Multi-Tenant Retail
For Sale
$2,695,000
2121 N Fm 1417, Sherman, TX 75092
Shopping center anchored by Casey’s with additional buildable land and flexible commercial use options.
Property Size18,885 SF
Lot Size3.56 Acres
Price / SF$142.71
Days on Market58
Property Features for 2121 N Fm 1417
General Information
Standard status
Active
Size
18,885 SF
Lot size
3.56 Acres
Property subtype
Retail
Building Details
Year Built
1983
Tenancy
Multi
Listing Agency:
Redbud Offices LLC
(972) 399-9726
Listed By:
Anoo Sathappun · License #0635204
(972) 399-9726
Source:
Xome
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 25 at 3:47PM
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 Redbud Offices LLC
Investment Insights
Based on property information with market context.
This multi-tenant retail property features 18,885 square feet of building space on 3.559 acres, with additional buildable land behind the existing building. The center is currently occupied by a diverse mix of tenants including a massage business, bookkeeping, a gas station, a gold and silver shop, a donut shop, pizza shops, and an ice cream shop. The property is commercially zoned and supports a range of business uses, including professional offices, salon suites, recreational facilities, gym uses, retail shops (excluding smoking or vape shops), shopping, cafes, restaurants, and other businesses.
Anchored by Casey’s General Stores convenience store and gas station, the center benefits from established consumer traffic and visibility. The property is diagonally located near Walmart Neighborhood Market, supporting retail co-tenancy in the surrounding trade area.
For buyers and operators, the site offers an income-producing tenant mix with the added factor of vacant spaces, as noted in the provided pro-forma NOI potential of $265,226. The combination of an existing anchor, flexible allowable uses, and available buildable land behind the property can support a variety of merchandising and tenanting strategies within the commercially zoned framework.
Anchored by Casey’s General Stores convenience store and gas station, the center benefits from established consumer traffic and visibility. The property is diagonally located near Walmart Neighborhood Market, supporting retail co-tenancy in the surrounding trade area.
For buyers and operators, the site offers an income-producing tenant mix with the added factor of vacant spaces, as noted in the provided pro-forma NOI potential of $265,226. The combination of an existing anchor, flexible allowable uses, and available buildable land behind the property can support a variety of merchandising and tenanting strategies within the commercially zoned framework.
Key Highlights
- Shopping center with 18,885 SF building space on 3.559 acres in Sherman, TX
- Additional buildable land available behind the existing building
- Anchored by Casey's General Stores convenience store and gas station
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $154.1k | $8.16 |
| − Vacancy | −$13.6k | −$0.72 |
| EGI | $140.5k | $7.44 |
| − OpEx | −$42.2k | −$2.23 |
| NOI | $98.4k | $5.21 |
18,885 SF · lease $8.16/SF/yr · vacancy 8.80% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$4.80M
$4.20M – $5.60M
NOI $335,851 @ 7.0% cap · market cap 12.46%
Second Best
Retail
$4.48M
$3.92M – $5.22M
NOI $313,461 @ 7.0% cap · market cap 11.63%
Theoretical Best
Hotel Hospitality
$9.69M
$8.48M – $11.30M
NOI $678,160 @ 7.0% cap · market cap 25.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75092, TX
27,186
Population
13,117
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
94%
High-School Grad
113.9 sq mi
ZIP Area
239
Density / Sq Mi
$67,160
Median Household Income
$41,683
Median Earnings
$1,205
Median Rent
$260,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Canyon Creek Shopping Center — 155709, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Shopping center - Shopping center anchored by Casey’s with additional buildable land and flexible commercial use options.
Where is this shopping center located?
The property is located at 2121 N Fm 1417 Sherman, TX.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Shopping center with 18,885 SF building space on 3.559 acres in Sherman, TX; Additional buildable land available behind the existing building; Anchored by Casey's General Stores convenience store and gas station
