Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2411 Swamy Drive Sherman, TX 75090

    View on Map
    Claim this Listing
    For Sale
    $2,322,012

    Unimproved Land - Sherman, TX

    Type:Unimproved Land
    Lot size:
    2.42 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 20 at 7:06 am

    Property Features for 2411 Swamy Drive

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    402997
    Lot size
    2.42 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jessica Dansby

    Listing agent Jessica Dansby License #0680157

    Listing office SRC Local Markets, LLC 100 Crescent Ct 7th Fl, Frisco, TX

    Listing date Mar 5, 2026

    MLS# 21199411 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.

    Overview

    Sherman TX Land For Sale

    This 2.423-acre property is located in Sherman, TX, less than a quarter of a mile from I-75, at the corner of FM 691 and Swamy Drive. Situated between I-75 and Texoma Parkway, the site is suitable for mixed-use, retail, or commercial development. It is south of the Texoma Medical Center and less than 12 miles from Texas Instruments and GlobiTech. This location presents a development or future investment opportunity and is ideal for a 90-room hotel, a 20,000 square foot medical plaza, or a senior living center. The property can be divided into two 1.2-acre pad sites and is also available for land lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Discount Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.586393
    Latitude
    33.706683

    Nearby Similar for Sale

    • $619,000

      Sherman, TX Commercial Buildings

      Two commercial buildings in high-growth Sherman, TX corridor.
      520 S Sam Rayburn Freeway, Sherman, TX 75090
      View Details
    • $449,900

      Prime Commercial Property on Texoma Parkway

      Commercial property ideal for various business ventures in booming Sherman.
      4020 Texoma Parkway, Sherman, TX 75090
      View Details
    • $850,000

      Sherman Office Building in Medical Corridor

      3,400 SF office building in Sherman's growing medical corridor.
      3415 N Loy Lake Road, Sherman, TX 75090
      View Details
    • $300,000

      Sherman Commercial Property For Sale

      Commercial property in downtown Sherman, Texas, suitable for various businesses.
      825 N Crockett Street, Sherman, TX 75090
      View Details
    • $950,000

      Sherman, TX Commercial Redevelopment Opportunity

      1.15-acre commercial property primed for redevelopment in Sherman, TX.
      2424 Texoma Parkway, Sherman, TX 75090
      View Details
    • $999,000

      Sherman, TX Industrial Opportunity

      11.966 acres with commercial building and highway frontage.
      28400 W US Highway 82, Sherman, TX 75092
      View Details
    • $2,500,000

      Historic Sherman Building Awaits Vision

      Iconic 1870 building in Sherman's downtown, ready for remodel.
      115 S Travis Street, Sherman, TX 75090
      View Details
    • $595,000

      Sherman, TX Commercial Land Tract

      5.75-acre commercial tract with highway frontage in Sherman, Texas.
      0000 HWY 56, Sherman, TX 75092
      View Details
    • $500,000

      Prime Retail-Zoned Commercial Lot

      0.65-acre commercial lot in Sherman, TX with utilities available.
      323 S Sam Rayburn Freeway, Sherman, TX 75090
      View Details
    • $675,000

      Renovated Medical Office Near Hospital

      Newly renovated medical office building near Wilson N. Jones hospital.
      300 N Bryant Avenue, Sherman, TX 75090
      View Details
    • $924,000
      44,039 SF

      Sherman, TX Retail Pad Sites

      Commercial pad sites available on Highway 82 and Texoma Parkway.
      2801 Texoma Parkway, Sherman, TX 75090
      View Details
    • $500,000

      Prime Commercial Land in Sherman, TX

      High-visibility commercial land near downtown Sherman, ideal for development.
      515 W Jones Street, Sherman, TX 75090
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.423 acre land perfect for mixed-use or commercial development.
    Where is this commercial land located?
    The property is located at 2411 Swamy Drive Sherman, TX.
    What is the asking price?
    The asking price for this property is $2,322,012.
    What are key features of this property?
    This property features: Less than a quarter mile from I‑75.; Located at the corner of FM 691 and Swamy Drive.; Suitable for Mixed Use, Retail, or Commercial development.
    (214) 578-5747
    We can help!
    Listing Contact
    Jessica Dansby
    Real Estate License ID: 0680157
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!