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    Church and Community Facility Title is generated by Realmo AI

    100 S Colbert Street, Sherman, TX 75090

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    For Sale
    $244,000

    COMMERCIAL - Sherman, TX

    Lot size:
    1.15 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    52
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 100 S Colbert Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    161043
    Lot size
    1.15 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1952
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Carpet, Tile, Laminate
    Building materials
    Brick
    Roof type
    Composition

    We can help!

    Listing Contact
    Terresa Ashley

    Listing agent Terresa Ashley

    Listing office Williams Realty and Auction LLC TX

    Listing date Apr 13, 2026

    MLS# 21054223

    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.

    HighLights

    • Church property built in 1952 with brick construction and a composition roof
    • Central air cooling with electric heating
    • Welcoming sanctuary with ample seating, plus fellowship hall, kitchen, classroom space, and office space
    • Onsite parking available and a large grassy area for outdoor activities
    • Accessible approach with ramp
    • Utilities include public water and public sewer; all furnishings convey with purchase

    Overview

    This well maintained church property is built for multiple uses, with a welcoming sanctuary designed for ample seating. In addition to the sanctuary, the building includes a fellowship hall, kitchen, classroom space, and office space, supporting both regular services and day-to-day programming. A large grassy area adds an outdoor option for events and activities, and the listing notes that all furnishings will convey with purchase.

    Located in Sherman, Texas, the property offers convenient access with its position between Hwy 75 and Hwy 82. The site includes plenty of onsite parking to accommodate congregants and event attendees, giving operators flexibility for worship services and community gatherings.

    For congregations, the combination of sanctuary seating, classroom space, and fellowship areas supports a full calendar of worship and education. For community groups or investors, the versatile interior layout and outdoor space make it suitable for hosting events, outreach ministries, and other structured programs. With furnishings included, the building is positioned for an efficient transition to an operator’s planned use.
    Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Map

    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.585038
    Latitude
    33.641195

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    FAQs

    What type of property is this?
    Church & religious facility - Well maintained church building with sanctuary, fellowship hall, classrooms, kitchen, office space, and ample parking.
    Where is this church & religious facility located?
    The property is located at 100 S Colbert Street Sherman, TX.
    What is the asking price?
    The asking price for this property is $244,000.
    What are key features of this property?
    This property features: Church property built in 1952 with brick construction and a composition roof; Central air cooling with electric heating; Welcoming sanctuary with ample seating, plus fellowship hall, kitchen, classroom space, and office space
    (940) 781-7484
    We can help!
    Listing Contact
    Terresa Ashley
    Learn More
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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.

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