Renovated Office
1824 S Walnut Street, Sherman, TX 75090
For Sale
Contact for pricing
A compact workspace includes an updated kitchen, laundry hookups, and sliding doors for separating areas.
Property Size464 SF
Price / SF$1.64
Days on Market11
Property Features for 1824 S Walnut Street
General Information
Standard status
Size
Property subtype
Additional Details
Condition
Property Use
Amenities
updated kitchen with appliances
laundry hook-ups
sliding barn doors
large utility room
Building Details
Year Built
Listing Agency:
Eartha Wang
(214) 695-5681
Listed By:
Eartha Wang · License TX #0581554
(972) 294-5160
Source:
Ember-realty
Added: Oct 31
Changed: Nov 10
Last Checked: Nov 9 at 9:20PM
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 Eartha Wang
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Investment Insights
Based on property information with market context.
This 464-square-foot office unit is configured as a studio with an updated kitchen and appliances. Fresh white paint and sliding barn doors provide a refreshed interior and flexible separation between areas. A utility room off the kitchen has laundry hookups and can also serve as storage. The property was built in 1925 and has been renovated.
Key Highlights
- 464 square feet of office space
- Updated kitchen with appliances
- Utility room off the kitchen includes laundry hookups
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,761
Suggested Prices Based on Cap Rates
Cap Rate 5%
$155,220
$155.2K
Cap Rate 7%
$110,871
$110.9K
Cap Rate 9%
$86,233
$86.2K
Market Conditions
NOI Build-Up for 464 SF
Gross rent
$14.3K $30.72/SF
− Vacancy
−$3.9K −$8.42/SF
EGI
$10.3K $22.30/SF
− OpEx
−$2.6K −$5.58/SF
NOI
$7.8K $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%
$155,220
Cap Rate 7%
$110,871
Cap Rate 9%
$86,233
Alternative Uses
Best Use
Office B
$110.9K
$97.0K – $129.4K
NOI $7,761 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$163.2K
$142.8K – $190.4K
NOI $11,426 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
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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
$163,500
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Grayson County, TX
Properties on Market for Office Units in Grayson County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - A compact workspace includes an updated kitchen, laundry hookups, and sliding doors for separating areas.
Where is this office unit located?
The property is located at 1824 S Walnut Street Sherman, TX.
What are key features of this property?
This property features: 464 square feet of office space; Updated kitchen with appliances; Utility room off the kitchen includes laundry hookups
