Mixed-Use Building with Loft
For Sale
$1,750,000
330 W Lamar Street, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size8,472 SF
Lot Size0.23 Acres
Price / SF$206.56
Days on Market8
Property Features for 330 W Lamar Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial / Residential Loft
Parking features
Parking Lot
Subdivision
Loving A R Add
Directions
See GPS
Standard status
Active
APN
163590
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
LOVING A R ADDN, BLOCK 1, LOT 15, ACRES .2281
Tax Annual Amount
17345
Legal Description
LOVING A R ADDN, BLOCK 1, LOT 15, ACRES .2281
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
2
Number of units
5
Flooring type
Wood, Carpet, Concrete
Building materials
Brick, Block
Roof type
Shingle
Listing Agency:
CAPROCK Real Estate Advisors LLC
(469) 834-8063
Listed By:
Josh Long · License #TX0694673
(888) 455-6040
Added: Sep 20
Changed: Sep 25
Last Checked: Sep 27 at 1:06PM
MLS# 21391599
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.
Constructed in 1956, this brick-and-block mixed-use property contains approximately 8,472 square feet on a 0.228-acre lot. The building is arranged as five separately leasable units: three commercial spaces and two residential lofts renovated in 2022. Central heating and cooling, concrete, carpet, and wood flooring, a shingle roof, and a parking lot are among the existing improvements.
Located at 330 W Lamar Street in Sherman, the property sits along a route into Downtown Sherman. One commercial unit is occupied by a bail bond company, and one residential loft is occupied, creating existing rental income. The remaining commercial areas can accommodate a range of concepts, while a street-level entrance connects to a second-story commercial loft. The property is within the Sherman Opportunity Zone and has access to public water and public sewer.
Located at 330 W Lamar Street in Sherman, the property sits along a route into Downtown Sherman. One commercial unit is occupied by a bail bond company, and one residential loft is occupied, creating existing rental income. The remaining commercial areas can accommodate a range of concepts, while a street-level entrance connects to a second-story commercial loft. The property is within the Sherman Opportunity Zone and has access to public water and public sewer.
Key Highlights
- Approximately 8,472 square feet arranged as five separately leasable units
- Three commercial spaces and two residential lofts renovated in 2022
- One commercial unit and one residential loft are currently occupied
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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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple leasable spaces combine commercial suites with renovated residential lofts in a flexible mixed-use configuration.
Where is this mixed-use property located?
The property is located at 330 W Lamar Street 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 arranged as five separately leasable units; Three commercial spaces and two residential lofts renovated in 2022; One commercial unit and one residential loft are currently occupied
