Renovated Medical Office
For Sale
$675,000
300 N Bryant Ave, Sherman, TX 75090
Configured with exam rooms, multiple bathrooms, reception, and an upstairs open area.
Property Size3,600 SF
Price / SF$187.50
Days on Market23
Property Features for 300 N Bryant Ave
General Information
Standard status
Active
Size
3,600 SF
Amenities
hardwood floors
Building Details
Year Built
1985
Buildings
1
Listing Agency:
Benton-Luttrell Real Estate Co
(903) 482-8400
Listed By:
Drue Bynum · License #0683673
Source:
Minteerteam
Added: Aug 7
Changed: Aug 28
Last Checked: Aug 28 at 9:07PM
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.
This 3,600-square-foot medical office building, originally constructed in 1985, has undergone renovation and features hardwood flooring throughout. The layout includes 9 exam rooms, 5 bathrooms, a reception area, check-in space, kitchen, and an 800-square-foot open area on the upper level. One bathroom includes a shower.
The property is located at 300 N Bryant Ave in Sherman, Texas, directly across from Wilson N. Jones Hospital. Its existing clinical layout and range of support areas provide a defined medical-office configuration.
The property is located at 300 N Bryant Ave in Sherman, Texas, directly across from Wilson N. Jones Hospital. Its existing clinical layout and range of support areas provide a defined medical-office configuration.
Key Highlights
- 3,600‑square‑foot medical office building at 300 N Bryant Ave
- 9 exam rooms and 5 bathrooms, including one with a shower
- 800‑square‑foot open area upstairs
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 - Configured with exam rooms, multiple bathrooms, reception, and an upstairs open area.
Where is this medical office space located?
The property is located at 300 N Bryant Ave 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: 3,600‑square‑foot medical office building at 300 N Bryant Ave; 9 exam rooms and 5 bathrooms, including one with a shower; 800‑square‑foot open area upstairs
