Historic Storefront with Rear
New
For Sale
Contact for pricing
211 W LAMAR ST, Sherman, TX 75090
Storefront building with an attached rear warehouse and nearby access to multiple city parking lots.
Property Size7,471 SF
Price / SF$100.39
Days on Market4
Property Features for 211 W LAMAR ST
General Information
Standard status
Active
Size
7,471 SF
Property subtype
Retail
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1940
Listing Agency:
CAPROCK REAL ESTATE ADVISORS
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Crexi
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 11 at 6:46AM
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 1940, this Sherman storefront building contains approximately 7,471 square feet and retains historic architectural character. An attached warehouse at the rear expands the property’s functional footprint, providing additional space for storage, operations, or future buildout. The building’s configuration supports a range of commercial and adaptive-reuse concepts, including restaurant, gallery, showroom, and mixed-use applications identified for the property.
The address is 211 W Lamar St., positioned along a gateway corridor leading toward Downtown Sherman. Multiple dedicated city parking lots are located within two blocks. The property is also situated within the Sherman Opportunity Zone, and the source information notes that the city may offer incentives for qualifying redevelopment projects in its historic district.
The address is 211 W Lamar St., positioned along a gateway corridor leading toward Downtown Sherman. Multiple dedicated city parking lots are located within two blocks. The property is also situated within the Sherman Opportunity Zone, and the source information notes that the city may offer incentives for qualifying redevelopment projects in its historic district.
Key Highlights
- Approximately 7,471 square feet of building area
- Built in 1940 with historic architectural character
- Attached rear warehouse adds storage and operational space
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
$47,259
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
6.30%
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%
$945,180
$945.2K
Cap Rate 7%
$675,129
$675.1K
Cap Rate 9%
$525,100
$525.1K
Market Conditions
NOI Build-Up for 7,471 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
$61.0K $8.16/SF
− Vacancy
−$5.4K −$0.72/SF
EGI
$55.6K $7.44/SF
− OpEx
−$8.3K −$1.12/SF
NOI
$47.3K $6.33/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
15.00%
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%
$945,180
Cap Rate 7%
$675,129
Cap Rate 9%
$525,100
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.07M
NOI $124,007 @ 7.0% cap · market cap 16.53%
Second Best
Warehouse
$675.1K
$590.7K – $787.7K
NOI $47,259 @ 7.0% cap · market cap 6.30%
Theoretical Best
Hotel Hospitality
$3.83M
$3.35M – $4.47M
NOI $268,284 @ 7.0% cap · market cap 35.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
Balanced
Demand for This Use
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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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Storefront building with an attached rear warehouse and nearby access to multiple city parking lots.
Where is this storefront property located?
The property is located at 211 W LAMAR ST Sherman, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Approximately 7,471 square feet of building area; Built in 1940 with historic architectural character; Attached rear warehouse adds storage and operational space
