Medical Office with Drive-Through
1700 Gallagher Drive, Sherman, TX 75090
For Sale
$1,200,000
CommercialSale, Sherman, TX
Property Size4,397 SF
Lot Size0.52 Acres
Price / SF$272.91
Days on Market10
Property Features for 1700 Gallagher Drive
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Condition
Medical Specialty
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
drive through awning
spray foam insulation
tankless hot water
efficient natural gas systems
nurses' station
lobby
waiting area
separate check-in and check-out stations
break room
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
C-21 DEAN GILBERT, REALTORS · Century 21 Real Estate
Listed By:
Clay Gilbert · License TX #0731330
(903) 893-5188
Added: Nov 3
Changed: Nov 10
Last Checked: Nov 12 at 8:06AM
MLS# 21427989
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.
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Investment Insights
Based on property information with market context.
Built in 2006, this 4,397-square-foot medical office occupies a 0.52-acre site and is arranged across two floors. The first floor contains six exam rooms, three private offices, an X-ray room with lead-lined walls and dedicated power, a nurses’ station, a lobby and waiting area, plus separate check-in and check-out stations. Upstairs, the building provides storage for supplies or records and a large break room. A drive-through awning is among the property’s physical features, along with spray foam insulation, tankless hot water, natural gas heating, and central air conditioning.
The address is 1700 Gallagher Drive in Sherman, Texas, between US Highway 75 and Texoma Parkway. The site has public water and sewer service and includes a parking lot, covered parking, and a driveway.
The address is 1700 Gallagher Drive in Sherman, Texas, between US Highway 75 and Texoma Parkway. The site has public water and sewer service and includes a parking lot, covered parking, and a driveway.
Key Highlights
- 4,397‑square‑foot medical office on 0.52 acres
- First floor includes 6 exam rooms, 3 private offices, and an X‑ray room with leaded walls and appropriate power
- Separate check‑in and check‑out stations, lobby, waiting area, and nurses’ station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,549
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,470,980
$1.5M
Cap Rate 7%
$1,050,700
$1.1M
Cap Rate 9%
$817,211
$817.2K
Market Conditions
NOI Build-Up for 4,397 SF
Gross rent
$135.1K $30.72/SF
− Vacancy
−$37.0K −$8.42/SF
EGI
$98.1K $22.30/SF
− OpEx
−$24.5K −$5.58/SF
NOI
$73.5K $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 Rate 5%
$1,470,980
Cap Rate 7%
$1,050,700
Cap Rate 9%
$817,211
Alternative Uses
Best Use
Office B
$1.05M
$919.4K – $1.23M
NOI $73,549 @ 7.0% cap · market cap 6.13%
Second Best
Healthcare Medical
$955.2K
$835.8K – $1.11M
NOI $66,863 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.55M
$1.35M – $1.80M
NOI $108,272 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Under-served
Demand for This Use
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
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Market
Properties on Market for Medical Office Space in Sherman
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A two-level clinical layout includes exam and administrative rooms, imaging space, and an upper-floor break area.
Where is this medical office space located?
The property is located at 1700 Gallagher Drive Sherman, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,397‑square‑foot medical office on 0.52 acres; First floor includes 6 exam rooms, 3 private offices, and an X‑ray room with leaded walls and appropriate power; Separate check‑in and check‑out stations, lobby, waiting area, and nurses’ station
