Multi-Tenant Retail Shopping
For Sale
$2,695,000
Pending
2121 N Fm 1417, Sherman, TX 75092
An established tenant mix spans food service, personal services, retail, and bookkeeping, with additional land available for development.
Property Size18,885 SF
Lot Size3.56 Acres
Days on Market11
Property Features for 2121 N Fm 1417
General Information
Standard status
Pending
Size
18,885 SF
Lot size
3.56 Acres
Zoning
Retail
Automotive
Automotive Uses
fuel station
Convenience Store
Yes
Fuel Brand
Casey's
Tenancy & Operations
Tenant in Place
Yes
Current Tenants
Casey's General Stores
Real Estate Included
Yes
Additional Details
Anchor Co-Tenants
Casey's General Stores
Amenities
Concrete,Other
18885
9
Other
1
3 to < 5 Acres
Slab
No Dock
3.5600
Acres
Public Records
Common,Open,Outside,Parking Lot
City Street
18885.00
155073.6000
Brick,Cement Block,Cement,Other
Building Details
Building Size
18,885 SF
Year Built
1983
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
(817) 402-2342
Listed By:
Tiffany McDonald
Source:
Focusonhomesrealty
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 8:00AM
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 Tiffany McDonald
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Investment Insights
Based on property information with market context.
This 18,885-square-foot shopping center, built in 1983, occupies a 3.559-acre site in Sherman. Existing businesses include massage, bookkeeping, a gas station, a gold and silver shop, a donut shop, pizza shops, and an ice cream shop. Additional buildable land is located behind the existing building, and vacant spaces offer room for further leasing. Retail zoning supports a range of commercial uses, including offices, salons, recreational facilities, gyms, shops, cafes, and restaurants; smoking and vape shops are excluded.
Casey's General Stores convenience store and gas station serves as an anchor. Walmart Neighborhood Market is diagonally nearby. The property is accessed from a city street and includes an open parking lot.
Casey's General Stores convenience store and gas station serves as an anchor. Walmart Neighborhood Market is diagonally nearby. The property is accessed from a city street and includes an open parking lot.
Key Highlights
- 18,885‑square‑foot building on a 3.559‑acre site
- Built in 1983
- Existing tenant mix includes food service, personal services, retail, bookkeeping, and a gas station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,378
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,560
$2.0M
Cap Rate 7%
$1,405,400
$1.4M
Cap Rate 9%
$1,093,089
$1.1M
Market Conditions
NOI Build-Up for 18,885 SF
Gross rent
$154.1K $8.16/SF
− Vacancy
−$13.6K −$0.72/SF
EGI
$140.5K $7.44/SF
− OpEx
−$42.2K −$2.23/SF
NOI
$98.4K $5.21/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,967,560
Cap Rate 7%
$1,405,400
Cap Rate 9%
$1,093,089
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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
235
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Canyon Creek Shopping Center — 155709, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Shopping center - An established tenant mix spans food service, personal services, retail, and bookkeeping, with additional land available for development.
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: 18,885‑square‑foot building on a 3.559‑acre site; Built in 1983; Existing tenant mix includes food service, personal services, retail, bookkeeping, and a gas station
