Historic Mixed-Use
207 S Travis Street, Sherman, TX 75090
For Sale
$1,150,000
CommercialSale, Sherman, TX
Property Size6,400 SF
Lot Size0.14 Acres
Price / SF$179.69
Days on Market55
Property Features for 207 S Travis Street
General Information
Property type
Property subtype
Zoning description
Subdivision
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
CAPROCK Real Estate Advisors LLC
Listed By:
Josh Long · License TX #0694673
(469) 834-8063
Added: Sep 20
Changed: Oct 23
Last Checked: Nov 13 at 4:06AM
MLS# 21391565
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.
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Investment Insights
Based on property information with market context.
Built in 1900, this approximately 6,400-square-foot mixed-use property at 207 S Travis Street includes four separately leasable units. The configuration comprises two street-facing commercial spaces and two residential lofts currently under construction. One commercial unit is leased to a local attorney, providing existing rental income, while the lofts can be reached from the rear parking area or by a street-level stairway.
The property occupies a 0.14-acre site near the gateway to Downtown Sherman and includes brick, block, and wood siding construction. Public water and public sewer serve the building, with central heating and central air. The site is within the Sherman Opportunity Zone, and the source information notes potential incentives for qualifying downtown redevelopment projects.
The property occupies a 0.14-acre site near the gateway to Downtown Sherman and includes brick, block, and wood siding construction. Public water and public sewer serve the building, with central heating and central air. The site is within the Sherman Opportunity Zone, and the source information notes potential incentives for qualifying downtown redevelopment projects.
Key Highlights
- Approximately 6,400‑square‑foot mixed‑use building on 0.14 acres
- Four separately leasable units: two commercial spaces and two residential lofts
- Two residential lofts currently under construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,360
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,200
$1.3M
Cap Rate 7%
$905,143
$905.1K
Cap Rate 9%
$704,000
$704.0K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$115.2K $18.00/SF
− Vacancy
−$13.8K −$2.16/SF
EGI
$101.4K $15.84/SF
− OpEx
−$38.0K −$5.94/SF
NOI
$63.4K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,200
Cap Rate 7%
$905,143
Cap Rate 9%
$704,000
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
NOI $106,230 @ 7.0% cap · market cap 9.24%
Second Best
Mixed Use
$905.1K
$792.0K – $1.06M
NOI $63,360 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,594 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,235
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
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four separately leasable spaces combine street-front commercial use with residential loft construction near Downtown Sherman.
Where is this mixed-use property located?
The property is located at 207 S Travis Street Sherman, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Approximately 6,400‑square‑foot mixed‑use building on 0.14 acres; Four separately leasable units: two commercial spaces and two residential lofts; Two residential lofts currently under construction
