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    Leased Multi-Unit Retail Storefront Title is generated by Realmo AI

    115 Wall Street, Sherman, TX 75090

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    For Sale
    $149,000

    Four contiguous storefront units are offered for sale, with one currently leased to a boba tea tenant.

    Type:Commercial
    Property size:
    675 SF
    Price / SF:
    $220/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 5 at 2:20 am

    Property Features for 115 Wall Street

    General Information

    Standard status
    Active
    Size
    675 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1953

    We can help!

    Listing Contact
    Tommi Sue Homuth
    Tommi Sue Homuth

    Listing agent Tommi Sue Homuth License #0623240

    Listing office Tracy Realty

    Listing date Jun 4, 2026

    Source Signaturere

    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 Tracy Realty

    HighLights

    • Four contiguous storefront units for sale in Sherman, TX (Year built: 1953).
    • One unit is currently leased to a boba tea tenant.
    • Units are located just steps from the Square and along E Wall St, near local businesses.

    Overview

    This for-sale retail property offers multiple storefront units, presented as an opportunity to purchase a single unit or all four. The building supports neighborhood-oriented food and beverage concepts, aligning with the property’s use profile that includes coffee shops and restaurants alongside general retail and storefront use.

    Located at 115 Wall Street in Sherman, TX, the property is described as being just steps from the Square. The immediate area is characterized by surrounding local businesses, including Lupe’s Tamales, Electric Tattoo, and a new upscale cocktail bar, and it benefits from frequent community events and festivals referenced in the offering.

    One of the units is currently leased to a boba tea shop, providing an immediate tenant within the retail mix. For buyers and brokers, the setup can fit a range of strategies, including acquiring a leased storefront for continued operations or consolidating the full set of units to pursue a broader tenant plan in a walkable, event-driven county seat environment.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $16.8k $24.96
    − Vacancy −$842 −$1.25
    EGI $16.0k $23.71
    − OpEx −$4.0k −$5.93
    NOI $12.0k $17.78
    675 SF · lease $24.96/SF/yr · vacancy 5.00% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $171.5K
    $150.1K – $200.1K (±1% cap)
    NOI $12,004 @ 7.0% cap · market cap 8.06%
    Second Best
    Retail
    $160.1K
    $140.1K – $186.7K (±1% cap)
    NOI $11,204 @ 7.0% cap · market cap 7.52%
    Theoretical Best
    Hotel Hospitality
    $346.3K
    $303.0K – $404.0K (±1% cap)
    NOI $24,239 @ 7.0% cap · market cap 16.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Coffee shops

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Hole in the Wall Get-Away Cafe — 901 E Lamar St Ste. F, Sherman, TX 75090
    • Bean Me Up Coffee & Bistro — 115 S Travis St, Sherman, TX 75090
    • The Loft Downtown — 100 s crockett st suite 200, sherman, tx 75090
    • The White Rabbit Coffee House — 100 S Crockett St Suite 200, Sherman, TX 75090
    • The Loft Coffee House — 100 s crockett st suite 200, sherman, tx 75090

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.6090067
    Latitude
    33.6378304

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    FAQs

    What type of property is this?
    Coffee shop - Four contiguous storefront units are offered for sale, with one currently leased to a boba tea tenant.
    Where is this coffee shop located?
    The property is located at 115 Wall Street Sherman, TX.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: Four contiguous storefront units for sale in Sherman, TX (Year built: 1953).; One unit is currently leased to a boba tea tenant.; Units are located just steps from the Square and along E Wall St, near local businesses.
    (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.

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