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    Office Suites in Five-Story Building Title is generated by Realmo AI

    1800 Teague Drive, Sherman, TX 75090

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    For Lease
    $21 SF/Yr

    COMMERCIAL - Sherman, TX

    Type:Office
    Lot size:
    1.43 Acres
    Added:
    Dec 6, 2025
    Days on Market:
    180
    Last Refresh:
    Jun 4 at 10:06 am

    Property Features for 1800 Teague Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    APN
    157353
    Lot size
    1.43 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    5
    Number of units
    9
    Flooring type
    Combination
    Roof type
    Flat

    We can help!

    Listing Contact
    Myndee Allen
    Myndee Allen

    Listing agent Myndee Allen License #0758513

    Listing office Preeminent CRE Group Grapevine, TX

    Listing date Dec 6, 2025

    MLS# 21114969

    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

    • Professional office suites at One Grand Centre in Sherman’s five‑story office building (built 1982)
    • Multiple suite layout options, from single offices to multi‑suite configurations
    • Central heating and central air conditioning, plus combination flooring
    • Public utilities: public water and public sewer; flat roof
    • On‑site conference room and anytime secure access
    • Rent listed as $21.00/psf plus NNN and electric

    Overview

    Professional office suites are available at One Grand Centre, a prominent five-story office building in Sherman. Suites can be configured from individual offices to multi-suite arrangements, supported by flexible floorplans and abundant natural light. The building offers anytime secure access, an on-site conference room, and ample parking to support daily operations.

    Conveniently located near Hwy 75, the property places office users close to retail and dining. The overall setup makes it well-suited for teams that value straightforward access for employees and visitors, with an established, professional building environment.

    One Grand Centre is a practical fit for medical, legal, financial, and other professional service users seeking adaptable office space without being locked into a single layout. Pricing is offered at $21.00 per square foot plus NNN and electric, making it an appealing option for tenants looking for a serviced, office-focused facility with conference support on-site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Royal prestige Marketing & Advertising Bert's Mobile Services Auto Repair Shop Coach Delisa Training Center Venable William M Physician Ronald W. Cunningham, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.600178
    Latitude
    33.656772

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    FAQs

    What type of property is this?
    Office building - Flexible office suite options with secure access, conference space, and ample parking in a professional office setting.
    Where is this office building located?
    The property is located at 1800 Teague Drive Sherman, TX.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: Professional office suites at One Grand Centre in Sherman’s five‑story office building (built 1982); Multiple suite layout options, from single offices to multi‑suite configurations; Central heating and central air conditioning, plus combination flooring
    (469) 520-1198
    We can help!
    Listing Contact
    Myndee Allen
    Myndee Allen
    Real Estate License ID: 0758513
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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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