Historic Mixed-Use
New
For Sale
Contact for pricing
207 South Travis Street, Sherman, TX 75090
Four leasable units combine street-level commercial space with residential loft development in a downtown setting.
Property Size6,400 SF
Price / SF$179.69
Days on Market6
Property Features for 207 South Travis Street
General Information
Standard status
Active
Size
6,400 SF
Property subtype
Retail, Multifamily, Office
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
CAPROCK REAL ESTATE ADVISORS
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Crexi
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 13 at 8:02AM
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
Investment Insights
Based on property information with market context.
Constructed in 1900, this approximately 6,400-square-foot mixed-use property includes four separately leasable units. The layout features two street-facing commercial spaces and two residential lofts that are currently under construction. One commercial unit is occupied by a local attorney, providing an existing rental component, while the lofts have access from the rear parking area and a street-level stairway.
The building is located at 207 South Travis Street in Sherman’s downtown district and sits within the Sherman Opportunity Zone. Its commercial areas can support a range of professional-service and retail-oriented uses, including office, boutique, salon, or food-service concepts, as supported by the existing configuration and source information. The property also offers a basis for adaptive reuse within a historic downtown setting.
The building is located at 207 South Travis Street in Sherman’s downtown district and sits within the Sherman Opportunity Zone. Its commercial areas can support a range of professional-service and retail-oriented uses, including office, boutique, salon, or food-service concepts, as supported by the existing configuration and source information. The property also offers a basis for adaptive reuse within a historic downtown setting.
Key Highlights
- Approximately 6,400 square feet in a building constructed in 1900
- Four separately leasable units: two commercial spaces and two residential lofts
- Two street‑front commercial units provide prominent storefront exposure
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
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leasable units combine street-level commercial space with residential loft development in a downtown setting.
Where is this mixed-use property located?
The property is located at 207 South 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 feet in a building constructed in 1900; Four separately leasable units: two commercial spaces and two residential lofts; Two street‑front commercial units provide prominent storefront exposure
