Industrial Warehouse with Dock-High
304 Progress Drive Sherman, TX 75092
304 Progress Drive, Sherman, TX, 75092
$1,985,000
For Sale
$1,985,000
COMMERCIAL - Sherman, TX
Property Size13,000 SF
Lot Size2.50 Acres
Price / SF$152.69
Days on Market32
Property Features for 304 Progress Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 125314
- Lot size
- 2.50 Acres
Taxes and HOA fees
- Tax Description
- G-0765 MARTIN WILLIAM A-G0765, ACRES 1.0
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1996
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Concrete, Tile, Hardwood, Laminate
- Building materials
- Stucco
- Roof type
- Metal
Listing Agency
Bluestone Partners, LLC
(903) 813-1415
Sherman, TX
Listed by
Barry Boothe · License #0604645
(903) 813-1415
Added: Jun 18 Checked: Jul 19 at 7:06 pm
MLS# 21303976
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 13,000 SF industrial building is designed for flexible owner-occupant use or investment. The property includes 3,000 SF of office space and clear-span construction for manufacturing, storage, or logistics operations. Improvements feature a dock-high loading door, generous ceiling heights, and ample power distribution to support warehouse and operational needs.
Located at 304 Progress Drive in Sherman, Texas, the property is positioned along US Highway 75. The offering notes proximity to major employers including Texas Instruments, GlobiTech, and Coherent, along with other supporting industries in the Sherman area. The site sits on approximately 2.5 acres in Grayson County.
Located at 304 Progress Drive in Sherman, Texas, the property is positioned along US Highway 75. The offering notes proximity to major employers including Texas Instruments, GlobiTech, and Coherent, along with other supporting industries in the Sherman area. The site sits on approximately 2.5 acres in Grayson County.
Key Highlights
- 13,000 SF industrial building in Sherman, TX (Year built 1996) with flexible space for owner occupancy or investment
- 3,000 SF office space inside the building
- Clear span industrial construction with generous ceiling heights for manufacturing, storage, or logistics use
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.1k | $8.16 |
| − Vacancy | −$9.3k | −$0.72 |
| EGI | $96.7k | $7.44 |
| − OpEx | −$14.5k | −$1.12 |
| NOI | $82.2k | $6.33 |
13,000 SF · lease $8.16/SF/yr · vacancy 8.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,233 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$967.4K
$846.5K – $1.13M
NOI $67,721 @ 7.0% cap · market cap 3.41%
Theoretical Best
Hotel Hospitality
$6.67M
$5.84M – $7.78M
NOI $466,830 @ 7.0% cap · market cap 23.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - 13,000 SF industrial building includes 3,000 SF office, clear-span space, and a dock-high loading door on 2.5 acres.
Where is this flex space located?
The property is located at 304 Progress Drive Sherman, TX.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: 13,000 SF industrial building in Sherman, TX (Year built 1996) with flexible space for owner occupancy or investment; 3,000 SF office space inside the building; Clear span industrial construction with generous ceiling heights for manufacturing, storage, or logistics use
