Purpose-Built Medical Office
1700 Gallagher Drive Sherman, TX 75090
New
1700 Gallagher Drive, Sherman, TX, 75090
$1,200,000
For Sale
$1,200,000
Medical office building with multiple exam rooms, offices, an X-Ray room, and two-floor support space.
Property Size4,397 SF
Price / SF$272.91
Days on Market2
Property Features for 1700 Gallagher Drive
General Information
- Standard status
- Active
- Size
- 4,397 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2006
Listing agency
C-21 DEAN GILBERT, REALTORS
(903) 814-7527
Listed by
Clay Gilbert · License #0731330
(903) 814-7527
Source
Fullhouserealtytx
Added: Jul 21 Updated: Jul 22 at 7:26AM Checked: Jul 22 at 7:26AM
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 C-21 DEAN GILBERT, REALTORS
Investment Insights
Based on property information with market context.
This purpose-built medical office offers turnkey functionality with a medical-focused layout. The first floor includes six exam rooms, three private offices, and an X-Ray room with leaded walls and appropriate power, along with a dedicated nurses' station. There are separate check-in and check-out stations, plus a lobby and waiting area. The second floor provides ample storage for supplies or files and a spacious break room area.
The property is centrally located in Sherman, Texas, between US Highway 75 and Texoma Parkway. It includes a drive-through awning and is equipped with spray foam insulation, tankless hot water, and efficient natural gas systems.
The property is centrally located in Sherman, Texas, between US Highway 75 and Texoma Parkway. It includes a drive-through awning and is equipped with spray foam insulation, tankless hot water, and efficient natural gas systems.
Key Highlights
- 2006‑built purpose‑built medical office building with two floors of clinical and support space
- First floor includes 6 exam rooms, 3 private offices, and a dedicated nurses' station
- X‑Ray room with leaded walls plus appropriate power for imaging use
Local Financial Insights For Office B
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 | $135.1k | $30.72 |
| − Vacancy | −$37.0k | −$8.42 |
| EGI | $98.1k | $22.30 |
| − OpEx | −$24.5k | −$5.58 |
| NOI | $73.5k | $16.73 |
4,397 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%
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
Hotel Hospitality
$2.26M
$1.97M – $2.63M
NOI $157,896 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Millmann Paul R ...
Pediatrician
Lauren Kirby
Physician
Lauren E Medford
Physician
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FAQs
What type of property is this?
Medical Office Space - Medical office building with multiple exam rooms, offices, an X-Ray room, and two-floor support space.
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: 2006‑built purpose‑built medical office building with two floors of clinical and support space; First floor includes 6 exam rooms, 3 private offices, and a dedicated nurses' station; X‑Ray room with leaded walls plus appropriate power for imaging use
