Medical Office Building with Exam
For Sale
$1,200,000
1700 Gallagher Dr, Sherman, TX 75090
Two-level medical facility with patient areas, private offices, imaging space, and on-site storage.
Property Size4,397 SF
Price / SF$272.91
Days on Market64
Property Features for 1700 Gallagher Dr
General Information
Standard status
Active
Size
4,397 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
drive through awning
lobby
waiting area
break room
Building Details
Year Built
2006
Buildings
1
Stories
2
Listing Agency:
C-21 DEAN GILBERT, REALTORS
Listed By:
Clay Gilbert, Grant Gilbert
Source:
Minteerteam
Added: Aug 12
Changed: Oct 5
Last Checked: Oct 7 at 4:34PM
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 4,397-square-foot medical office building was constructed in 2006 and is arranged across two floors. The first level includes six exam rooms, three private offices, an X-ray room with leaded walls and dedicated power, a nurses’ station, lobby, waiting area, and separate check-in and check-out areas. Upper-level improvements include storage space and a break room.
The property is located at 1700 Gallagher Dr, Sherman, TX 75090, between US Highway 75 and Texoma Parkway. Building features include a drive-through awning, spray foam insulation, tankless hot water, and natural gas systems. The configuration supports medical office operations with defined patient, administrative, imaging, and storage areas.
The property is located at 1700 Gallagher Dr, Sherman, TX 75090, between US Highway 75 and Texoma Parkway. Building features include a drive-through awning, spray foam insulation, tankless hot water, and natural gas systems. The configuration supports medical office operations with defined patient, administrative, imaging, and storage areas.
Key Highlights
- 4,397‑square‑foot medical office building constructed in 2006
- Six exam rooms and three private offices on the first floor
- X‑ray room with leaded walls and appropriate power
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
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 authorities.
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road 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
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-level medical facility with patient areas, private offices, imaging space, and on-site storage.
Where is this medical office space located?
The property is located at 1700 Gallagher Dr 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 building constructed in 2006; Six exam rooms and three private offices on the first floor; X‑ray room with leaded walls and appropriate power
