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    Fully Finished Medical Office Suite Title is generated by Realmo AI

    2121 N Fm 1417, Sherman, TX 75092

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    For Lease
    $12 SF/Yr $18,885/Mo (calc)

    COMMERCIAL - Sherman, TX

    Type:Retail
    Property size:
    18,885 SF
    Lot size:
    3.56 Acres
    Added:
    Apr 24, 2026
    Days on Market:
    41
    Last Refresh:
    Jun 3 at 6:06 am

    Property Features for 2121 N Fm 1417

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    155709
    Size
    18,885 SF
    Lot size
    3.56 Acres

    Taxes and HOA fees

    Tax Description
    WESTERN HILLS ADDN SEC 5, BLOCK PT 4, ADDL VA

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1983
    Floors in Building
    1
    Number of units
    9
    Flooring type
    Carpet, Vinyl, Tile, Concrete, Laminate
    Building materials
    Frame, Concrete, Stucco
    Roof type
    Flat, Tile

    We can help!

    Listing Contact
    Anoo Sathappun

    Listing agent Anoo Sathappun License #0635204

    Listing office Redbud Offices LLC Garland, TX

    Listing date Apr 24, 2026

    MLS# 20604293

    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.

    HighLights

    • Fully finished medical office suite facing W Lamberth Rd, in the building’s northeast side
    • Intersection location at FM 1417 & W Lamberth Road with available signage
    • Divisible up to $4,468 SQFT; lease list price excludes NNN
    • NNN is approximately $9/SF plus electric
    • Year built 1983 with central electric HVAC, flat and tile roofing
    • Public utilities: public water and public sewer; parking lot on site

    Overview

    This fully finished medical office suite is set on the northeast side of the building, facing W Lamberth Road. The suite is designed for medical office use, with available signage. Vape shop use is not allowed by the city. Space is divisible up to 4,468 square feet, allowing flexibility for a range of medical and office requirements.

    The property is located at the intersection of FM 1417 and W Lamberth Road in Sherman, Texas. The suite is diagonally from Walmart, and the surrounding tenant mix includes Pizza Inn, Momo Donuts, Acme Cleaners, Casey’s, LeBlanc Book Keeping, and a wellness massage. Nearby businesses include an internal medicine practice, a spa center, fitness centers, a family vet clinic, vision and dental services, and computer services, with other everyday retail options in the area.

    With its finished medical-ready configuration and prominent Lamberth Road exposure, the space is well suited for medical and wellness operators seeking an established, business-dense environment. Neighboring healthcare and service users support a complementary tenant mix, and the ability to divide up to the stated maximum can help accommodate both established practices and growing groups. Lease terms exclude NNN; NNN is approximately $9 per square foot plus electric.
    Property Profile Location Intelligence

    Current Use by Public Records

    Total Health Chiropractic ... Alternative Medicine Practice Casey's Take-out & Catering Acme Cleaners (Bike/Boat/Book/etc) Store Momo's Donuts Bakery MAXIM Salon and Spa Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Mc Conkey Doug DVM — 2013 fm1417, sherman, tx 75092
    • Canyon Creek Family Vet — 2013 FM1417, Sherman, TX 75092

    Location Insight

    • Map
    • Local Demand
    City
    Sherman
    County
    Grayson
    State
    Texas
    Longitude
    -96.64154
    Latitude
    33.654544

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    FAQs

    What type of property is this?
    Medical Office Space - Turnkey medical office suite on the building’s northeast side with signage available and nearby retail and medical uses.
    Where is this medical office space located?
    The property is located at 2121 N Fm 1417 Sherman, TX.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Fully finished medical office suite facing W Lamberth Rd, in the building’s northeast side; Intersection location at FM 1417 & W Lamberth Road with available signage; Divisible up to $4,468 SQFT; lease list price excludes NNN
    (214) 763-0411
    We can help!
    Listing Contact
    Anoo Sathappun
    Real Estate License ID: 0635204
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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