Mixed-Use Building with Retail
For Sale
$1,150,000
207 S Travis St Unit 207-20, Sherman, TX 75090
Four leasable spaces pair street-facing commercial units with residential lofts under construction.
Property Size6,400 SF
Price / SF$179.69
Days on Market12
Property Features for 207 S Travis St Unit 207-20
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Commercial
Building Details
Year Built
1900
Listing Agency:
CAPROCK Real Estate Advisors LLC
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Granburyhomefinder
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 2:38PM
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.
The approximately 6,400-square-foot property at 207 S Travis St in Sherman dates to 1900 and contains four separately leasable spaces. Two commercial units face the street, while two residential lofts are being built. One commercial space is occupied by an attorney. Access to the lofts is available from the rear parking area or via a street-level stairway.
The building is near Downtown Sherman, along South Travis Street. Its configuration combines commercial frontage with residential space in a downtown setting.
The building is near Downtown Sherman, along South Travis Street. Its configuration combines commercial frontage with residential space in a downtown setting.
Key Highlights
- Approximately 6,400 square feet in a building constructed in 1900
- Four separately leasable spaces: two commercial units and two residential lofts under construction
- Two street‑facing commercial spaces; one is leased to a local attorney
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
Current Use
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
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leasable spaces pair street-facing commercial units with residential lofts under construction.
Where is this mixed-use property located?
The property is located at 207 S Travis St Unit 207-20 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 feet in a building constructed in 1900; Four separately leasable spaces: two commercial units and two residential lofts under construction; Two street‑facing commercial spaces; one is leased to a local attorney
