Four-Suite Office
202-221 N Walnut Street 202-21, Sherman, TX 75090
For Sale
$950,000
All suites are occupied, with three recently updated and private parking behind the building.
Property Size4,400 SF
Price / SF$215.91
Days on Market47
Property Features for 202-221 N Walnut Street 202-21
General Information
Standard status
Size
Total Parking Spaces
Occupancy
Additional Details
Opportunity Zone
Office Units
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
CAPROCK Real Estate Advisors LLC
Listed By:
Josh Long · License #TX0694673
(903) 200-5550
Source:
Minteerteam
Added: Sep 24
Changed: Oct 25
Last Checked: Oct 7 at 4:23PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1920, this 4,400-square-foot office property is configured as four separately leasable suites. All four are occupied, and three received renovations within the past three years. The building retains historic character and has eight private parking spaces at the rear.
The property fronts North Walnut Street, one block from Sherman’s Downtown Square, and lies within the Sherman Opportunity Zone.
The property fronts North Walnut Street, one block from Sherman’s Downtown Square, and lies within the Sherman Opportunity Zone.
Key Highlights
- Four separately leasable office suites; all are currently occupied
- 4,400 square feet; built in 1920
- 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
Office A
$1.55M
$1.35M – $1.81M
NOI $108,346 @ 7.0% cap · market cap 11.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,260
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
$163,500
Median Home Value
Market
Average Price Trend$/SF for Office buildings in Grayson County, TX
Properties on Market for Office buildings in Grayson County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - All suites are occupied, with three recently updated and private parking behind the building.
Where is this office building located?
The property is located at 202-221 N Walnut Street 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: Four separately leasable office suites; all are currently occupied; 4,400 square feet; built in 1920; Three suites renovated within the past three years
