Industrial Building with Office
304 Progress Drive Sherman, TX 75092
New
For Sale
$1,985,000
Clear-span industrial building with 3,000 SF office and a dock-high loading door in Sherman, TX.
Property Size13,000 SF
Price / SF$152.69
Days on Market5
Property Features for 304 Progress Drive
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Commercial
Building Details
Year Built
1996
Listing Agency:
Bluestone Partners, LLC
(903) 821-0321
Listed By:
Barry Boothe · License #0604645
(903) 821-0321
Source:
Fullhouserealtytx
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 28 at 5:15PM
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 Bluestone Partners, LLC
Investment Insights
Based on property information with market context.
This 13,000 SF industrial building at 304 Progress Drive offers 3,000 SF of office space alongside clear-span warehouse/manufacturing space. Improvements include a dock-high loading door, generous ceiling heights, and ample power distribution, supporting manufacturing, storage, or logistics-oriented uses for an owner-occupant or investor.
The property is located in Sherman, TX along US Highway 75, with proximity to major employers including Texas Instruments, GlobiTech, and Coherent, as well as supporting high-tech manufacturing industry in the region.
The property is located in Sherman, TX along US Highway 75, with proximity to major employers including Texas Instruments, GlobiTech, and Coherent, as well as supporting high-tech manufacturing industry in the region.
Key Highlights
- 13,000 SF industrial building in Sherman, TX, with 3,000 SF of office space
- Clear‑span construction with generous ceiling heights for manufacturing, storage, or logistics uses
- Dock‑high loading door for loading and distribution operations
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
Location Intelligence
Current Use
Similar Off Market Nearby
- Feast On This! Catering — 1403 W Houston St, Sherman, TX 75092
Frequently Asked Questions
What type of property is this?
Flex space - Clear-span industrial building with 3,000 SF office and a dock-high loading door in Sherman, TX.
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 industrial building in Sherman, TX, with 3,000 SF of office space; Clear‑span construction with generous ceiling heights for manufacturing, storage, or logistics uses; Dock‑high loading door for loading and distribution operations
