Historic Office
For Sale
$1,100,000
111 S Travis St, Sherman, TX 75090
A 16-office layout includes a second-floor conference room and dedicated parking in Sherman’s downtown core.
Property Size5,898 SF
Price / SF$186.50
Days on Market8
Property Features for 111 S Travis St
General Information
Standard status
Active
Size
5,898 SF
Total Parking Spaces
20
Property subtype
Commercial
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1920
Buildings
1
Building Size
5,898 SF
Listing Agency:
CAPROCK Real Estate Advisors LLC
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Northtexashomeguide
Added: Sep 20
Changed: Sep 26
Last Checked: Sep 26 at 2:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CAPROCK Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
Built in 1920, this office property contains 5,898 square feet arranged across 16 private offices. An oversized conference room occupies the second floor, and the building includes 20 private parking spaces. Its historic architecture adds character to the existing office configuration.
The property is at 111 S Travis St on Sherman’s Downtown Square, within the Sherman Opportunity Zone. The City of Sherman supports downtown revitalization and may offer incentives for qualifying redevelopment projects. The building’s layout also supports consideration of professional office use or adaptive reuse.
The property is at 111 S Travis St on Sherman’s Downtown Square, within the Sherman Opportunity Zone. The City of Sherman supports downtown revitalization and may offer incentives for qualifying redevelopment projects. The building’s layout also supports consideration of professional office use or adaptive reuse.
Key Highlights
- 5,898‑square‑foot office building constructed in 1920
- 16 private offices and an oversized second‑floor conference room
- 20 private parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$98,656
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,973,120
$2.0M
Cap Rate 7%
$1,409,371
$1.4M
Cap Rate 9%
$1,096,178
$1.1M
Market Conditions
NOI Build-Up for 5,898 SF
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.
Gross rent
$181.2K $30.72/SF
− Vacancy
−$49.6K −$8.42/SF
EGI
$131.5K $22.30/SF
− OpEx
−$32.9K −$5.58/SF
NOI
$98.7K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,973,120
Cap Rate 7%
$1,409,371
Cap Rate 9%
$1,096,178
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,656 @ 7.0% cap · market cap 8.97%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.03M
$2.65M – $3.53M
NOI $211,797 @ 7.0% cap · market cap 19.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,235
Businesses Nearby
Explore this area
Business Placement
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A 16-office layout includes a second-floor conference room and dedicated parking in Sherman’s downtown core.
Where is this office building located?
The property is located at 111 S Travis St Sherman, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,898‑square‑foot office building constructed in 1920; 16 private offices and an oversized second‑floor conference room; 20 private parking spaces
