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

    515 W Jones Street Sherman, TX 75090

    View on Map
    For Sale
    $500,000

    Unimproved Land - Sherman, TX

    Type:Unimproved Land
    Lot size:
    0.65 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    26
    Last Refresh:
    Mar 31 at 8:06 pm

    Property Features for 515 W Jones Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    163457
    Lot size
    0.65 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Shahid Mehmood

    Listing agent Shahid Mehmood License #0511867

    Listing office GO Real Estate 2701 W Plano Pkwy, Frisco, TX

    Listing date Mar 5, 2026

    MLS# 21182514 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

    Prime Commercial Land in Sherman, TX

    This property features approximately 0.65 acres (approximately 28,121 square feet) of commercial land at the intersection of W. Jones Street and the Sam Rayburn (US 75) Frontage in Sherman, TX. The fully cleared corner lot offers high-speed highway visibility and localized downtown accessibility. The site is optimized for efficient parking layouts and modern building footprints. It is positioned for potential uses such as medical clinics, fast-casual dining, or professional services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.61489
    Latitude
    33.63364

    Nearby Similar for Sale

    • $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
    • $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
    • $375,000

      Sherman, TX - Veterinary Office

      Veterinary office in downtown Sherman with multiple rooms and outdoor storage.
      825 N Crockett Street, 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
    • $1,350,000

      Medical Office Building For Sale

      5,250 SF medical office building in high-visibility Sherman location.
      815 Pecan Grove Road E, Sherman, TX 75090
      View Details
    • $1,300,000

      Sherman Medical Office Building

      Turnkey medical office in a high-growth Sherman corridor.
      1700 Gallagher Drive, Sherman, TX 75090
      View Details
    • $500,000

      Sherman, TX: 12 Acre Land

      12 acre commercial tract suited for industrial development.
      0000 N FM 1417, Sherman, TX 75092
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-visibility commercial land near downtown Sherman, ideal for development.
    Where is this commercial land located?
    The property is located at 515 W Jones Street Sherman, TX.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Prime commercial land at the intersection of W. Jones Street and Sam Rayburn (US 75) Frontage.; High‑visibility location at the gateway to Downtown Sherman.; Cleared, flat lot optimized for efficient parking and modern building footprints.
    (214) 491-8068
    We can help!
    Listing Contact
    Shahid Mehmood
    Real Estate License ID: 0511867
    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!