Mixed-Use Building with Loft
For Sale
Contact for pricing
213 N TRAVIS ST, Sherman, TX 75090
Mixed-use property combines a leased street-level commercial space with four residential lofts under construction.
Property Size8,625 SF
Price / SF$127.54
Days on Market52
Property Features for 213 N TRAVIS ST
General Information
Standard status
Active
Size
8,625 SF
Elevators
Yes
Property subtype
Retail, Multifamily
Units
Unit Mix
4 x loft
Multifamily Units
4
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Amenities
private exterior balcony
Building Details
Year Built
1953
Buildings
1
Tenancy
Single
Listing Agency:
CAPROCK REAL ESTATE ADVISORS
Listed By:
Josh Long · License #TX0694673
(903) 200-5550
Source:
Crexi
Added: Sep 8
Changed: Oct 25
Last Checked: Oct 28 at 8:51AM
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 CAPROCK REAL ESTATE ADVISORS
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Investment Insights
Based on property information with market context.
Built in 1953, this approximately 8,625-square-foot mixed-use building contains five separately leasable units. The property includes a street-facing commercial space currently leased to a barber school, along with four residential lofts under construction. Residential access is available from the rear parking area or through an elevator from the street level, and each loft is planned with a private exterior balcony.
The building is located at 213 N Travis St in Downtown Sherman, at a gateway position along North Travis Street. Its commercial component offers a flexible format for uses such as a restaurant, boutique retailer, salon, day spa, or another creative mixed-use concept, subject to applicable requirements. The property is within the Sherman Opportunity Zone, and the source information notes that the City of Sherman may offer incentives for qualifying redevelopment projects.
The building is located at 213 N Travis St in Downtown Sherman, at a gateway position along North Travis Street. Its commercial component offers a flexible format for uses such as a restaurant, boutique retailer, salon, day spa, or another creative mixed-use concept, subject to applicable requirements. The property is within the Sherman Opportunity Zone, and the source information notes that the City of Sherman may offer incentives for qualifying redevelopment projects.
Key Highlights
- Approximately 8,625 square feet built in 1953
- Five separately leasable units
- Four residential lofts under construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,388
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,707,760
$1.7M
Cap Rate 7%
$1,219,829
$1.2M
Cap Rate 9%
$948,756
$948.8K
Market Conditions
NOI Build-Up for 8,625 SF
Gross rent
$155.3K $18.00/SF
− Vacancy
−$18.6K −$2.16/SF
EGI
$136.6K $15.84/SF
− OpEx
−$51.2K −$5.94/SF
NOI
$85.4K $9.90/SF
Area
Grayson County, TX
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,707,760
Cap Rate 7%
$1,219,829
Cap Rate 9%
$948,756
Alternative Uses
Best Use
Retail
$2.05M
$1.79M – $2.39M
NOI $143,161 @ 7.0% cap · market cap 13.01%
Second Best
Mixed Use
$1.22M
$1.07M – $1.42M
NOI $85,388 @ 7.0% cap · market cap 7.76%
Theoretical Best
Hotel Hospitality
$4.42M
$3.87M – $5.16M
NOI $309,724 @ 7.0% cap · market cap 28.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
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Business Placement
Demographics for 75090, TX
25,002
Population
9,602
Households
2.6
Avg Household Size
35
Median Age
15%
College-Educated
84%
High-School Grad
78.5 sq mi
ZIP Area
318
Density / Sq Mi
$58,586
Median Household Income
$36,230
Median Earnings
$1,111
Median Rent
$163,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property combines a leased street-level commercial space with four residential lofts under construction.
Where is this mixed-use property located?
The property is located at 213 N TRAVIS ST Sherman, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 8,625 square feet built in 1953; Five separately leasable units; Four residential lofts under construction
