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    7158 Luella Rd Sherman, TX 75090

    Sponsored
    For Lease
    $3,500 /Mo ($17 SF/Yr)

    Farm/Ranch - Sherman, TX

    Type:Farm
    Property size:
    2,424 SF
    Lot size:
    19.87 Acres
    Days on Market:
    8
    Last Refresh:
    Mar 2 at 12:06 am

    Property Features for 7158 Luella Rd

    General Information

    Property type
    Residential Lease
    Property subtype
    Farm
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    3
    APN
    129226
    Parking features
    Carport
    Patio and Porch features
    Deck
    Interior features
    Decorative Lighting, High Speed Internet Available
    Exterior features
    Covered Deck, Fire Pit, Rain Gutters, Stable/Barn, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Cooktop, Cooktop - Electric, Dishwasher, Garbage Disposer, Washer
    Size
    2,424 SF
    Lot size
    19.87 Acres

    Taxes and HOA fees

    Expense value
    500
    Expense
    Pet Deposit
    Expense freq.
    Once

    Utilities

    Heating system
    Central, Electric (Heating), Fireplace(s)
    Cooling system
    Ceiling Fan(s), Central Air, Electric

    Building Details

    Year built
    2008
    Floors in Building
    1
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch
    Additional Structures
    Barn(s), Stable(s)

    We can help!

    Listing Contact
    Krishna Madhireddy

    Krishna Madhireddy, Broker (708) 288-2337

    Listing agent Krishna Madhireddy (708) 288-2337 License #0698555

    Listing date Feb 23, 2026

    MLS# 21171063 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

    Sherman Ranch Home with Equestrian Facility

    This property features a ranch home with cattle and horse facilities situated on approximately 20 acres. Located close to Highway 75, it offers convenient access to Texas Instruments and downtown Sherman, both less than 15 minutes away. The 2,424 square-foot home includes 4 bedrooms and 2.5 bathrooms in an open concept layout. Interior details include hickory and pecan cabinets with cedar trim, complemented by a 100-year-old tin accent on the living room tray ceiling and island. The home also features a formal dining area. The property provides sunset views. Outdoor amenities include a pool and a large deck, along with a firepit and seating area. A 60x64 horse barn is located near the house, equipped for show cattle or horses. The barn can be configured into 6 small pins or 3 large ones and includes electric and water hookups, a wash rack, a feed arena, and a private arena. The property is located in Sherman, Texas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Suggested Use

    Auto Parts Store HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.545708
    Latitude
    33.52091

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    FAQs

    What type of property is this?
    Ranch - Ranch home with cattle and horse facility on almost 20 acres.
    Where is this ranch located?
    The property is located at 7158 Luella Rd Sherman, TX.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: - Ranch home with cattle and horse facility on almost 20 acres.; - 60x64 horse barn with electric, water, wash rack, feed arena, and arena.; - Open concept 4 bedrooms and 2.5 bath with unique interior details (hickory and pecan cabinets with cedar trim, 100 year old tin ceiling).
    (708) 288-2337
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    7158 Luella Rd 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
    7158 Luella Rd Sherman, TX 75090
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    We can help!
    Listing Contact
    Krishna Madhireddy
    Real Estate License ID: 0698555
    (708) 288-2337
    Learn more
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