Skating Rink Redevelopment
For Sale
$1,100,000
3100 Versaille Drive, Sherman, TX 75090
COMMERCIAL - Sherman, TX
Property Size18,000 SF
Lot Size1.10 Acres
Price / SF$61.11
Days on Market45
Property Features for 3100 Versaille Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Subdivision
Town North Add Rep
Directions
75 north, take texoma parkway east, left on Gallagher, left on Versaille, complex on left handside.
Standard status
Active
APN
154933
Size
18,000 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Description
TOWN NORTH ADDN (REPLAT), BLOCK PT 17, ACRES
Tax Annual Amount
13567
Legal Description
TOWN NORTH ADDN (REPLAT), BLOCK PT 17, ACRES
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1975
Floors in Building
1
Number of units
1
Flooring type
Wood, Hardwood, Carpet, Linoleum
Building materials
Block, Concrete
Roof type
Metal
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(469) 834-8063
Added: Jul 2
Changed: Aug 5
Last Checked: Aug 15 at 3:06AM
MLS# 21308702
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.
This skating rink property includes existing indoor improvements that can support continued entertainment and recreation use, or be adapted for other indoor sports and training concepts. The current setup includes select baseball and softball batting cages, indoor soccer, club volleyball, pickleball, gymnastics, cheer training, and fitness, offering an environment that can also function as a multi-sport training center.
The property sits on a 1.1-acre site in Sherman, Texas, about 3/4 mile from Texoma Parkway. Construction materials include block and concrete, with a metal roof. Interior surfaces include linoleum, carpet, wood, and hardwood flooring. Heating is electric, and cooling is provided via central air plus wall unit(s).
Utilities include public water and public sewer. Built in 1975, the improvements provide a base for buyers evaluating either an entertainment venue conversion or redevelopment into an office warehouse, industrial flex complex, contractor park, showroom with warehouse, distribution facility, or service-oriented commercial center.
The property sits on a 1.1-acre site in Sherman, Texas, about 3/4 mile from Texoma Parkway. Construction materials include block and concrete, with a metal roof. Interior surfaces include linoleum, carpet, wood, and hardwood flooring. Heating is electric, and cooling is provided via central air plus wall unit(s).
Utilities include public water and public sewer. Built in 1975, the improvements provide a base for buyers evaluating either an entertainment venue conversion or redevelopment into an office warehouse, industrial flex complex, contractor park, showroom with warehouse, distribution facility, or service-oriented commercial center.
Key Highlights
- 1.1‑acre site with 18,000 SF building
- Existing improvements include batting cages and indoor sports/recreation space
- About 3/4 mile from Texoma Parkway
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
$93,768
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
8.52%
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%
$1,875,360
$1.9M
Cap Rate 7%
$1,339,543
$1.3M
Cap Rate 9%
$1,041,867
$1.0M
Market Conditions
NOI Build-Up for 18,000 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
$146.9K $8.16/SF
− Vacancy
−$12.9K −$0.72/SF
EGI
$134.0K $7.44/SF
− OpEx
−$40.2K −$2.23/SF
NOI
$93.8K $5.21/SF
Area
Grayson County, TX
Vacancy
8.80%
Lease Rate
$8.16 /SF/Yr
Expense Ratio
30.00%
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%
$1,875,360
Cap Rate 7%
$1,339,543
Cap Rate 9%
$1,041,867
Alternative Uses
Best Use
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,768 @ 7.0% cap · market cap 8.52%
Second Best
Flex RnD
$1.23M
$1.08M – $1.43M
NOI $86,072 @ 7.0% cap · market cap 7.82%
Theoretical Best
Hotel Hospitality
$9.23M
$8.08M – $10.77M
NOI $646,380 @ 7.0% cap · market cap 58.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Skating rink - Purpose-built skating rink with indoor sports and recreation improvements and public utilities connection.
Where is this skating rink located?
The property is located at 3100 Versaille Drive 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: 1.1‑acre site with 18,000 SF building; Existing improvements include batting cages and indoor sports/recreation space; About 3/4 mile from Texoma Parkway
