Renovated Medical Office
For Sale
$675,000
300 N Bryant Avenue, Sherman, TX 75090
Includes nine exam rooms, five bathrooms, reception and check-in areas, plus an upstairs open area.
Property Size3,600 SF
Days on Market13
Property Features for 300 N Bryant Avenue
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Commercial
Zoning
Medical Office
Building Details
Building Size
3,600 SF
Year Built
1985
Buildings
1
Units
1
Listing Agency:
Benton-Luttrell Real Estate Co
(903) 227-4626
Listed By:
Drue Bynum · License #0683673
(903) 227-4626
Source:
Vickiesteam
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 23 at 12:26PM
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 Benton-Luttrell Real Estate Co
Investment Insights
Based on property information with market context.
Built in 1985, this medical office property has undergone renovation and is arranged for clinical operations. The building includes 9 exam rooms, 5 bathrooms, and a reception area with dedicated check-in space. One bathroom features a shower, while the finishes include hardwood floors and remodeled interiors. An 800-square-foot open area is located upstairs, along with a kitchen.
The property is at 300 N Bryant Avenue in Sherman, Texas, directly across from Wilson N. Jones hospital. Its existing medical-office configuration provides a defined layout with patient-facing, administrative, and support areas in place.
The property is at 300 N Bryant Avenue in Sherman, Texas, directly across from Wilson N. Jones hospital. Its existing medical-office configuration provides a defined layout with patient-facing, administrative, and support areas in place.
Key Highlights
- 9 exam rooms in a renovated medical office building
- 5 bathrooms, including one with a shower
- 800‑square‑foot upstairs open area
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
$60,217
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
8.92%
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%
$1,204,340
$1.2M
Cap Rate 7%
$860,243
$860.2K
Cap Rate 9%
$669,078
$669.1K
Market Conditions
NOI Build-Up for 3,600 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
$110.6K $30.72/SF
− Vacancy
−$30.3K −$8.42/SF
EGI
$80.3K $22.30/SF
− OpEx
−$20.1K −$5.58/SF
NOI
$60.2K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$1,204,340
Cap Rate 7%
$860,243
Cap Rate 9%
$669,078
Alternative Uses
Best Use
Office B
$860.2K
$752.7K – $1.00M
NOI $60,217 @ 7.0% cap · market cap 8.92%
Second Best
Healthcare Medical
$782.0K
$684.3K – $912.4K
NOI $54,743 @ 7.0% cap · market cap 8.11%
Theoretical Best
Hotel Hospitality
$1.85M
$1.62M – $2.15M
NOI $129,276 @ 7.0% cap · market cap 19.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Includes nine exam rooms, five bathrooms, reception and check-in areas, plus an upstairs open area.
Where is this medical office space located?
The property is located at 300 N Bryant Avenue Sherman, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 9 exam rooms in a renovated medical office building; 5 bathrooms, including one with a shower; 800‑square‑foot upstairs open area
