Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot in Sherman, TX Title is generated by Realmo AI

    1607 Moreland Drive, Sherman, TX 75090

    View on Map
    Claim this Listing
    For Sale
    $84,000

    LAND - Sherman, TX

    Lot size:
    0.19 Acres
    Added:
    May 27, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 5 at 10:06 pm

    Property Features for 1607 Moreland Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared
    Standard status
    Active
    APN
    214421
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    PECAN GROVE VILLAGE RPLT LT 3 GALLAGHER PARK
    Tax Annual Amount
    685

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Caitlin Stowers

    Listing agent Caitlin Stowers License #0745780

    Listing office Better Homes & Gardens, Winans Sherman, TX

    Listing date May 27, 2026

    MLS# 21123766 Listing URL

    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.

    HighLights

    • Located in the highly sought‑after Pecan Grove Village neighborhood.
    • Priced under $100,000.
    • No HOA or MUD fees, offering monthly affordability.
    • Maintained and improved undeveloped lot ready for building.
    • Walking distance to Neblett Elementary School.
    • Quick access to Highway 75 for easy commute to the Metroplex.

    Overview

    Located in the Pecan Grove Village neighborhood of Sherman, Texas, this undeveloped lot is suitable for residential construction. The 0.19-acre property has been maintained and improved. It offers monthly affordability with no HOA or MUD fees. Reasonable building restrictions are in place. The location provides walking distance access to Neblett Elementary School and is five minutes from Sherman Town Center. Highway 75 is easily accessible, facilitating commutes to the Metroplex.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.597606
    Latitude
    33.678837

    Nearby Similar for Sale

    • $1,500,000
      3,767 SF

      Flex Property with Climate-Controlled Shop

      Climate-controlled workshop plus showroom and separate office building support a variety of service and light industrial uses.
      2411 Texoma Parkway, Sherman, TX 75090
      View Details
    • $566,000
      2,610 SF

      Downtown Retail Storefront Portfolio

      Four separate rental storefront spaces for sale near Travis Street in downtown Sherman, TX.
      115-121 E Wall, Sherman, TX 75090
      View Details
    • $799,000
      4,950 SF

      Live-Work Loft with Retail

      Mixed-use loft above street-level retail near Sherman Square, with exposed brick, two bedrooms, patio, and flexible all-seasons room.
      205 & 207 E Houston Street, Sherman, TX 75090
      View Details
    • $1,499,000

      Flex Space with Separate Entry

      Versatile flex layout with classroom space and a separate north-side entrance for office or light manufacturing use.
      920 Heritage Parkway, Sherman, TX 75092
      View Details
    • $1,200,000

      Turnkey Medical Office Building with X-Ray

      Purpose-built two-story medical office with exam rooms, private offices, and an on-site X-Ray room set for clinical workflows.
      1700 Gallagher Drive, Sherman, TX 75090
      View Details
    • $549,000

      Two-Building Flex and Auto Property

      Two separate commercial buildings offer flexible workspace for owner-users or investors seeking service-based income potential.
      520 S Sam Rayburn Freeway, Sherman, TX 75090
      View Details
    • $2,500,000

      Historic Multi-Story Building

      Three-floor, elevator-served building restored to studs for a full remodel with prime downtown retail and mixed-use potential.
      115 S Travis Street, Sherman, TX 75090
      View Details
    • $945,000
      5,000 SF

      Sherman, Texas Commercial Opportunity

      C-2 zoned property with parking lot in Sherman, Texas.
      117 Houston St, Sherman, TX 75090
      View Details
    • $1,700,000

      Medical Office Building

      Well-positioned medical office building offering functional space and established healthcare-ready layout in Sherman, Texas.
      500 E Peyton Street, Sherman, TX 75090
      View Details
    • $950,000

      C-2 Redevelopment Motel Site

      Redevelopment-ready C-2 property with motel structures and broad retail, service, or office potential.
      2424 Texoma Parkway, Sherman, TX 75090
      View Details
    • $149,000
      675 SF

      Leased Retail Storefront with Multiple Units

      Acquire one unit or the full group, anchored by an in-place Boba Tea tenant on Wall Street.
      115 Wall Street, Sherman, TX 75090
      View Details
    • $924,000
      44,039 SF

      Corner Commercial Pad Sites

      Corner pad sites on a former mall footprint offer flexible development options for retail, commercial, office, lodging, and institutional uses.
      2801 Texoma Parkway, Sherman, TX 75090
      View Details

    FAQs

    What type of property is this?
    Land - Undeveloped lot ready for your dream home in Sherman, TX.
    Where is this land located?
    The property is located at 1607 Moreland Drive Sherman, TX.
    What is the asking price?
    The asking price for this property is $84,000.
    What are key features of this property?
    This property features: Located in the highly sought‑after Pecan Grove Village neighborhood.; Priced under $100,000.; No HOA or MUD fees, offering monthly affordability.
    (903) 357-1777
    We can help!
    Listing Contact
    Caitlin Stowers
    Real Estate License ID: 0745780
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1607 Moreland Drive, Sherman, TX 75090
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!