Mixed-Use Building with Loft
For Sale
$1,100,000
213 N Travis Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size8,625 SF
Lot Size0.08 Acres
Price / SF$127.54
Days on Market8
Property Features for 213 N Travis Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Shannon T J Suppl
Lot features
Interior Lot
Directions
See GPS
Standard status
Active
APN
161965
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SHANNON T J SUPPLEMENT, BLOCK D, LOT N/2 4, A
Tax Annual Amount
18701
Legal Description
SHANNON T J SUPPLEMENT, BLOCK D, LOT N/2 4, A
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1953
Floors in Building
3
Number of units
5
Flooring type
Laminate
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 27 at 1:06PM
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.
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 = 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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Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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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
