Mixed-Use Building with Loft
213 N Travis Street, Sherman, TX 75090
For Sale
$1,100,000
CommercialSale, Sherman, TX
Property Size8,625 SF
Lot Size0.08 Acres
Price / SF$127.54
Days on Market54
Property Features for 213 N Travis Street
General Information
Property type
Property subtype
Zoning description
Parking features
Subdivision
Lot features
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
CAPROCK Real Estate Advisors LLC
Listed By:
Josh Long · License TX #0694673
(469) 834-8063
Added: Sep 20
Changed: Oct 1
Last Checked: Nov 12 at 9:06AM
MLS# 21391573
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.
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Investment Insights
Based on property information with market context.
Built in 1953, this mixed-use property at 213 N Travis Street in Sherman includes approximately 8,625 square feet on 0.078 acres. The building is configured as five separately leasable units: one street-front commercial space and four residential lofts that are currently under construction. The commercial unit is leased to a barber school, while the loft residences are designed with private exterior balconies and access from the rear parking area or street-level elevator.
The property is located within the Sherman Opportunity Zone and includes a parking lot, public water, and public sewer. Construction features include block and concrete, with laminate flooring, central heating, central air, and a shingle roof. Its address places the building along North Travis Street near Downtown Sherman, supporting a mixed-use format with both commercial and residential components.
The property is located within the Sherman Opportunity Zone and includes a parking lot, public water, and public sewer. Construction features include block and concrete, with laminate flooring, central heating, central air, and a shingle roof. Its address places the building along North Travis Street near Downtown Sherman, supporting a mixed-use format with both commercial and residential components.
Key Highlights
- Approximately 8,625 square feet on 0.078 acres
- Five separately leasable units, including one commercial space and four residential lofts
- Four residential lofts currently 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
Office A
$3.03M
$2.65M – $3.54M
NOI $212,382 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
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 Retail in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five separately leasable units include street-level commercial space and four residential lofts under construction.
Where is this mixed-use property located?
The property is located at 213 N Travis Street 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 on 0.078 acres; Five separately leasable units, including one commercial space and four residential lofts; Four residential lofts currently under construction
