Renovated Multi-Suite Office
New
For Sale
$950,000
202-221 N Walnut Street #202-21 202-21, Sherman, TX 75090
Four occupied commercial suites offer rental income and private parking near Sherman’s historic Downtown Square.
Property Size4,400 SF
Price / SF$215.91
Days on Market1
Property Features for 202-221 N Walnut Street #202-21 202-21
General Information
Standard status
Active
Size
4,400 SF
Total Parking Spaces
8
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Office Units
4
Building Details
Year Built
1920
Buildings
1
Building Size
4,400 SF
Tenancy
Multi
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Josephfloreshome
Added: Oct 7
Last Checked: Oct 7 at 2:49PM
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 CAPROCK Real Estate Advisors LLC
Investment Insights
Based on property information with market context.
Built in 1920, this office building contains approximately 4,400 square feet divided among four separately leasable commercial suites. All four suites are occupied, and three have been renovated within the past three years. The property also includes eight private parking spaces behind the building.
The building is on North Walnut Street, one block from Sherman’s historic Downtown Square, and lies within the Sherman Opportunity Zone. The City of Sherman supports downtown revitalization and may offer incentives for qualifying redevelopment projects.
The building is on North Walnut Street, one block from Sherman’s historic Downtown Square, and lies within the Sherman Opportunity Zone. The City of Sherman supports downtown revitalization and may offer incentives for qualifying redevelopment projects.
Key Highlights
- Approximately 4,400 square feet in a 1920 building
- Four separately leasable suites, all currently occupied
- Three suites renovated within the past three years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,599
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,471,980
$1.5M
Cap Rate 7%
$1,051,414
$1.1M
Cap Rate 9%
$817,767
$817.8K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$135.2K $30.72/SF
− Vacancy
−$37.0K −$8.42/SF
EGI
$98.1K $22.30/SF
− OpEx
−$24.5K −$5.58/SF
NOI
$73.6K $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%
$1,471,980
Cap Rate 7%
$1,051,414
Cap Rate 9%
$817,767
Alternative Uses
Best Use
Office B
$1.05M
$920.0K – $1.23M
NOI $73,599 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.26M
$1.98M – $2.63M
NOI $158,004 @ 7.0% cap · market cap 16.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Four occupied commercial suites offer rental income and private parking near Sherman’s historic Downtown Square.
Where is this office building located?
The property is located at 202-221 N Walnut Street #202-21 202-21 Sherman, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximately 4,400 square feet in a 1920 building; Four separately leasable suites, all currently occupied; Three suites renovated within the past three years
