Historic Office
For Sale
$1,100,000
111 S Travis Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size5,898 SF
Lot Size0.06 Acres
Price / SF$186.50
Days on Market8
Property Features for 111 S Travis Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Otp Sherman
Lot features
Interior Lot, Historic District
Directions
See GPS
Standard status
Active
APN
163632
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
OTP SHERMAN, BLOCK 5, LOT PT S HALF 3, ACRES .0769
Tax Annual Amount
2544
Legal Description
OTP SHERMAN, BLOCK 5, LOT PT S HALF 3, ACRES .0769
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
conference room
Building Details
Year built
1920
Floors in Building
2
Number of units
1
Flooring type
Laminate, Carpet
Building materials
Brick, Block, Concrete
Roof type
Shingle
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Added: Sep 20
Changed: Sep 25
Last Checked: Sep 27 at 4:06PM
MLS# 21391586
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.
Investment Insights
Based on property information with market context.
Constructed in 1920, this office property has 16 private offices and a large conference room on the second floor. The building’s brick, block, and concrete construction is complemented by laminate and carpet flooring, central heating and air conditioning, and a shingle roof. A parking lot provides 20 private spaces.
The property is on North Travis Street in downtown Sherman, near the Downtown Square, and is within the Sherman Opportunity Zone. The City of Sherman may provide incentives for redevelopment projects that meet its qualifications. The existing office configuration and conference space are among the building’s defined features.
The property is on North Travis Street in downtown Sherman, near the Downtown Square, and is within the Sherman Opportunity Zone. The City of Sherman may provide incentives for redevelopment projects that meet its qualifications. The existing office configuration and conference space are among the building’s defined features.
Key Highlights
- 16 private offices
- Second‑floor conference room overlooking the Downtown Square
- 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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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 downtown Sherman.
Where is this office building located?
The property is located at 111 S Travis Street 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: 16 private offices; Second‑floor conference room overlooking the Downtown Square; 20 private parking spaces
