Medical Office
For Sale
$995,000
3405 N Loy Lake Road, Sherman, TX 75090
CommercialSale, Sherman, TX
Property Size4,434 SF
Lot Size0.70 Acres
Price / SF$224.40
Days on Market51
Property Features for 3405 N Loy Lake Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
Commercial
Parking features
Carport
Subdivision
G 0763 Mcanair J B
Directions
Across Loy Lake Rd. from Sam's.
Standard status
Active
APN
154694
Lot size
0.70 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
1
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Shake, Synthetic, Flat
Listing Agency:
PD Land Co, LLC
Listed By:
Melissa Dingle-Tillman
(580) 889-7977
Added: Aug 31
Changed: Sep 17
Last Checked: Oct 20 at 11:06AM
MLS# 21370419
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.
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Investment Insights
Based on property information with market context.
This 4,434-square-foot office building occupies approximately 0.70 acres and has a layout that includes reception and waiting areas, private offices, exam rooms, four bathrooms, an X-ray room, and 1 1/2 kitchen areas. Carpet and tile flooring, central heating and central air, a sprinkler system, asphalt drive, and carport support the existing commercial improvements. Three HVAC units serve the building, while ground rods and surge protection are installed at the breaker panels. A new DuraLast roof was installed in 2025, with a metal-shake mansard surrounding the roofline.
The property is located at 3405 N Loy Lake Road in Sherman, Texas, directly across Loy Lake Road from Sam's Club and Cracker Barrel. Public water and public sewer serve the site. The established floor plan and existing office infrastructure support medical, professional, and other office uses, subject to applicable requirements.
The property is located at 3405 N Loy Lake Road in Sherman, Texas, directly across Loy Lake Road from Sam's Club and Cracker Barrel. Public water and public sewer serve the site. The established floor plan and existing office infrastructure support medical, professional, and other office uses, subject to applicable requirements.
Key Highlights
- 4,434‑square‑foot office building on approximately 0.70 acres
- Reception, waiting area, private offices, exam rooms, X‑ray room, four bathrooms, and 1 1/2 kitchen areas
- New DuraLast roof installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,168
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,483,360
$1.5M
Cap Rate 7%
$1,059,543
$1.1M
Cap Rate 9%
$824,089
$824.1K
Market Conditions
NOI Build-Up for 4,434 SF
Gross rent
$136.2K $30.72/SF
− Vacancy
−$37.3K −$8.42/SF
EGI
$98.9K $22.30/SF
− OpEx
−$24.7K −$5.58/SF
NOI
$74.2K $16.73/SF
Area
Grayson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,483,360
Cap Rate 7%
$1,059,543
Cap Rate 9%
$824,089
Alternative Uses
Best Use
Office B
$1.06M
$927.1K – $1.24M
NOI $74,168 @ 7.0% cap · market cap 7.45%
Second Best
Healthcare Medical
$963.2K
$842.8K – $1.12M
NOI $67,425 @ 7.0% cap · market cap 6.78%
Theoretical Best
Hotel Hospitality
$2.27M
$1.99M – $2.65M
NOI $159,225 @ 7.0% cap · market cap 16.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
634
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 Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Configured with reception, waiting, private offices, exam rooms, and multiple bathrooms.
Where is this office building located?
The property is located at 3405 N Loy Lake Road Sherman, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,434‑square‑foot office building on approximately 0.70 acres; Reception, waiting area, private offices, exam rooms, X‑ray room, four bathrooms, and 1 1/2 kitchen areas; New DuraLast roof installed in 2025
