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    Move-in Ready Howe Office Space Title is generated by Realmo AI

    102 S Collins, Howe, TX 75459

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    For Lease
    $2,700 /Mo

    COMMERCIAL - Howe, TX

    Lot size:
    0.25 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    96
    Last Refresh:
    Jun 2 at 8:06 pm

    Property Features for 102 S Collins

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Open, Garage
    Standard status
    Active
    APN
    152869
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Description
    WESTERN HILLS COMMERCIAL, BLOCK 2, LOT 2

    Utilities

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

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Tile, Laminate, Concrete
    Building materials
    Brick

    We can help!

    Listing Contact
    Tommi Sue Homuth
    Tommi Sue Homuth

    Listing agent Tommi Sue Homuth License #0623240

    Listing office Tracy Realty Denison, TX

    Listing date Feb 26, 2026

    MLS# 21142361

    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

    • Move‑in ready office space with excellent visibility, located just 10 minutes south of Sherman.
    • Versatile space suitable for various uses: office, spa, childcare center, private school, training center, or professional workspace.
    • Recently remodeled with five restrooms, seven sinks, and ten rooms.
    • Includes ample parking and a side lot, previously used as a playground.
    • Features plenty of storage and a washer/dryer area.
    • Durable brick construction with concrete, laminate, and tile flooring.

    Overview

    Located in Howe, just 10 minutes south of Sherman at the Haning Street Exit, this move-in ready office space offers excellent visibility. The property was recently remodeled for use as a childcare center. It features five restrooms, seven sinks, and ten rooms, along with ample storage and a washer and dryer area. The space is suitable for use as an office, spa, childcare center, private school, training center, or professional workspace. Previously, the property was used as a salon and spa with offices. It includes plenty of parking and a side lot that was formerly a playground. The tenant is responsible for property taxes, which amount to $8182 annually, or an additional $681.83 per month. The lot size is 0.25 acres.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Howe
    County
    Grayson
    State
    Texas
    Longitude
    -96.619144
    Latitude
    33.50622

    FAQs

    What type of property is this?
    Storefront property - Remodeled office space suitable for various business types.
    Where is this storefront property located?
    The property is located at 102 S Collins Howe, TX.
    What is the lease rate?
    The lease rate is $2,700 /Mo.
    What are key features of this property?
    This property features: Move‑in ready office space with excellent visibility, located just 10 minutes south of Sherman.; Versatile space suitable for various uses: office, spa, childcare center, private school, training center, or professional workspace.; Recently remodeled with five restrooms, seven sinks, and ten rooms.
    (903) 786-3115
    We can help!
    Listing Contact
    Tommi Sue Homuth
    Tommi Sue Homuth
    Real Estate License ID: 0623240
    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.

    More about this property
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