Historic Mixed-Use
For Sale
$1,150,000
207 S Travis Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size6,400 SF
Lot Size0.14 Acres
Price / SF$179.69
Days on Market8
Property Features for 207 S Travis Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Subdivision
Otp Sherman
Directions
See GPS
Standard status
Active
APN
356643
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
OTP SHERMAN, BLOCK 8, LOT PT 2 & N 10' 3, ACR
Tax Annual Amount
13156
Legal Description
OTP SHERMAN, BLOCK 8, LOT PT 2 & N 10' 3, ACR
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Concrete, Laminate
Building materials
Brick, Block, WoodSiding
Roof type
Shingle
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 27 at 1:06PM
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,360
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Hotel Hospitality
$3.28M
$2.87M – $3.83M
NOI $229,824 @ 7.0% cap · market cap 19.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,235
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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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
