Mixed-Use Building with Loft
New
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 Market6
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
(888) 455-6040
Source:
Crexi
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 13 at 8:05AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,388
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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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
Explore this area
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
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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
