Medical Office Building with Two
3415 N Loy Lake Road Sherman, TX 75090
For Sale
$850,000
SINGLE_FAMILY - Sherman, TX
Property Size3,400 SF
Lot Size0.47 Acres
Price / SF$250
Days on Market50
Property Features for 3415 N Loy Lake Road
General Information
Property type
Residential
Property subtype
Office
Parking features
Parking Lot
Security features
Security
Standard status
Active
APN
154695
Lot size
0.47 Acres
Taxes and HOA fees
Tax Description
G-0763 MCANAIR J B, ACRES .47
Tax Annual Amount
12721
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
2
Flooring type
Carpet, Linoleum, Tile
Building materials
Brick
Roof type
Concrete, Tile
Listing Agency:
Bertholf Commercial Real Estate
(903) 267-1573
Listed By:
Terrin Bertholf · License #0649544
(903) 267-1573
Added: Jun 11
Changed: Jul 27
Last Checked: Jul 30 at 4:06AM
MLS# 21175449
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.
Built in 1984, this 3,400 SF medical office building is currently configured for a single medical practice while offering separate utilities for two suites. The interior includes 10 exam rooms, multiple plumbed closets, several common areas, and ample storage, supported by a four-zone HVAC system with an external mechanical room for convenient servicing. Most of the west suite walls are non-weight bearing for flexible reconfiguration, and the east side features a clear-span attic designed to accommodate a potential second floor.
Located in Sherman’s growing medical corridor, the property is positioned for convenient access to surrounding healthcare providers and major roadways. The parking lot was repaved in 2024 and provides 23 efficiently laid-out spaces. Additional land to the east was originally planned for expansion, offering room to consider future site development.
The layout and utility separation make this a strong option for an owner-occupied medical practice or specialty clinic, with the flexibility to adjust suite configurations over time. For investors, the two-suite setup can support a multi-tenant office approach, while the available expansion potential and reconfiguration-friendly construction help align the property with changing clinic and office needs.
Located in Sherman’s growing medical corridor, the property is positioned for convenient access to surrounding healthcare providers and major roadways. The parking lot was repaved in 2024 and provides 23 efficiently laid-out spaces. Additional land to the east was originally planned for expansion, offering room to consider future site development.
The layout and utility separation make this a strong option for an owner-occupied medical practice or specialty clinic, with the flexibility to adjust suite configurations over time. For investors, the two-suite setup can support a multi-tenant office approach, while the available expansion potential and reconfiguration-friendly construction help align the property with changing clinic and office needs.
Key Highlights
- 3,400 SF office building built in 1984 in Sherman’s medical corridor
- Set up for two separately metered suites for flexible medical or office use
- Includes 10 exam rooms, multiple plumbed closets, common areas, and ample storage
Financial Insights For Office B
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 | $104.4k | $30.72 |
| − Vacancy | −$28.6k | −$8.42 |
| EGI | $75.8k | $22.30 |
| − OpEx | −$19.0k | −$5.58 |
| NOI | $56.9k | $16.73 |
3,400 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
Alternative Uses
Best Use
Office B
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 6.69%
Second Best
Healthcare Medical
$738.6K
$646.3K – $861.7K
NOI $51,702 @ 7.0% cap · market cap 6.08%
Theoretical Best
Hotel Hospitality
$1.74M
$1.53M – $2.03M
NOI $122,094 @ 7.0% cap · market cap 14.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Petco Vaccination Clinic — 4184 Town Center Dr, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two separately metered suites with exam rooms, multi-zone HVAC, and repaved parking support flexible medical or office use.
Where is this medical office space located?
The property is located at 3415 N Loy Lake Road Sherman, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,400 SF office building built in 1984 in Sherman’s medical corridor; Set up for two separately metered suites for flexible medical or office use; Includes 10 exam rooms, multiple plumbed closets, common areas, and ample storage
