Medical Office Building with Exam
For Sale
$995,000
3405 N Loy Lake Road, Sherman, TX 75090
Flexible office layout with reception, private rooms, four bathrooms, and established commercial improvements.
Property Size4,434 SF
Lot Size0.70 Acres
Price / SF$224.40
Days on Market50
Property Features for 3405 N Loy Lake Road
General Information
Standard status
Active
Size
4,434 SF
Lot size
0.70 Acres
Property subtype
Office
Additional Details
Road Access
Yes
Sprinkler System
Yes
Amenities
reception area
waiting room
private offices
exam rooms
bathrooms
X-ray room
kitchen areas
asphalt drive
carport
Building Details
Building Size
4,434 SF
Year Built
1980
Buildings
1
Listing Agency:
PD Land Co, LLC
Listed By:
Melissa Dingle-Tillman · License #0817003
(580) 889-7977
Source:
Texasliferealestate
Added: Sep 1
Changed: Oct 14
Last Checked: Oct 19 at 3:47PM
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 PD Land Co, LLC
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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 includes a reception area, waiting room, multiple private offices, exam rooms, four bathrooms, an X-ray room, and 1½ kitchen areas. The existing configuration supports medical, professional, or general office use. Carpet and tile flooring, a sprinkler system, asphalt drive, carport, and three HVAC units are included. Ground rods and surge protection are installed at the breaker panels, and the roof was replaced with a new DuraLast system in 2025.
The property is located at 3405 N Loy Lake Road in Sherman, directly across from Sam’s Club and Cracker Barrel. Its established commercial setting and sizable site provide a practical base for an owner-user or investor evaluating office space with existing infrastructure.
The property is located at 3405 N Loy Lake Road in Sherman, directly across from Sam’s Club and Cracker Barrel. Its established commercial setting and sizable site provide a practical base for an owner-user or investor evaluating office space with existing infrastructure.
Key Highlights
- 4,434‑square‑foot office building on approximately 0.70 acres
- Medical‑oriented layout with exam rooms, X‑ray room, reception, waiting area, and private offices
- Four bathrooms and 1½ kitchen areas
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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Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Paved road access
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 - Flexible office layout with reception, private rooms, four bathrooms, and established commercial improvements.
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; Medical‑oriented layout with exam rooms, X‑ray room, reception, waiting area, and private offices; Four bathrooms and 1½ kitchen areas
