Mixed-Use Building with Loft
New
For Sale
Contact for pricing
330 W LAMAR ST, Sherman, TX 75090
Five separately leasable units combine commercial suites with residential lofts renovated in 2022.
Property Size8,472 SF
Price / SF$206.56
Days on Market6
Property Features for 330 W LAMAR ST
General Information
Standard status
Active
Size
8,472 SF
Property subtype
Retail, Multifamily, Office
Units
Unit Mix
2 x luxury residential lofts
Multifamily Units
2
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Building Details
Year Built
1956
Year Renovated
2022
Buildings
1
Tenancy
Multi
Listing Agency:
CAPROCK REAL ESTATE ADVISORS
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Source:
Crexi
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 13 at 7:20AM
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 CAPROCK REAL ESTATE ADVISORS
Investment Insights
Based on property information with market context.
The Porterfield Building is an approximately 8,472-square-foot mixed-use property constructed in 1956. Its five separately leasable units include three commercial spaces and two residential lofts, with the loft residences renovated in 2022. One commercial unit is occupied by a bail bond company, and one residential loft is also leased, providing in-place rental income.
A street-level entry connects directly to a distinctive second-story commercial loft that can accommodate salon, gallery, studio, or professional uses. The remaining commercial areas offer adaptable space for retail, restaurant, salon, gallery, showroom, or other mixed-use concepts. Positioned along Lamar Street at a gateway to Downtown Sherman, the property is within the Sherman Opportunity Zone and includes both commercial and residential components.
A street-level entry connects directly to a distinctive second-story commercial loft that can accommodate salon, gallery, studio, or professional uses. The remaining commercial areas offer adaptable space for retail, restaurant, salon, gallery, showroom, or other mixed-use concepts. Positioned along Lamar Street at a gateway to Downtown Sherman, the property is within the Sherman Opportunity Zone and includes both commercial and residential components.
Key Highlights
- Approximately 8,472 square feet on Lamar Street at a gateway to Downtown Sherman
- Five separately leasable units: three commercial spaces and two residential lofts
- Residential lofts renovated in 2022
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
$140,622
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
8.04%
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%
$2,812,440
$2.8M
Cap Rate 7%
$2,008,886
$2.0M
Cap Rate 9%
$1,562,467
$1.6M
Market Conditions
NOI Build-Up for 8,472 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
$211.5K $24.96/SF
− Vacancy
−$10.6K −$1.25/SF
EGI
$200.9K $23.71/SF
− OpEx
−$60.3K −$7.11/SF
NOI
$140.6K $16.60/SF
Area
Grayson County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$2,812,440
Cap Rate 7%
$2,008,886
Cap Rate 9%
$1,562,467
Alternative Uses
Best Use
Retail
$2.01M
$1.76M – $2.34M
NOI $140,622 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $83,873 @ 7.0% cap · market cap 4.79%
Theoretical Best
Hotel Hospitality
$4.35M
$3.80M – $5.07M
NOI $304,230 @ 7.0% cap · market cap 17.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,336
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five separately leasable units combine commercial suites with residential lofts renovated in 2022.
Where is this mixed-use property located?
The property is located at 330 W LAMAR ST Sherman, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 8,472 square feet on Lamar Street at a gateway to Downtown Sherman; Five separately leasable units: three commercial spaces and two residential lofts; Residential lofts renovated in 2022
