Retail Building with Attached
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 Market18
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: Oct 1
Last Checked: Oct 7 at 6:06PM
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 / Yr
$47,259
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
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
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 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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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
