Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1915 N Heritage Pkwy Sherman, TX

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space with easy highway access; divisible to 1,600 SF.

    Property size:
    6,400 SF
    Lot size:
    0.95 Acres

    Property Features for 1915 N Heritage Pkwy

    General Information

    Size
    6,400 SF
    Lot size
    0.95 Acres

    We can help!

    Listing Contact
    Bill Wastoskie
    Bill Wastoskie
    Source: Moodyscre

    Listing Agent: Bill Wastoskie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Space Near Highway 82

    This retail space is located at the northeast corner of Heritage Parkway and Skyline, offering convenient access to Highway 82. The property features approximately 8,000 square feet of space. The landlord is willing to divide the space, with a minimum divisibility of 1,600 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Building Supply Discount Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.545124
    Latitude
    33.590811

    Nearby Similar for Lease

    • $12 SF/Yr
      48,177 SF

      Renovated Industrial and Flex Property

      Versatile Sherman, Texas property with office, showroom, and warehouse space.
      2010-2022a S Crockett St, Sherman, TX 75090
      View Details
    • $7,500 /Mo
      3,354 SF

      Downtown Sherman Two-Story Office Building

      Versatile office building in downtown Sherman with flexible leasing options.
      111 S Travis St, Sherman, TX 75090
      View Details
    • $17,150 /Mo
      7,350 SF

      Medical Office Space Near Texoma

      Prime medical office space available for lease near Texoma Medical Center.
      2416 Swamy Dr, Sherman, TX 75090
      View Details
    • $2,250 /Mo
      1,500 SF

      Modern Garages Near Major Highways

      Modern, purpose-built garages with included utilities and on-site security.
      2410 N Frisco Rd, Sherman, TX 75090
      View Details
    • $5,000 /Mo
      75,794 SF

      Sherman Industrial Space For Lease

      Versatile commercial space with high visibility and flexible layout.
      20110 Highway 56 W, Sherman, TX 75092
      View Details
    • $2,000 /Mo
      3,746 SF

      Sherman Office Space Near Courthouse

      Professional office space near Grayson County and Federal Courthouses.
      120 S Crockett St, Sherman, TX 75090
      View Details
    • $20 SF/Yr
      22,651 SF

      Medical Office in Sherman, TX

      Turnkey medical office space in a growing Sherman corridor.
      1700 Gallagher Dr, Sherman, TX 75090
      View Details
    • $3,500 /Mo
      24,568 SF

      Sherman Office Space For Rent

      Professional office space with convenient highway access in Sherman, TX.
      506 E Taylor St, Sherman, TX 75090
      View Details
    • $2,000 /Mo
      3,746 SF

      Downtown Sherman Retail/Office Space

      Office or retail space in historic downtown Sherman.
      109 S Travis St, Sherman, TX 75090
      View Details
    • $19 SF/Yr
      62,291 SF

      Sherman Office Suites For Rent

      Professional office suites in Sherman's premier five-story office building.
      1800 Teague Dr, Sherman, TX 75090
      View Details
    • $21 SF/Yr
      62,291 SF

      Sherman Office Suites For Rent

      Professional office suites in premier five-story building near Hwy 75.
      1800 Teague Dr, Sherman, TX 75090
      View Details
    • $15 SF/Yr
      42,602 SF

      Retail Space on Highway 289

      Retail space suitable for convenience, grocery, or liquor store.
      902 Elliott Rd, Sherman, TX 75092
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space with easy highway access; divisible to 1,600 SF.
    Where is this retail space located?
    The property is located at 1915 N Heritage Pkwy Sherman, TX.
    What are key features of this property?
    This property features: - Easy access to HWY 82; - Landlord will divide +/- 8,000 SF space; - 1,600 SF minimum divisibility
    (972) 991-9590
    Request Owner's contact information
    1915 N Heritage Pkwy Sherman, TX
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1915 N Heritage Pkwy
    Sherman, TX
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1915 N Heritage Pkwy Sherman, TX
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bill Wastoskie
    Bill Wastoskie
    Real Estate License ID: TX 470936
    (972) 991-9590
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.