Flex Space with Dock-High Loading
For Sale
$1,985,000
304 Progress Drive, Sherman, TX 75092
COMMERCIAL - Sherman, TX
Property Size13,000 SF
Lot Size2.50 Acres
Price / SF$152.69
Days on Market46
Property Features for 304 Progress Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
PD - Industrial
Parking features
Parking Lot
Subdivision
Progress Industrial
Directions
304 Progress Dr.
Standard status
Active
APN
125314
Lot size
2.50 Acres
Taxes and HOA fees
Tax Description
G-0765 MARTIN WILLIAM A-G0765, ACRES 1.0
Legal Description
G-0765 MARTIN WILLIAM A-G0765, ACRES 1.0
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Number of units
1
Flooring type
Laminate, Tile, Hardwood, Concrete
Building materials
Stucco
Roof type
Metal
Listing Agency:
Bluestone Partners, LLC
(903) 813-1415
Listed By:
Barry Boothe · License #0604645
(903) 813-1415
Added: Jun 18
Changed: Aug 1
Last Checked: Aug 2 at 1:06AM
MLS# 21303976
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.
Flex space at 304 Progress Drive in Sherman, Texas, offering a 13,000 SF industrial building with 3,000 SF of office space. The layout features clear span construction and is supported by a dock high loading door, ample power distribution, and generous ceiling heights designed to accommodate manufacturing, storage, or logistics use. The building is complemented by central heating and central air conditioning, and a metal roof. Interior finishes include laminate, tile, hardwood, and concrete flooring, with stucco exterior construction.
The property sits on a 2.5-acre lot and includes parking in a parking lot setting. Utilities are provided via public water and public sewer. The location is along US Highway 75, with proximity to major employers including Texas Instruments, GlobiTech, and Coherent.
Built in 1996, this facility is positioned to support owner-occupant or tenant-based operations that benefit from flexible space and straightforward industrial access.
The property sits on a 2.5-acre lot and includes parking in a parking lot setting. Utilities are provided via public water and public sewer. The location is along US Highway 75, with proximity to major employers including Texas Instruments, GlobiTech, and Coherent.
Built in 1996, this facility is positioned to support owner-occupant or tenant-based operations that benefit from flexible space and straightforward industrial access.
Key Highlights
- 13,000 SF flex/industrial building with 3,000 SF office space
- 2.5‑acre lot with parking lot parking
- Clear span construction with dock high loading door
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.1k | $8.16 |
| − Vacancy | −$9.3k | −$0.72 |
| EGI | $96.7k | $7.44 |
| − OpEx | −$14.5k | −$1.12 |
| NOI | $82.2k | $6.33 |
13,000 SF · lease $8.16/SF/yr · vacancy 8.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.17M
$1.03M – $1.37M
NOI $82,233 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$967.4K
$846.5K – $1.13M
NOI $67,721 @ 7.0% cap · market cap 3.41%
Theoretical Best
Hotel Hospitality
$6.67M
$5.84M – $7.78M
NOI $466,830 @ 7.0% cap · market cap 23.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 75092, TX
27,186
Population
13,117
Households
2.1
Avg Household Size
39
Median Age
30%
College-Educated
94%
High-School Grad
113.9 sq mi
ZIP Area
239
Density / Sq Mi
$67,160
Median Household Income
$41,683
Median Earnings
$1,205
Median Rent
$260,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space on a 2.5-acre site with office space, clear span construction, and a dock-high loading door.
Where is this flex space located?
The property is located at 304 Progress Drive Sherman, TX.
What is the asking price?
The asking price for this property is $1,985,000.
What are key features of this property?
This property features: 13,000 SF flex/industrial building with 3,000 SF office space; 2.5‑acre lot with parking lot parking; Clear span construction with dock high loading door
