Retail Building with Attached
New
For Sale
$750,000
211 W Lamar Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size7,471 SF
Lot Size0.18 Acres
Price / SF$100.39
Days on Market3
Property Features for 211 W Lamar Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
On Street
Subdivision
Otp Sherman
Directions
SEE GPS
Standard status
Active
APN
161870
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
OTP SHERMAN, BLOCK 4, LOT PT 4, 5, 6, & 7, 53
Tax Annual Amount
8481
Legal Description
OTP SHERMAN, BLOCK 4, LOT PT 4, 5, 6, & 7, 53
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Brick, Block, Concrete
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 22 at 5:06AM
MLS# 21391608
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.
Constructed in 1940, this approximately 7,471-square-foot retail property combines a brick, block, and concrete structure with an attached rear warehouse. Concrete flooring, central heating, central air, a shingle roof, public water, and public sewer are among the documented improvements. The configuration may support restaurant, sports bar and grill, gallery, furniture or home décor showroom, and mixed-use concepts.
The property sits at 211 W Lamar Street in Sherman, at a gateway to Downtown Sherman and within the city’s historic district. Multiple dedicated city parking lots are located within two blocks, while on-street parking serves the property. The site also lies within the Sherman Opportunity Zone, and the city may offer incentives for qualifying redevelopment projects.
The property sits at 211 W Lamar Street in Sherman, at a gateway to Downtown Sherman and within the city’s historic district. Multiple dedicated city parking lots are located within two blocks, while on-street parking serves the property. The site also lies within the Sherman Opportunity Zone, and the city may offer incentives for qualifying redevelopment projects.
Key Highlights
- Approximately 7,471 square feet on 0.184 acres
- Attached rear warehouse provides additional storage space
- Built in 1940 with brick, block, and concrete 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
$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
1,235
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Retail space - Brick retail space with rear storage, central HVAC, and access to public parking nearby.
Where is this retail space located?
The property is located at 211 W Lamar Street 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 on 0.184 acres; Attached rear warehouse provides additional storage space; Built in 1940 with brick, block, and concrete construction
