NNN Restaurant Investment
2124 Texoma Pkwy, Sherman, TX 75090
Single-tenant NNN restaurant property with long-term tenant.
Type:Retail
Property size:
5,118 SFLot size:
0.74 AcresPrice / SF:
$219/SF- Added:
- Mar 2, 2026
- Days on Market:
- 75
- Last Refresh:
- Mar 16 at 1:41 pm
Property Features for 2124 Texoma Pkwy
General Information
- Standard status
- Active
- Size
- 5,118 SF
- Lot size
- 0.74 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1973
Listing agent Tony Fortner License #TX 0395080
Listing office The Michael Group - Dallas
Listing date Mar 2, 2026
Source Crexi
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 The Michael Group - Dallas
HighLights
- NNN lease structure provides passive income with limited landlord responsibilities.
- Long‑term tenant operating successfully since 1998 with a strong customer base.
- Current lease runs through June 30, 2028, generating $71,256 annually.
- Significant recent capital improvements minimize deferred maintenance risk.
- Tenant has expressed a desire to remain, offering continued operational stability.
- Proven operator consistently voted Best Mexican Food in Sherman.
Overview
This offering presents an opportunity to acquire a stabilized, single-tenant NNN restaurant property. The property is occupied by a long-standing, locally dominant Tex-Mex concept that has been operating at this location since 1998. The restaurant has consistently been voted Best Mexican Food in Sherman and maintains a strong, loyal customer base. The property consists of the building and approximately 0.74 acres and is leased on a NNN basis, providing passive income with limited landlord responsibilities limited to the roof and parking lot. The current lease rate is $5,938 per month, which is $71,256 annually, and runs through June 30, 2028. The long-term tenant has expressed a desire to remain, offering continued operational stability. Significant capital improvements have recently been completed, minimizing deferred maintenance risk. The roof was replaced in 2023. A new 10-ton rooftop HVAC unit and two 5-ton HVAC units were installed in 2023. Cast iron drain lines were replaced with PVC in 2025. The parking lot was resurfaced, sealed, and striped as needed. The property has been well maintained since the current owner acquired it in 2004. With strong in-place cash flow, a proven operator, and a NNN lease structure, this asset is well suited for passive investors or 1031 exchange buyers seeking stable cash flow and minimal management responsibilities. The property size is 5,118 square feet.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.01M
NOI $91,019 @ 9.00% cap · cautious / downside scenario
Moderate
$1.30M
NOI $91,019 @ 7.00% cap · market / base-case scenario
Aggressive
$1.82M
NOI $91,019 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.7k | $24.96 |
| − Vacancy | −$6.4k | −$1.25 |
| EGI | $121.4k | $23.71 |
| − OpEx | −$30.3k | −$5.93 |
| NOI | $91.0k | $17.78 |
5,118 SF · lease $24.96/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.30M
$1.14M – $1.52M
NOI $91,019 @ 7.0% cap · market cap 8.09%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.63M
$2.30M – $3.06M
NOI $183,787 @ 7.0% cap · market cap 16.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
La Mesa Mexican ...
Restaurant
Location Insight
- Map
- Local Demand
- City
- Sherman
- County
- Grayson
- State
- Texas
- Longitude
- -96.5996308
- Latitude
- 33.6615772
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Single-tenant NNN restaurant property with long-term tenant.
Where is this conventional restaurant located?
The property is located at 2124 Texoma Pkwy Sherman, TX.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: NNN lease structure provides passive income with limited landlord responsibilities.; Long‑term tenant operating successfully since 1998 with a strong customer base.; Current lease runs through June 30, 2028, generating $71,256 annually.
