Multi-Tenant Retail Center with
2121 N Fm 1417 Sherman Sherman, TX 75092
New
2121 N Fm 1417 Sherman, Sherman, TX, 75092
$2,695,000
For Sale
$2,695,000
Multi-tenant retail center anchored by Casey's, with additional buildable land behind the existing building.
Property Size18,885 SF
Lot Size3.56 Acres
Price / SF$142.71
Days on Market4
Property Features for 2121 N Fm 1417 Sherman
General Information
- Standard status
- Active
- Size
- 18,885 SF
- Lot size
- 3.56 Acres
Building Details
- Year Built
- 1983
Listing Agency
(800) 683-5651
Listed by
Travion Brown
(800) 683-5651
Source
Jparhouston
Added: Jul 15 Checked: Jul 17 at 2:34 am
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 Travion Brown
Investment Insights
Based on property information with market context.
This multi-tenant retail property in Sherman, Texas includes building space plus additional buildable land behind the existing building. It is currently occupied by a mix of local and service-oriented tenants, including a gas station, massage, bookkeeping, a gold and silver shop, and several food concepts.
The property is commercially zoned and the remarks indicate it allows a range of uses, including professional offices, salon suites, recreational facilities, gyms, retail shops (excluding smoking or vape shops), shopping, cafes, restaurants, and other businesses. The center is anchored by Casey's General Stores convenience store and gas station. The property is described as diagonally located near Walmart Neighborhood Market, supporting co-tenancy and customer draw.
As presented, the pro-forma NOI potential is $265,226, with value-add opportunity tied to leasing vacant spaces.
The property is commercially zoned and the remarks indicate it allows a range of uses, including professional offices, salon suites, recreational facilities, gyms, retail shops (excluding smoking or vape shops), shopping, cafes, restaurants, and other businesses. The center is anchored by Casey's General Stores convenience store and gas station. The property is described as diagonally located near Walmart Neighborhood Market, supporting co-tenancy and customer draw.
As presented, the pro-forma NOI potential is $265,226, with value-add opportunity tied to leasing vacant spaces.
Key Highlights
- 18,885 SF multi‑tenant retail building on 3.559 acres in Sherman, TX (built 1983).
- Anchored by Casey’s General Stores convenience store and gas station.
- Currently occupied by multiple tenants including massage, bookkeeping, gas station, gold and silver shop, donut shop, pizza shops, and ice cream shop.
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- Canyon Creek Shopping Center — 155709, Sherman, TX 75092
FAQs
What type of property is this?
Shopping center - Multi-tenant retail center anchored by Casey's, with additional buildable land behind the existing building.
Where is this shopping center located?
The property is located at 2121 N Fm 1417 Sherman 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 SF multi‑tenant retail building on 3.559 acres in Sherman, TX (built 1983).; Anchored by Casey’s General Stores convenience store and gas station.; Currently occupied by multiple tenants including massage, bookkeeping, gas station, gold and silver shop, donut shop, pizza shops, and ice cream shop.
