - Sherman, TX

    Type:Office
    Lot size:
    0.52 Acres
    Days on Market:
    15
    Last Refresh:
    Jan 20 at 1:06 pm

    Property Features for 1700 Gallagher Dr

    General Information

    Property type
    Other
    Property subtype
    Office
    Standard status
    Active
    APN
    262112
    Parking features
    Covered, Driveway, Parking Lot
    Lot size
    0.52 Acres

    Utilities

    Heating system
    Central, Natural Gas
    Cooling system
    Ceiling Fan(s), Central Air, Electric, ENERGY STAR Qualified Equipment

    Building Details

    Year built
    2006
    Flooring type
    Concrete
    Building materials
    Stone
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Grant Gilbert

    CENTURY 21 Dean Gilbert, Realtors (903) 893-5188 [email protected]

    Listing agent Grant Gilbert (903) 893-5188 License #0798907

    Listing date Jan 6, 2026

    MLS# 21145590 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Medical Office in Sherman, TX

    This purpose-built medical office in Sherman, TX, offers turnkey functionality suitable for investors or owner-occupants. The property is centrally located between US Highway 75 and Texoma Parkway, providing traffic exposure and ease of access for patients and staff. The first floor is equipped with 6 exam rooms, 3 private offices, an X-Ray room with leaded walls and appropriate power, a dedicated nurses’ station, a comfortable lobby and waiting area, and separate check-in and check-out stations. The second floor provides ample storage space for supplies or files, along with a spacious break room area. The building also features a drive-through awning, spray foam insulation, tankless hot water, and efficient natural gas systems. The property is situated on a 0.52-acre lot. This property is ideal for medical, dental, or wellness practices.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Millmann Paul R ... Family Practice Physician Lauren Kirby General Practitioner Lauren E Medford Nurse Practitioner

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.5969
    Latitude
    33.672372

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    FAQs

    What type of property is this?
    Medical office - Turnkey medical office space in a growing Sherman corridor.
    Where is this medical office located?
    The property is located at 1700 Gallagher Dr Sherman, TX.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Purpose-built medical office offering turnkey functionality for medical, dental, or wellness practices.; - Centrally located in Sherman, TX, with high traffic exposure and easy access between US Highway 75 and Texoma Parkway.; - First floor features **6 exam rooms**, **3 private offices**, X-Ray room with leaded walls and appropriate power, and a dedicated nurses’ station.
    (903) 893-5188
    Request Owner's contact information
    1700 Gallagher Dr Sherman, TX 75090
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    Sherman, TX 75090
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1700 Gallagher Dr Sherman, TX 75090
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    We can help!
    Listing Contact
    Grant Gilbert
    Real Estate License ID: 0798907
    (903) 893-5188
    Learn more
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