Sherman, Texas Commercial
For Sale
$945,000
117 Houston St, Sherman, TX 75090
Other commercial real estate
Property Size5,000 SF
Lot Size0.32 Acres
Price / SF$189
Days on Market185
Property Features for 117 Houston St
General Information
Standard status
Active
Property type
Other commercial real estate, Other retail properties
Size
5,000 SF
Lot size
0.32 Acres
Building Details
Year Built
1895
Stories
1
Units
1
Added: May 2
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property in Sherman, Texas, presents an opportunity for investors or business owners. Zoned C-2 Commercial, the property allows for a range of retail and wholesale uses, in addition to all permitted C-1 uses. The one-level building offers 5,000 square feet of space with a large, open configuration. Interior walls could be erected to customize the space. A non-structural framed sheetrock wall currently separates approximately 40% of the square footage in the back. The perimeter walls are original brick with plaster overlay, with exposed brick in some areas for aesthetic purposes. The property includes two functional bathrooms in the front and two plumbed bathrooms without fixtures in the back. The building and property have been well maintained. A ramp and loading dock with an 8-foot rollup door provide delivery access. The sale includes an adjacent parking lot with over 5,000 square feet. The lot size is 0.3225 acres.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,992
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,840
$1.7M
Cap Rate 7%
$1,185,600
$1.2M
Cap Rate 9%
$922,133
$922.1K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$124.8K $24.96/SF
− Vacancy
−$6.2K −$1.25/SF
EGI
$118.6K $23.71/SF
− OpEx
−$35.6K −$7.11/SF
NOI
$83.0K $16.60/SF
Area
Grayson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,659,840
Cap Rate 7%
$1,185,600
Cap Rate 9%
$922,133
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.38M
NOI $82,992 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.56M
$2.24M – $2.99M
NOI $179,550 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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 Retail in South region
Frequently Asked Questions
Where is this commercial real estate located?
The property is located at 117 Houston St Sherman, TX.
What is the asking price?
The asking price for this property is $945,000.
